Title: [TEMP CHECK] Treasury Management - Avalanche v2 to v3 Migration
Author: @TokenLogic
Created: 2023-08-01
Summary
This publication proposes redeeming all Aave DAO funds on Aave v2 Avalanche and depositing the underlying assets into Aave v3 Avalanche.
Motivation
Aave DAO currently holds around $4.58M on Avalanche v2. The publication supports redeeming the assets shown below from v2 Avalanche and deposit them in v3 Avalanche.
The deposit rates on v3 are great than v2 and there is also wAVAX incentives being distributed across v3.
Upon assessing the utilisation of each applicable reserve on v3, there is sufficient Supply Cap capacity to support the migration of funds. Do note, the borrow rate on v2 will increase in response to migrating funds from v2.
Transferring the DAOs funds from v2 to v3 can be performed via the migration tool developed by @bgdlabs. There are also smaller holdings, example: wAVAX, that can be deposited to earn yield. This proposal will result in ~8.3% of the TVL on v2 being migrated to v3.
For reference, the Aave Avalanche v2 Treasury: 0x5ba7fd868c40c16f7aDfAe6CF87121E13FC2F7a0
Specification
Perform the following:
- Transfer funds from v2 to v3 via migration tool
- Deposit passively held assets into v3
Disclaimer
TokenLogic receives no payment from Aave DAO or any external source for the creation of this proposal. TokenLogic is a delegate within the Aave ecosystem.
Copyright
Copyright and related rights waived via CC0.