Treasury House
Treasury House
$ 1.6 Billion total assets and $32.9 million in payouts, Proposals, Tweet, and Good reads...
Growth Numbers 👀
Latest MultiSafe Stats
Total Users - 244
Payouts - $ 32.9 M ✅
Total assets - $ 1.6 Billion ✅
We spend a lot of time creating our Treasury management platform & this Newsletter so that we can provide you with the best experience and latest implementation across Coinshift & Crypto Treasuries. In this, our driving force is your feedback.
So, reach out to us on Discord. Every response will be read. ✌️
Subscribe to this Newsletter and share it with your peers or the ones who would be interested 👇
Proposals
1️⃣ Remove Idle Smart Treasury and deploy 200k IDLE into Bancor and Uni v3
This proposal seeks permission to deploy 200k IDLE into Bancor and Uni v3.
187k IDLE into IDLE/BNT pool on Bancor and earn the yield
23k IDLE + 14 WETH into Uni v3 full-range pool.
Idle DAO will benefit from Bancor's single-sided liquidity deployment and impermanent loss protection while reducing slippage on DEX.
Deploying 187k IDLE from the current Smart treasury (Balancer pool 1) to the IDLE/BNT pool could result in ~$900k pool liquidity.
$IDLE token holders will be able to further deploy single-sided liquidity up to ~$600k.
Furthermore, the DAO will increase the robustness of Uni v3 oracle, allowing more users to interact with $IDLE lending platforms safely.
Read the proposal here.
2️⃣ Fei Protocol ETH Yield Improvements
The motivation of this proposal is to improve the productivity of Fei Treasury such that the ETH yield that PCV does not appropriately manage can be further allocated to increase the yield on assets. It includes:
Moving 50M USD of ETH from each (Compound & Aave) PCV to Curve stETH-ETH pair that has 5.5B worth of liquidity. Currently, the recommended stETH allocation can be sold with 0.76% slippage.
Moving 10M USD of ETH from each (Compound & Aave) PCV to Tokemak. The allocation is smaller than ETH/stETH because it is a new DeFi protocol that is less liquid and more unstable. The farming rewards for one year can be sold for 1.8% slippage with current liquidity. Can use the additional reward of TOKE token to have more control over Tokemak
What is PCV?
Protocol Controlled Value (PCV) categorizes Total Value Locked (TVL), which represents all assets that are ultimately not redeemable by users.
Commonly used examples of PCV are DAO treasuries and insurance funds.
PCV can be conceptually extended to include algorithmic management of the protocol-owned assets to facilitate protocol goals such as liquidity and stability.
Source: Fei Protocol
Read the proposal here
3️⃣ OlympusDAO Liquidity Proposal
This proposal includes seeding Uniswap v3 concentrated liquidity pools and setting up tools and processes for concentrated liquidity management at Olympus.
What is Liquidity management?
Liquidity Management is done to reduce liquidity risk exposure
One type of liquidity refers to the ability to trade an asset at its current price
Another is the ability to meet cash and collateral obligations without incurring substantial losses
Source: Investopedia
➡️ Migration of OHM-FRAX
The execution of migration of OHM-FRAX liquidity from Uniswap v2 to Uniswap v3. According to OIP-26, which has already been proposed and accepted.
➡️ OHM liquidity on Uniswap
After the movement of OHM-FRAX liquidity pools to Uniswap v3 is, two Uniswap v3 pools, OHM-DAI and OHM-ETH, should be executed.
The new pools are ready, balanced and provide us with an opportunity to study potential trade volume, routing, arbitrage, and the ability to capture trading fees on Uniswap. The proposal seeks Permission to move up to $10M of liquidity from each (OHM-DAI & OHM-ETH) Sushi pair to Uniswap v3.
$10M in the OHM-DAI pool is 2.8% of the Sushi liquidity for the pair.
$10M in the OHM-ETH pool is 8.2% of the Sushi liquidity as of December 10, 2021.
The proposal seeks Permission to create OHM-ETH and OHM-DAI pools and vaults on Uniswap v3 and Migrate $10M each (OHM-DAI & OHM-ETH) pools from Sushi to Uniswap v3.
➡️ Enable and seed L2 liquidity on Uniswap
This action point aims to prepare Olympus to deploy deep liquidity on supported L2’s (Arbitrum and Optimism) by leveraging concentrated liquidity on Uniswap v3.
Both Arbitrum and Optimism have low activity compared to Ethereum L1. Therefore, will migrate only a limited amount of up to $1M in each target pool. $1M is 0.28% of the current OHM-DAI Sushi liquidity and 0.82% of the current Sushi OHM-ETH liquidity.
Migrate up to $1M of each (OHM-DAI & OHM-ETH) Sushi pair to Uniswap v3 on both Arbitrum and Optimism
➡️ Permission to deploy OHM for liquidity provision
The Olympus treasury team gets a clearer long-term view of OHM needs by earmarking OHM for liquidity provision use. The liquidity team can develop processes and gradually deploy OHM to match the new Uniswap v3 positions.
In Future liquidity, migration from Sushi will be combined with LP bonds to ensure that liquidity is not fragmented and at least the current depth is maintained.
Read the proposal here.
Twitter Highlight for this week
Good Reads📚
🔥 10 Predictions for Web3 and the Crypto economy for 2022
🔥 Road to Zero Emissions
🔥 Grayscale Digital Large Cap Fund Announce Quarterly Rebalancing of Funds
🎙️ Layer 1 blockchains as the new nation-states, pricing L1 crypto tokens, & unbundling money
About Coinshift
Coinshift simplifies treasury management by providing efficient multisig tooling to save time & money for crypto teams.
Stay connected. Stay Awesome 🤘