Migrating the Spool DAO Treasury Smart Vault [SIP - 1.19]

Summary :bookmark_tabs:

Transfer the 10 million DAI from the current treasury Smart Vault to a new one with increased yield.

Proposal :mailbox:

For the past X months the majority of treasury funds has been generating yield in its designated vault leveraging Aave, Compound, Convex (3pool), Curve (3pool), Harvest, Idle, and Yearn strategies. As the Curve strategy has decreased its yields and the exposure is equal due to Convex Finance, we propose to set up a new Treasury Smart Vault that has the Curve strategy removed and subsequently transfer the 10 million DAI into the newly created Smart Vault.

Motivation :fire:

The not yet needed DAO treasury funds shall continue farming yield within the Spool protocol but with a potentially higher APY. With this vote Spool DAO should decide to set up a new, unincentivized, low-risk Spool, to raise the yield from currently ~$178,000 annually to ~$223,000. The additional $45,000 will benefit future development and enable further improvement of the Spool protocol and brand.

Vote :ballot_box:

With β€œYes” you vote to set up a new Spool Treasury Smart Vault and transfer the balance of the current Treasury to it, with β€œNo” you vote against this strategy.

The vote takes place here

Timeline :clock130:

Submission Date: 29. November 2022

Voting period: 2022-11-28T23:00:00Z→2022-12-04T23:00:00Z