# \[BIP-909\] Permissions Update Request #8

**URL:** <https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898>\
**Category:** Karpatkey Updates\
**Created:** [December 11, 2025, 3:23pm UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898 "2025-12-11T15:23:42Z")\
**Posts on this page:** 7\
**Page:** 1

<div class="post-metadata">

**Author:** ![kpk](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/kpk/32/3793_2.png) [@kpk](https://forum.balancer.fi/u/kpk)\
**Post date:** [December 11, 2025, 3:23pm UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/1 "2025-12-11T15:23:42Z")

</div>

# PR with payloads

> <https://github.com/BalancerMaxis/multisig-ops/pull/2574>
>
> Add \*\*Permissions Update Request #8\*\* JSONs for Mainnet, Arbitrum and Gnosis Cha…in. Tenderly simulations below: 
> \[Ethereum\](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/6d4bfc58-6d33-4789-8ab2-b41c838fde30)
> \[Arbitrum \](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/5e4f8037-b376-4947-a225-545e5a771ae4)
> \[Gnosis Chain\](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/aecaecc7-2bf0-4eef-a801-c316a787ba17)

**Edit** : Following the suggestions in our last ecosystem call, this Permission Update Request was divided into two:

PUR #8 - Permissions for Arbitrum and Gnosis Chain  
PUR#9 - Permissions for ETH Mainnet

This action was taken to expedite the release of the already reviewed permissions. No changes were made to the requested permissions.

The following text reflects these changes, and the ETH Mainnet Permission Update Requests will be shared in a new post, where their review will continue.

# Abstract

This proposal requests BalancerDAO’s approval for updates and new actions to the permissions policy governing the kpk-managed treasuries on Arbitrum, and Gnosis Chain.

The proposed changes expand the existing permissions to include new strategies, protocols, swaps, and bridging routes, while removing obsolete or deprecated contracts and interactions. They also streamline kpk’s fee-collection process and revoke the delegation’s permissions from the Zodiac Roles Modifier, as outlined in BIP-890.

The additional permissions focus on strategies that aim to increase the treasury’s risk-adjusted yield without introducing material new risk vectors to the current allocation. These include allocations to Aave Umbrella, Ethena, Spark, Resolv, new markets on Compound as well as kpk-curated vaults on Morpho and curated markets on Gearbox, among others.

# Motivation

Treasury management must evolve in line with market conditions and protocol developments, including migrations, new pool launches, and improved access to financial instruments. Protocols and pools previously assessed as too immature or risky for BalancerDAO may become viable over time as they demonstrate reliability, liquidity, and operational robustness.

The proposed additions will allow kpk to implement advanced investment strategies such as delta-neutral stablecoin exposure, curated vaults, and the upgraded version of the Aave safety module, while deprecating outdated or higher-risk contracts.

# Changes to the Permissions Policy

This proposal outlines the following modifications to the permissions policy:

### Gnosis Chain:

- Bridge:
  - Omnibridge:
    - Update and addition of bridging routes from Gnosis Chain to Mainnet (same as above)

- Stakewise: removal of SeedNode vault (deprecated)

### Arbitrum:

- Morpho: deposit and withdrawal into - kpk - USDC Yield
- Balancer v2: withdrawal permissions for Balancer BAL - axBAL
- Swaps (Cow Swap):
  - COW, ARB \<\> USDC/ETH/WETH/ sUSDE/USDE
  - USDC, USDT, USDE, sUSDE \<\> USDC, USDT, USDE, sUSDE
  - WETH, wstETH, ETH \<\> WETH, wstETH, ETH
  - ARB \<\> USDC, ETH, WETH

# Zodiac Roles Modifier Permissions Policy

## Permissions page

Gnosis Chain: link [here](https://roles.gnosisguild.org/permissions/gno/obxIpOjPq551byb8Idw0mGd7dTfbDYmAg2Hc6XXNo)

Arbitrum: link [here](https://roles.gnosisguild.org/permissions/arb1/8IZASVEjeZvjJTJbOrY9MbsbQPEwVugMS1u4UAB8)

## Permissions diff page

Gnosis Chain: link [here](https://roles.gnosisguild.org/gno:0x13c61a25DB73e7a94a244bD2205aDba8b4a60F4a/roles/MANAGER/diff/obxIpOjPq551byb8Idw0mGd7dTfbDYmAg2Hc6XXNo)

Arbitrum: link [here](https://roles.gnosisguild.org/arb1:0x13c61a25DB73e7a94a244bD2205aDba8b4a60F4a/roles/MANAGER/diff/8IZASVEjeZvjJTJbOrY9MbsbQPEwVugMS1u4UAB8)

