[TEMP CHECK] Treasury Management - Introducing StrategicAssetManager

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The Aave DAO is considering the introduction of a StrategicAssetManager contract to manage its strategic assets, including veBAL, with potential for future inclusion of sdCRV. The contract, controlled by the Short Executor role, will handle asset management, governance voting, fee claiming, and asset transfers, with discussions ongoing about the assignment of the AssetManager role and the structuring of DAO funds.

The discussion revolved around the introduction of the StrategicAssetManager, a dedicated contract for managing Aave DAO’s strategic assets, including the DAO’s veBAL holding, as proposed by Llamaxyz1. The contract, which is upgradeable and controlled by Aave’s Short Executor role via governance, will manage the DAO’s assets, participate in governance votes, claim protocol fees and other rewards, and transfer assets among other functions1.

John_TV_Locke suggested that the DAO should allocate a certain amount of tokens to the committee with a specified goal, and any new allocations should go through governance. He also proposed that assets that can be locked should require optimistic consent2. TokenLogic clarified that the ShortExecutor needs to transfer assets from the Treasury to the StrategicAssetManager contract, which can only be done via a governance vote. This segregates strategic assets from non-strategic ones. At launch, the only strategic asset is veBAL, with the possibility of adding sdCRV later3.

The discussion also touched on the assignment of the AssetManager role to an address, with the initial AssetManager likely focusing on GHO liquidity management. If Aave DAO passively holds assets like LSTs, these are better held in the Treasury, not the StrategicAssetManagement contract. If the DAO considers Protocol Owned Liquidity, it could be held in the StrategicAssetManagement contract or a separate one. The DAO's veBAL holding boost can be delegated to another contract, meaning the DAO doesn't need to hold BPTs in the StrategicAssetManagement3. TokenLogic supports assigning the AssetManager role to a multi-sig, but believes more discussion is needed on how the DAO should structure its funds3.

Posted 5 months ago

Last reply 4 months ago

Summary updated 2 months ago

Last updated 03/12 08:00