[GIP-287] Treasury Consolidation & Cleanup
AI summary
This proposal aims to streamline the Gearbox DAO's treasury by consolidating funds currently spread across various blockchain networks (Ethereum, Arbitrum, Optimism, Plasma) and multiple digital wallets into a single 'fee-receiver multisig' on Ethereum. A significant portion of these funds are 'diesel tokens' from old, inactive lending markets. The plan is to convert all stablecoins into USDC immediately, while volatile assets like Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH) will be held as is and only converted to USDC when needed for payments.
If passed, the DAO's financial management will become more efficient, making it easier to pay contributors in USDC. This benefits contributors by ensuring timely and predictable payments. The DAO's treasury will be more organized, but there's a minor risk of converting stablecoins at unfavorable rates, though this is generally low for stable-to-stable swaps.
Voting results
Votes over time
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🐳 Whale votes
9 votes > 5% VPFull proposal
Summary
The DAO's spendable funds are spread across multiple multisigs on Ethereum, Arbitrum, Optimism and Plasma, much of it held as Gearbox pool deposits (diesel tokens) in markets that have been wound down. This proposal authorizes the financial guard to consolidate these holdings onto the fee-receiver multisig on Ethereum and convert them to USDC for contributor compensation.
Stablecoins are swapped to USDC during consolidation. Volatile assets (tBTC, WBTC, WETH, wstETH and similar) are held as they are and swap…