# \[ARFC\] Migrate & Consolidate Polygon Treasury **URL:** \ **Category:** Governance\ **Created:** [March 11, 2023, 7:36pm UTC](https://governance.aave.com/t/arfc-migrate-consolidate-polygon-treasury/12248 "2023-03-11T19:36:39Z")\ **Posts on this page:** 5\ **Page:** 1
**Author:** ![Llamaxyz](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/llamaxyz/32/2044_2.png) [@Llamaxyz](https://governance.aave.com/u/Llamaxyz)\ **Post date:** [March 11, 2023, 7:36pm UTC](https://governance.aave.com/t/arfc-migrate-consolidate-polygon-treasury/12248/1 "2023-03-11T19:36:39Z")
* * * title: [ARFC] Migrate & Consolidate Polygon Treasury author: @llamaxyz created: 2023-03-11 * * * # Summary Llama proposes consolidating and migrating funds held in the Polygon v2 Collector Contract to the v3 Treasury. # Abstract The Polygon Aave v2 Collector Contract has accumulated holdings in several long tail assets over time. This proposal seeks to acheive the following: - Transfer - Assets from v2 Collector Contract to v3 Treasury - Consolidation - Swap GHST, JEUR, SUSHI, and DPI for USDT # Motivation ## Collector Contract The image below shows an overview of the current Collector Contract holdings. ![](https://i.imgur.com/0LJCw1i.png) Address: `matic:0x7734280A4337F37Fbf4651073Db7c28C80B339e9` | Deployment | Ticker | Price | Quantity | USD Value | | --- | --- | --- | --- | --- | | Aave V2 | amUSDC | $1.00 | 3,700,350.15 | $ 3,700,350.15 | | Aave V2 | amDAI | $1.00 | 3,350,246.64 | $ 3,350,246.64 | | Aave V2 | amUSDT | $1.00 | 1,337,100.44 | $ 1,337,100.44 | | Aave V2 | amWETH | $1,380.00 | 226.39 | $ 312,418.20 | | Aave V2 | amWMATIC | $0.99 | 95,223.15 | $ 94,270.92 | | Aave V2 | amBAL | $5.51 | 1,125.41 | $ 6,201.01 | | Aave V2 | amGHST | $1.35 | 1,916.02 | $ 2,586.63 | | Aave V2 | amCRV | $0.83 | 7,936.95 | $ 6,587.67 | | Aave V2 | amWBTC | $19,750.00 | 0.03 | $ 620.56 | | Aave V2 | amLINK | $6.07 | 31.72 | $ 192.54 | | | | | Total | $ 8,810,574.75 | Address: `matic:0x7734280A4337F37Fbf4651073Db7c28C80B339e9` ## Treasury Contract ![](https://i.imgur.com/A3pLSSs.png) | Deployment | Ticker | Price | Quantity | USD Value | | --- | --- | --- | --- | --- | | Aave V3 | aPolWMATIC | $0.92 | 93,795.45 | $ 86,291.81 | | Aave V3 | aPolUSDC | $1.00 | 29,489.55 | $ 29,489.55 | | Aave V3 | aPolWETH | $1,272.05 | 14.76 | $ 18,775.46 | | Aave V3 | aPolUSDT | $1.00 | 11,868.17 | $ 11,868.17 | | Aave V3 | aPolWBTC | $17,160.74 | 0.46 | $ 7,844.17 | | Aave V3 | aPolBAL | $6.16 | 2,032.60 | $ 12,520.82 | | Aave V3 | aPolDAI | $1.00 | 5,268.76 | $ 5,268.76 | | Aave V3 | aPolGHST | $1.04 | 2,788.45 | $ 2,899.98 | | Aave V3 | aPolSUSHI | $1.27 | 2,055.89 | $ 2,610.97 | | Aave V3 | aPolJEUR | $1.05 | 2,622.03 | $ 2,753.13 | | Aave V3 | aPolCRV | $0.68 | 3,519.53 | $ 2,393.28 | | Aave V3 | aPolAGEUR | $1.05 | 2,008.71 | $ 2,109.15 | | Aave V3 | aPolLINK | $7.14 | 173.51 | $ 1,238.86 | | Aave V3 | aPolAAVE | $63.96 | 8.67 | $ 554.79 | | Aave V3 | aPolEURS | $1.05 | 339.01 | $ 355.96 | | Aave V3 | aPolMIMATIC | $0.99 | 559.81 | $ 554.21 | | Aave V3 | aPolDPI | $70.85 | 2.29 | $ 161.96 | | Aave V3 | aPolSTMATIC | $0.96 | 1,801.62 | $ 1,729.56 | | Aave V3 | aPolMATICX | $0.95 | 14.85 | $ 14.11 | | | | | Total | $ 189,434.70 | Address: `matic:0xe8599F3cc5D38a9aD6F3684cd5CEa72f10Dbc383` ## Redeem Collector Contract aTokens, Transfer Treasury and Deposit Aave v3 As has been widely discussed on the forum, Aave v3 offers enhanced risk management tools and presents a lower risk environment to users. Here, we propose that v2 aTokens be redeemed and transferred to the v3 Treasury address. From the v3 Treasury address, the tokens can be deposited into Aave v3. Utilisation across the v2 deployment is low and there is excess liquidity within each reserve that enables Aave’s aTokens to be redeemed without affecting users. Llama proposes migrating liquidity at the first available opportunity. There is also ongoing and soon to be expanded liquidity mining occurring on the Aave v3 deployment. ## Consolidate Assets Similar to a proposal relating to the [Ethereum v2 Collector Contract consolidation](https://governance.aave.com/t/arfc-ethereum-v2-collector-contract-consolidation/10909), we suggest swapping all JEUR, SUSHI, GHST + DPI to USDT. The general flow of events is redeeming xSUSHI, GHST and DPI from the v3 Treasury and then swapping the assets for USDT. | Network | Deployment | Ticker | Price | Quantity | USD Value | | --- | --- | --- | --- | --- | --- | | Polygon | Aave V3 | aPolDPI | $70.85 | 2.29 | $ 161.96 | | Polygon | Aave V3 | aPolSUSHI | $1.27 | 2,055.89 | $ 2,610.97 | | Polygon | Aave V3 | aPolJEUR | $1.05 | 2,622.03 | $ 2,753.13 | | Polygon | Aave V3 | aPolGHST | $1.04 | 2,788.45 | $ 2,899.98 | | | | | | Total | $ 8,426.05 | Why USDT, Aave holds more DAI and USDC on Polygon than USDT. If Aave was to deploy liquidity into a 3pool, then more USDT would be required when depositing equal amounts of each asset into the pool. The vlaue of the assets being swapped to USDT is very small relative to exisitng stable coin holdings. # Specification The following assets held within the v2 Collector Contract are to be redeemed and transferred to the v3 Treasury wallet. Using 1inch’s Fusion in auto mode perform the following: 1. Redeem aPolGHST, aPOLjEUR, aPolSUSHI and aPolDPI 2. Approve GHST, JEUR, SUSHI and DPI 3. Swap all GHST, JEUR, SUSHI and DPI to USDT 4. Deposit USDT into Aave v3 USDT Reserve Fusion offers MEV protection and Cowswap is not deployed on Polygon. Contract Address references: aPolGHST: `0x8Eb270e296023E9D92081fdF967dDd7878724424` aPolSUSHI: `0xc45A479877e1e9Dfe9FcD4056c699575a1045dAA` aPolDPI: `0x724dc807b04555b71ed48a6896b6F41593b8C637` aPOLJEUR: `0x6533afac2E7BCCB20dca161449A13A32D391fb00` GHST: `0x385Eeac5cB85A38A9a07A70c73e0a3271CfB54A7` SUSHI: `0x0b3F868E0BE5597D5DB7fEB59E1CADBb0fdDa50a` DPI: `0x85955046DF4668e1DD369D2DE9f3AEB98DD2A369` jEUR: `0x4e3Decbb3645551B8A19f0eA1678079FCB33fB4c` USDT: `0xc2132d05d31c914a87c6611c10748aeb04b58e8f` aPolUSDT: `0x6ab707Aca953eDAeFBc4fD23bA73294241490620` # Copyright Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). ---
