This proposal calls for the consolidation of assets inside the ANT treasury.
More specifically the smaller cap volatile assets held within the Aragon Treasury:
MANA
GTC
GRT
BAL
UNI
This proposal calls to consolidate these assets into assets such as ETH or assets such as USDT.
Rationale:
Aragon’s purpose and mission don’t seem to be aligned with holding some assets that are set to underperform compared to assets such as ETH / Stables. ANT’s treasury should consist of blue chip assets that have proven themselves in all market conditions.
For this reason I think this is what is best for the longevity of the treasury, and all the members of Aragon.
In relation to these tokens, the only one on that list from an ecosystem perspective I’d like to see held for now is MANA. Decentraland is built on AragonOS and we will be scoping how we can work with them to migrate over to OSx. They have significant AUM including the land. In the future the plan is to create deeper incentive alignment between these DAOs built on Aragon and potentially participate in DAO2DAO meta-governance. Impartial to holding the others, although Uniswap is a DAO that technically could migrate over as they are on GB.
Just my opinion. Let me know if you have any thoughts.
Completely agree — gotta be good to users and partners.
I’d also say, instead of consolidating into ETH, I’d say wstETH is a better idea. That way we can start generating yield straight away. $11bn in AUM + governed by Lido, which is powered by Aragon. If not all the treasury, IMO at least 50%.
PS: There was already a proposal put forth to the AA committee to do exactly this. It makes calculations way easier and in general simplifies the treasury.
Agreed with the premise of the consolidation. I think we have to keep some of the GRT to use the subgraphs, but not sure we need most of it. As for the other assets agree with @luis and @Anthony.Leuts that we should hold MANA. The rest can be considered for consolidation with future partnerships kept in mind.
Tend to agree with @AntHolder on consolidation of treasury assets. Outside of partnerships, and positions that generate yield, I think most of the positions should be consolidated into ETH and stables.
Liquid Staking is a good idea, however, going all in on Lido’s stETH flies in the face of Ethereum’s and Aragon’s goals of supporting decentralization. Lido is poised to take 33% of all validators soon.
Any movement of funds to liquid staking should be made to a diversified portfolio of LSTs as vetted by the DAO. At the moment, this would be stETH and rETH. In the future, it would also include others (swise, stader, etc.) as they become vetted.
The APR is approximately the same, but Lido has significantly larger tail risks. I don’t feel it is responsible to go all in one ONE liquid staking token. Especially one that threatens blockchain health.
How are we consolidating? Given that Aragon has already direct access to market makers, and that the amounts aren’t critical, processing market orders should be fairly easy. Is there anyone working at the Aragon Association?
