Great to see this sort of discussion – it seems to offer a bright future for Aave’s treasury.
IMO, it promises three core things:
- diversity, into new asset classes
- liquidity, focusing on debt funds
- returns, targeting 500bps
As mentioned in previous comments, RWAs are a way to introduce more resiliency into treasury management and grow Aave’s focus beyond crypto-native assets:
This is low(er) risk and seems to improve Aave’s capital efficiency; it shows agility.
I’m supportive of a limited investment of $1mm of Aave’s stablecoin treasury, leading the infrastructure for Aave to ramp up RWA exposure and build familiarity with new, professional managers.
While the largest cost of this proposal is the stkAave incentives and legal set-up, if there is strong community interest it may be worth scaling it to 2-3mm to more quickly pay back this investment.
Disclaimer: This is my personal view … I am not a CFA, etc.