We are excited to share our Monthly Report on the GnosisDAO Treasury for August 2023!
August Highlights
In August, the treasury activities went around increasing market liquidity on Gnosis Chain through Balancer and Aura, capturing the enhanced DSR opportunity, and partially repaying DAI debt. Here’s a summary of the month’s executed tasks:
- Created and increased funds in various pools on Balancer GC (staBAL3, wstETH/staBAL3, EURe/staBAL3, wstETH/GNO, wstETH/WETH, wstETH/AURA/BAL).
- Migrated several Balancer pools after a vulnerability was detected. No funds were lost.
- Following its launch on GC, staked Balancer GC LP tokens on Aura.
- Removed funds from the cDAI+cUSDC pool in Curve and the CRV/GNO pool in Honeyswap GC.
- Bridged a total of 115K GNO, 6.5K ETH, 137K AURA, and 5M COW from Mainnet to GC to continue with the Treasury migration plan for increasing GC support and TVL.
- Increased the borrowed DAI in both MakerDAO and Spark to capture an enhanced DSR opportunity of 8% that lasted for 3 weeks. Repaid this exposure afterwards.
- Used farming rewards to repay ~$3 million of DAI debt in MakerDAO.
- Deposited wstETH as collateral and minted GHO on Aave v3.
- Staked the total balance of PNK in the General Court on Kleros.
- Sent GNO rewards to Curve and provided GC incentives through StakeDAO and Votium.
- Executed a second payment of GIP-70, sending ~200K DAI and ~2K GNO to Gateway to cover their services from May to August.
- Migrated the Idle Finance position from the Lido Tranche to the Instadapp Tranche to improve returns.
- Deployed updated Roles Modifier presets to increase its scope and add new developed actions.
Results
The Treasury activities allowed for approximately $600K in farming results for August. We were able to progress with the bridging of funds to GC in order to build both the Gnosis Chain and the Gnosis ecosystem.
Your questions, comments, and suggestions are always welcome.