---

<div class="post-metadata">

**Author:** ![gosuto](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/gosuto/32/2014_2.png) [@gosuto](https://forum.balancer.fi/u/gosuto)\
**Post date:** [January 12, 2026, 1:43pm UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/2 "2026-01-12T13:43:50Z")

</div>

# Gnosis

## TX 1-7: Remove Deprecated StakeWise SEEDnode Vault

`revokeTarget`: stakewise seednode vault

`revokeFunction`: deposit, update, mint, burn, queue, claim

lgtm

## TX 9-11, 18-19: Omnibridge Routes

`USDC/USDT/WETH/WBTC.transferAndCall(_to: HomeOmnibridge, _data: AVATAR)`

lgtm

## TX 12: Change Approvals of GNO

`GNO.approve(Genesis/Axol/Serenita/NEDO/Stakecat/Stakesaurus, *)`

Note: roles ui is showing all of these vaults are being revoked a lot of calls (eg burnOsToken, updateState, etc). I dont see those revokes being present in the proposed payload ([https://github.com/taravellokpk/multisig-ops/blob/03457c49fb6bdb28f29934acf6cf19c48705b03c/BIPs/2025-W51/balancer-pur8-gno.json](https://github.com/taravellokpk/multisig-ops/blob/03457c49fb6bdb28f29934acf6cf19c48705b03c/BIPs/2025-W51/balancer-pur8-gno.json))

eg left column here in this screenshot:

 ![Screenshot 2026-01-12 at 15.25.00](https://canada1.discourse-cdn.com/flex027/uploads/balancer/original/2X/9/9185e3dcc3a3965e7ccc2b1f62d36bcc6daec67e.jpeg)

what am i missing, how are those permissions being revoked if there is no mention of them in the payload?

same goes for these approvals disappearing which is not in line with what i am seeing in the payload (tx 12 explicitly keeps them?)

 ![Screenshot 2026-01-12 at 20.36.13](https://canada1.discourse-cdn.com/flex027/uploads/balancer/original/2X/3/3aaa0ef64efaa40d21a159098bca5a26252a8d9c.jpeg)

bug in ui? iiuc, the intention is simply to remove the `GNO.approve(seednode, *)` permission

## TX 8, 13-17: Enable Use of USDC Transmuter

`USDC/USDCe.approve(USDCTransmuter, *)`

`USDCTransmuter.deposit(*)/withdraw(*)`

Note1: not mentioned in your forum post

Note2: i interpret the roles ui here to show a _replacement_ of the `GPv2VaultRelayer` address with the `USDCTransmuter` address. but as far as i understand, the transmuter here is being added (ie besides the permission to approve \* to the vault relayer). Bug in the roles ui?

 ![Screenshot 2026-01-12 at 14.47.41](https://canada1.discourse-cdn.com/flex027/uploads/balancer/original/2X/8/8b9f81ac3228daff90f2e5e0c8d7d48d6acd3df6.jpeg)

imo the ui should show a blue table on the right side with `_to` `0x0392...` OR `_to` `0xc92e...`

`scopeFunction` args from the payload:

```json
{
    "roleKey": "0x4d414e4147455200000000000000000000000000000000000000000000000000",
    "targetAddress": "0xDDAfbb505ad214D7b80b1f830fcCc89B60fb7A83",
    "selector": "0x095ea7b3",
    "conditions": "[
        [\"0\",\"5\",\"5\",\"0x\"],
        [\"0\",\"0\",\"2\",\"0x\"],
        [\"1\",\"1\",\"16\",\"0x0000000000000000000000000392a2f5ac47388945d8c84212469f545fae52b2\"],
        [\"1\",\"1\",\"16\",\"0x000000000000000000000000c92e8bdf79f0507f65a392b0ab4667716bfe0110\"]
    ]",
    "options": "0"
}

```

## TX 20-21: Enable Use of USDS

`USDSDepositContract.relayTokens(*)`

Solidity source code:

```solidity
function relayTokens(address recipient) external payable {
    IHomeBridgeErcToNative(xDAIBridge).relayTokens{value: msg.value}(recipient);
}

```

Note: is there a reason this is unconstrained? Looks like this gives the module a blank check to bridge xdai to any address? Why not limit `recipient` to `AVATAR` only?

## TX 22: KPK Kit Metadata

Log some stuff via erc3722 poster contract ([ERC-3722: Poster](https://eips.ethereum.org/EIPS/eip-3722)).

FYI this contract is not verified on gnosisscan (i did get a partial verification via blockscout)

---

<div class="post-metadata">

**Author:** ![kpk](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/kpk/32/3793_2.png) [@kpk](https://forum.balancer.fi/u/kpk)\
**Post date:** [January 14, 2026, 9:19am UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/3 "2026-01-14T09:19:56Z")

</div>

Hello! Thanks for the feedback.

