✔️[ABIP-06] - [RFC] Whitelist assets for treasury

Summary

Treasury team would like to propose a framework where in up to 75% of the current treasury be used for acquiring productive & backing assets that can provide liquidity for ABI.

Abstract

This proposal seeks to do two things:

  1. Provide a framework for whitelisted reserve assets
  2. Allow treasury team to add to the treasury these assets via bonding, or rebalancing assets.

Proposed Reserve assets :
ETH, BTC, DAI, USDT, USDC, MUSD

Proposed revenue based assets:
BTRFLY, MTA, CRV, CVX, LINK, MATIC, OHM

All other assets if acquired will be sold into reserve assets. For example we earn BAL, IMX and other tokens with yields.

Motivation
After discussion with many stakeholders based on ABIP-04. The team has decided to put in place a whitelist of assets and better accountability of what can and cannot be added.

As a general framework, the assets to acquire must possess the following properties:

  1. Provide deep liquidity or base asset pair (e.g. btc/eth/gOHM)
  2. Provide revenue to the treasury (CRV, CVX, OHM, BTRFLY)
  3. Be needed for operations (e.g. LINK, Matic)

Reserve Assets:
75% of the treasury must always consist of the proposed reserve assets.
25% of those reserve assets must always be in Stables.

Revenue Assets:
A maximum exposure of 2.5% of the total treasury value per asset.

e.g. if Treasury is $100 we can only acquire $2.5 worth of btrfly max.

Acquisition of Reserve & Revenue Assets

Reserve assets will be offered via bonds and re balancing the treasury. The assets if acquired via rebalancing will be acquired before any announcement is made to prevent front-running.

Any new rebalancing, bonds or market buys will require both the treasury and policy teams to agree.

  • Yes - Lets vote
  • No - (Please provide comments)

0 voters

To clarify, what is the current treasury that the 75% applies to? Is it the 800k of stables on the dashboard?

Also the 2.5% max treasury usage to acquire revenue-assets, I presume that that restriction does not apply to Ohm?

Lastly, sorry for shilling but any thoughts towards the 19% for Anchor as a possible asset XD?

@Duskey - good comments.

  1. Yes the treasury being mentioned here is the stables and OHM shown in dashboard. You can also run the command !treasury in the discord server and get the treasury addresses on Zapper (they are missing some funds in impermax and other farms, but should be mostly accurate).

  2. Yes the 2.5% restriction is not on OHM, its been added to both reserve and rev asset classes.

  3. We are very closely looking at anchor. Will open a proposal for this once we have assessed risks.

1 Like

I agree. This is a solid step forward. As a step forward, it would make sense to set up a Dune dashboard where we can show the real-time stats such as:

  • current split between Reserve & Productive Assets
  • Split within each type of asset
  • yields from productive assets

etc. etc.