**Author:** ![Llamaxyz](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/llamaxyz/32/2044_2.png) [@Llamaxyz](https://governance.aave.com/u/Llamaxyz)\ **Post date:** [March 14, 2023, 6:27pm UTC](https://governance.aave.com/t/arfc-migrate-consolidate-polygon-treasury/12248/2 "2023-03-14T18:27:31Z")
Hi Everyone, 👋 Given this proposal is very similar to an earlier [post](https://governance.aave.com/t/discussion-migrate-consolidate-and-deploy-polygon-treasury/10980). We created the following Snapshot with voting to start tomorrow. [https://snapshot.org/#/aave.eth/proposal/0x1b816c12b6f547a1982198ffd0e36412390b05828b560c9edee4e8a6903c4882](https://snapshot.org/#/aave.eth/proposal/0x1b816c12b6f547a1982198ffd0e36412390b05828b560c9edee4e8a6903c4882) Thank you to those that participate in the vote in advance. ---
**Author:** ![fig](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/fig/32/7063_2.png) [@fig](https://governance.aave.com/u/fig)\ **Post date:** [March 15, 2023, 2:13pm UTC](https://governance.aave.com/t/arfc-migrate-consolidate-polygon-treasury/12248/3 "2023-03-15T14:13:28Z")
Hi team - thanks for this. I’d be curious to gauge the community’s preference for USDC or DAI over USDT. ---
**Author:** ![Llamaxyz](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/llamaxyz/32/2044_2.png) [@Llamaxyz](https://governance.aave.com/u/Llamaxyz)\ **Post date:** [April 20, 2023, 5:35pm UTC](https://governance.aave.com/t/arfc-migrate-consolidate-polygon-treasury/12248/4 "2023-04-20T17:35:14Z")
Hi Everyone 👋 With @bgdlaba [Aave v2/v3 Collectors unification](https://app.aave.com/governance/proposal/?proposalId=203) proposal progressing nicely, we will preparing this proposal for submission in the coming weeks. There are a few notable changes to what is outline in the original publication. These are stated below: - Assets previously held within the v2 Collector Contract will soon be held in the v3 Treasury address. As a result, redeeming aTokens will occur from the Treasury address and the step to transfer between the two addresses is no longer required. - CRV & LINK upon being redeemed for CRV can not be deposited into v3. As a results, these assets will remain deposited into Aave v2. With the bb-a-USD pool on Polygon now deployed by Balancer, Llama will be preparing an ARFC for the next step in deploying Aave’s assets on Polygon. ---
**Author:** ![TokenLogic](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/tokenlogic/32/8248_2.png) [@TokenLogic](https://governance.aave.com/u/TokenLogic)\ **Post date:** [December 14, 2023, 12:15pm UTC](https://governance.aave.com/t/arfc-migrate-consolidate-polygon-treasury/12248/5 "2023-12-14T12:15:29Z")
Hi Everyone, A new AIP is to be submitted that will migrate the DAOs assets from the Polygon v2 to v3. The PR can be found [here](https://github.com/bgd-labs/aave-proposals-v3/pull/126/files/6b36ccc613339256d37b38cda95b4196d45dbccb#diff-81d58a917373bf7bccedcdba33393eb48ea5152fcba3cbe150304f104ee51d2f). Do note, the implementation used to migrate assets uses a different approach to what is outlined above. The revised proposal does not use the migration tool.