Here are answers to your points:

- **UI bug / screenshots** : In your screenshots you’re using the annotated version of the diff page. Could you switch to the [non-annotated view](https://roles.gnosisguild.org/gno:0x13c61a25DB73e7a94a244bD2205aDba8b4a60F4a/roles/MANAGER/diff/obxIpOjPq551byb8Idw0mGd7dTfbDYmAg2Hc6XXNo?annotations=false)? It’s much clearer for reviewing the permission changes. That should address your questions there.

- **Enable use of USDC Transmuter** : When bridging USDC from Mainnet to GC, USDC.e is the default destination token. That’s expected behaviour, not a UI bug. We added the Transmuter so you can swap USDC.e\<\> USDC on GC directly from the [bridge UI](https://bridge.gnosischain.com/usdc). If you’d rather, we can also execute it via CoW Swap.

- **Enable use of USDS** : Yep, we intentionally limited the recipient to the Avatar only. You can see it clearly on the diff page (see image below).

---

<div class="post-metadata">

**Author:** ![gosuto](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/gosuto/32/2014_2.png) [@gosuto](https://forum.balancer.fi/u/gosuto)\
**Post date:** [February 2, 2026, 6:32am UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/4 "2026-02-02T06:32:09Z")

</div>

# Gnosis

ah great, sorry i missed the annotation toggle. i wasnt expecting it to actually display erroneous info in this other mode. anyway all good for this chain then!

# Arbitrum One

matches your description on forum (except for “ARB \<\> USDC, ETH, WETH” which is a typo i believe; already covered by “COW, ARB \<\> USDC/ETH/WETH/ sUSDE/USDE”)

## Tx 0, 2-5, 9-23: Approvals

- `USDC.approve({CCTP|Morpho_kpk_USDC|CoW_Swap_Vault}, *)`

- `BAL.approve(Balancer_V2_Vault, *)`

- `axBAL.approve(Balancer_V2_Vault, *)`

- `sUSDe.approve(CoW_Swap_Vault, *)`

- `USDe.approve(CoW_Swap_Vault, *)`

- `USDT.approve(CoW_Swap_Vault, *)`

- `ARB.approve(CoW_Swap_Vault, *)`

- `COW.approve(CoW_Swap_Vault, *)`

- `WETH.approve(CoW_Swap_Vault, *)`

- `wstETH.approve(CoW_Swap_Vault, *)`

## Tx 1

- sell: `(wsteth or WETH)` to buy: `(wsteth or WETH or ETH)`

- sell: `(ARB or COW)` to buy: `(sUSDe or USDe or WETH or USDC or ETH)`

- sell: `(sUSDe or USDe or USDC or USDT)` to buy `(sUSDe or USDe or USDC or USDT)`

## Tx 6-8: Join and Exit Balancer V2 Pools

- `VaultV2.joinPool(bpt_BAL_axlBAL, AVATAR, AVATAR, *)`

- `VaultV2.exitPool(bpt_BAL_axlBAL, AVATAR, AVATAR, *)`

## Tx 24-28: Wire Up Safe CoW Swap Order

signing via custom callback and twap orders:

- `Safe.setFallbackHandler(ExtensibleFallbackHandler)`

- `Safe.setDomainVerifier(*, ComposableCoW)`

- `ComposableCow.createWithContext(*, CurrentBlockTimestampFactory, *, TWAP)`

## Tx 29-32: Morpho Deposit and Withdrawals

- `Morpho_kpk_USDC.deposit(*, AVATAR)`

- `Morpho_kpk_USDC.withdraw(*, AVATAR, AVATAR)`

- `Morpho_kpk_USDC.redeem(*, AVATAR, AVATAR)`

---

<div class="post-metadata">

**Author:** ![gosuto](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/gosuto/32/2014_2.png) [@gosuto](https://forum.balancer.fi/u/gosuto)\
**Post date:** [February 5, 2026, 11:40am UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/5 "2026-02-05T11:40:25Z")

</div>

# Ethereum

first batch of reviews; tx0-26. 27-189 are work in progress

## Tx 0: Set Allowance for sending USDC

creates an allowance of 100 USDC per 90 days with label `USDC_KPK-FEES`

**NOTE:** i believe this is missing some decimals? intention is 100k usdc == `100000000000`

## Tx 1-4: Revoke AAVE/stAAVE Delegation Calls

- revoke ~~`AAVE.delegate`~~

- revoke ~~`stAAVE.delegate`~~

- revoke ~~`AAVE.delegateByType`~~

- revoke ~~`stAAVE.delegateByType`~~

## Tx 5-6: Revoke Unstake via Lido’s stETH Queue

- revoke ~~`unstETH.requestWithdrawalsWithPermit`~~

- revoke ~~`unstETH.requestWithdrawalsWstETHWithPermit`~~

**NOTE:** unclear why revoked? also not mentioned in your forum post

## Tx 8-9: Revoke sGYD

- revoke ~~`sGYD.deposit`~~

- revoke ~~`sGYD.redeem`~~

**NOTE:** unclear why revoked? also not mentioned in your forum post

# Tx 10: Revoke sUSDS

- revoke ~~`sUSDS.deposit`~~

**NOTE:** unclear why revoked? is this simply because you want to pass a referral code on balancer’s behalf (tx#21)? also not mentioned in your forum post

