[ARC] Repay excess debt in CRV market for Aave V2 ETH

Governance
16

This seems like three separate proposals in one:

  1. use Gauntlet’s insolvency refund

  2. acquire 2,651,906 CRV at a market value of $1,877,777

  3. redeem the v2 Collector Contract for a total value of $434,299

Now that these are more explicit - I’d like to drill into #2:

We are supportive of using the insolvency refund and think that is a no-brainer. For the Curve acquisition, it seems a bit soon and aggressive to acquire more than needed.

To encourage full transparency, we believe this decision to acquire a surplus of CRV would be best lived in a separate discussion.

It feels like a better, more simple course of action would be the following:

  • redeem the insolvency refund (~$300,000)

  • redeem and use v2 collector contract (~$430,000)

  • acquire CRV to pay the difference of bad debt (~$1,477,000)

I am not convinced of the need to focus on future, undiscussed DAO partnerships while patching a hole.

It’s like building a new marble kitchen while your basement is flooding…