This is a proposal to consolidate some of the holdings of the protocol into agEUR.
As can be found in the treasury page of our analytics, the protocol controls some tokens in its treasury that are not under the form of stablecoins and that have been earned through various operations across the protocol’s existence.
This includes notably:
Also this treasury page does not factor in some holdings the protocol has on StakeDAO liquid lockers (including claimable FXS, CRV, SDT, cvxPRISMA as well as sdCRV and sdFXS tokens).
The protocol is now not involved in Curve or Frax votes, and hasn’t been using these tokens to vote under any form for a while.
The proposal is for the protocol to use these tokens to buyback agEUR to consolidate the treasury and simplify its management.
To implement this proposal, we will simply transfer the tokens mentioned to the guardian multisig for it to take charge of the liquidation of the assets. Acquired agEUR will then be sent back to the governor multisig on mainnet.
The aim here is to consolidate the protocol’s treasury and equity into Euro denominated assets to further reduce the exposure of the protocol’s equity to any volatile asset that could lose in value.
Other goal is also to simplify the management of the protocol’s treasury.