# \[ARFC\] Funding Update
**URL:** https://governance.aave.com/t/arfc-funding-update/16675
**Category:** Governance
**Created:** [February 19, 2024, 6:08pm UTC](https://governance.aave.com/t/arfc-funding-update/16675 "2024-02-19T18:08:24Z")
**Posts on this page:** 5
**Page:** 1
### Author:  [@karpatkey\_TokenLogic](https://governance.aave.com/u/karpatkey_TokenLogic)
#### Post date: [February 19, 2024, 6:08pm UTC](https://governance.aave.com/t/arfc-funding-update/16675/1 "2024-02-19T18:08:24Z")
* * *
title: [ARFC] Funding Update
author: @karpatkey_TokenLogic
created: 2024-02-19
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# Summary
This publication mainly proposes consolidating DAO assets in preparation of foreseeable DAO expenses. There are additional small treasury management actions included in this proposal for house-keeping.
# Motivation
In preparation for the upcoming launch of the Merit program and the expected renewal of DAO service providers, this proposal intends to:
- Consolidate the DAOs smaller holdings to GHO
- Swap larger stablecoins holdings for GHO
- Replenish the stablecoins Reserves in Aave v3
- Migrate funds from Aave v2 to v3
- Bridge funds from Polygon to Mainnet
To reduce governance burden, this proposal also includes withdrawing BAL and CRV from mainnet Aave v3 and v2, as well as withdrawing and bridging them from Polygon Aave v3 to Ethereum. All the BAL and CRV included in this proposal will then be transferred to the Aave Liquidity Committee (ALC) for its future allocation on behalf of the DAO.
In addition to the above, this proposal seeks to enable @karpatkey_TokenLogic to submit proposals via the Direct-to-AIP process which include actions similar to the above:
- Consolidate treasury holdings to GHO
- Migrate funds from v2 to v3 deployments
- Move funds from Polygon to Ethereum
# Specification
The table below summarises the tasks to be performed by this proposal:
### Part A
Part A, or the first AIP resulting from this proposal seeks alignment to perform the following actions:
| Withdraw & Swap to GHO | Migrate ETH v2 to v3 | Polygon to ETH |
| --- | --- | --- |
| aEthLUSD (All-1) | awBTC (All-1) | aPolwETH (All-1) |
| aEthUSDC (1.25M) | awETH (All-1) | aPolDAI (All-1) |
| aEthUSDT (1.5M) | aUSDC (300k) | aPolBAL (All-1) |
| LUSD (All) | | aPolCRV (All-1) |
| aLUSD (All-1) | | |
| aBUSD (50k) | | |
| aTUSD (All-1) | | |
| aFRAX (All-1) | | |
| aUSDT (200k) | | |
| aDAI (All-1) | | |
| aDPI (All-1) | | |
Withdraw aCRV, aEthCRV, aBAL and aEthBAL and transfer BAL and CRV to ALC SAFE.
Enable @karpatkey_Tokenlogic so submit funding proposals consisting of the following via the Direct-to-AIP process:
1. Consolidate the treasury to GHO
2. Migrate funds from v2 to v3 on respective networks
3. Move funds from Polygon to Ethereum
### Part B
As part of the second AIP resulting from this ARFC, the following actions are included:
| Transfer ALC | Deposit ETH v3 | Swap to GHO |
| --- | --- | --- |
| BAL | ETH (All-1) | aBUSD |
| CRV | DAI (All) | |
Withdraw and swap remaining BUSD from Aave v2 (assuming there is enough on-chain liquidity)
ALC SAFE:`0x205e795336610f5131Be52F09218AF19f0f3eC60`
# Disclosure
TokenLogic and karpatkey receive no payment for this proposal. TokenLogic and karpatkey are both delegates within the Aave community.
# Next Steps
1. Gather feedback from the community and risk service providers.
2. If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
3. If Snapshot outcome is YAE, escalate this proposal to AIP stage
# Copyright
Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
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### Author:  [@Aqua99](https://governance.aave.com/u/Aqua99)
#### Post date: [February 21, 2024, 9:45am UTC](https://governance.aave.com/t/arfc-funding-update/16675/2 "2024-02-21T09:45:21Z")
Thanks for the update @karpatkey_TokenLogic.
Can you elaborate on the strategy you’re going to use to swap existing assets to GHO?
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### Author:  [@karpatkey\_TokenLogic](https://governance.aave.com/u/karpatkey_TokenLogic)
#### Post date: [March 6, 2024, 1:06pm UTC](https://governance.aave.com/t/arfc-funding-update/16675/3 "2024-03-06T13:06:21Z")
Upon discussing with @bgdlabs this proposal, the following swaps have been omitted.
TUSD \>\> GHO
BUSD \>\> GHO
We expect to have the AIP up for voting later today.
---
### Author:  [@karpatkey\_TokenLogic](https://governance.aave.com/u/karpatkey_TokenLogic)
#### Post date: [March 21, 2024, 3:30pm UTC](https://governance.aave.com/t/arfc-funding-update/16675/4 "2024-03-21T15:30:45Z")
Following on from Part A, Part B of this proposal will perform the following:
- Transfer BAL and CRV to the ALC
- Deposit ETH (all -1) and DAI into Aave v3
- Swap 640k USDC from Aave v2 for GHO to provide funding for BGD
- Swap DPI for GHO from Part A
The previous DPI swap is to be cancelled and resubmitted with a wider slippage setting.
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### Author:  [@system](https://governance.aave.com/u/system)
#### Post date: [April 20, 2024, 3:31pm UTC](https://governance.aave.com/t/arfc-funding-update/16675/5 "2024-04-20T15:31:01Z")
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