[BIP-453] Deposit 160k BAL into Aave v3

Payload With PR

Summary & Motivation

Since inception Balancer has been closely partnered with Aave, be it through their safety module on v1, boosted pools for a period of time, and as a delegate and voter. Balancer DAO has a large sum of BAL tokens idle in the treasury, and one of the best possible ways to benefit ourselves and the greater ecosystem would to have BAL available to borrow on Aave. The treasury would earn returns on the deposit, and anyone interested in borrowing BAL would have access.

At the time of writing 188.34k out of 350k total BAL is deposited in the Aave v3 module. I propose we deposit 160k, nearly the total remaining supply possible. As time goes on we can increase or decrease this strategy depending on market conditions.


The DAO Multisig on mainnet 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the BAL token address 0xba100000625a3754423978a60c9317c58a424e3D by writing the approve function with spender(address) as Aave v3’s proxy 0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2 and amount as 160000000000000000000000.

Then the DAO Multisig will then interact with Aave’s contract 0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2 by writing the supply function with the following arguements:

  • asset: 0xba100000625a3754423978a60c9317c58a424e3D
  • amount: 160000000000000000000000
  • onBehalfOf: 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f
  • referralCode: 0

Full support. For context, we do have partners interested in vault-like strategies hedging BAL on Aave depositing stablecoins, so this might benefit a broader use case of the token on these markets.

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