# Tx 11-13: Revoke Old XDai Bridge

- revoke ~~`bridge.relayTokens`~~

- revoke ~~`bridge.executeSignatures`~~

**NOTE:** unclear why revoked? also not mentioned in your forum post

# Tx 14: Annotation Metadata

N/A

# Tx 15, 17, 19-20: USDC, USDT, USDS Approvals

- grant `WETH9.approve({ForeignOmnibridge|kpkWETH|cWETHv3|UmbrellaStakeToken|kpk_ETH_PrimeV2|UmbrellaBatchHelper})`

- grant `USDC.approve({})`

- grant `USDT.approve({cUSDTv3|ForeignOmnibridge|stkwaEthUSDT.v1|AavePool|UmbrellaBatchHelper|spUSDT})`

- grant `USDS.approve({BridgeRouter|cUSDSv3})`

# Tx 16: Narrow Comet Claiming Scope

- grant `CometRewards.claim({cUSDTv3|cUSDSv3|cWETHv3|cUSDCv3})`

**NOTE:** why? previous `claim` was unscoped (which is fine imo), now only these 4 specific comets can be claimed?

# Tx 18: Grant Sending USDC to KPK (Using Allowance)

this uses the allowance created in Tx 0 to send USDC to the KPK fees address:

- grant `USDC.transfer(KPK, ≤USDC_KPK-FEES)`

# Tx 21: Grant sUSDS Depositing

previously revoked in Tx 10, but now re-granting depositing but also allow for passing of a referral code:

- grant `sUSDS.deposit(*, AVATAR, *)`

**NOTE:** why?

# Tx 22: OETH?

- grant `OETH.rebaseOptIn()`

**NOTE:** OETH is not mentioned in your forum post at all?

# Tx 23

grant more scope to the `AngleDistributor.claim` `address[] users` arg. instead of only allowing array `[AVATAR]`, now also allow for:

- `[AVATAR,AVATAR]`

- `[AVATAR,AVATAR,AVATAR]`

- `[AVATAR,AVATAR,AVATAR,AVATAR]`

- `[AVATAR,AVATAR,AVATAR,AVATAR,AVATAR]`

**NOTE:** why not make `users` unscoped?

# Tx 24-25: Grant Omnibridge

- grant `ForeignOmnibridge.relayTokens({WBTC|WETH|USDT}, AVATAR, *)`

- grant `ForeignOmnibridge.relayTokensAndCall(USDC, EOA, *, AVATAR)`

**NOTE:** why is `_receiver` here hardcoded to EOA `0x0392A2F5Ac47388945D8c84212469F545fAE52B2`??

# Tx 26: Receive Gnosis Bridges

- grant `ForeignAMB.safeExecuteSignaturesWithAutoGasLimit` to claim tokens `{WBTC|GNO|USDC|WETH|USDT}` coming from gnosis chain

# Tx 27-189

wip

---

<div class="post-metadata">

**Author:** ![maxyz.xyz](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/maxyz.xyz/32/3806_2.png) [@maxyz.xyz](https://forum.balancer.fi/u/maxyz.xyz)\
**Post date:** [February 6, 2026, 11:35am UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/6 "2026-02-06T11:35:19Z")

</div>

Edit by MAXYZ:

- Assign BIP-ID
- remove Ethereum permissions as requested by @kpk

---

<div class="post-metadata">

**Author:** ![maxyz.xyz](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/maxyz.xyz/32/3806_2.png) [@maxyz.xyz](https://forum.balancer.fi/u/maxyz.xyz)\
**Post date:** [February 6, 2026, 2:32pm UTC](https://forum.balancer.fi/t/bip-909-permissions-update-request-8/6898/7 "2026-02-06T14:32:03Z")

</div>

[https://snapshot.org/#/s:balancer.eth/proposal/0x8f1f69fba5d2d2ac82bf9d35e3c014bc572f7587d671eb6983f11995b259d1b2](https://snapshot.org/#/s:balancer.eth/proposal/0x8f1f69fba5d2d2ac82bf9d35e3c014bc572f7587d671eb6983f11995b259d1b2)