RFC-000-043: Expand the Scope of the YieldOps Group

Requests For Comment | RFC
1

Name: Broaden the scope of CEF to acquire tokens needed to introduce governance proposals to increase adoption of renAssets
Author: @OneofTenThousand
Category: Treasury
Status: Draft
Scope: CEF / Adoption of renAssets

Overview

renAssets have struggled to gain adoption on third party platforms. The first platform that comes to mind is Aave, with the ARC post almost two years ago. Adoption of renAssets is paramount. This DAO needs the tools to integrate renAssets everywhere it can. The current barrier to create an AIP is 50 Aave..

If this RIP passes, the Yield Ops group will purchase Aave and in the future other tokens using the best execution possible; The author believes Rook is the best option for the DAO. Rook supports multi-sig, its execution beats dex aggregators, it does not require gas, and the CEF will accrue ROOK rewards for all trades passed through their protocol, essentially owning our order flow. Learn more here. Our Yield Ops multisig address is here

Implementation

  • On approval, Yield Ops will coordinate the purchase of 50 Aave using the CEF.
  • The DAO will research additional protocols that require token purchases to submit gov proposals and communicate with the Yield Ops group on purchase requirements.
  • Yield Ops will use the best execution possible for all token buys/sells.
  • Yield Ops group will provide ongoing status reports to the DAO.
1 Like
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Thanks for the proposal @OneofTenThousand.

Cannot agree more that we should simply acquire 50 Aave if this is what is needed to get the ball rolling on that ARC.

However, if this is all that is needed, is there no one in the community with 50 Aave that can help out so we can get the ball rolling on the ARC as quickly as possible with minimal hassle?

In principle though I’m all for acquiring governance tokens with the treasury if the cost/benefits are favorable.

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I’m sure there are several members with the required Aave, but they have not come forward. The main idea here is to establish a framework to be able to repeat this without asking community members to step forward.

1 Like