Proposal to Grant TWG Allowance for Treasury Yearn Vault Positions
Summary
This proposal requests that the DAO grant the TWG onchain allowances for the Treasury’s holdings of Yearn vault positions.
The purpose of these allowances is to allow the TWG to actively manage these Treasury assets, primarily by unwinding them into DOLA where appropriate in order to derisk the balance sheet, increase Treasury flexibility, and support broader Treasury management operations.
Background
The Treasury currently holds a number of Yearn vault positions that have accumulated as part of Inverse’s partnership and integrations with Yearn.
These positions are strategically important to the DAO. Back in Q1 2025, the TWG negotiated a 65% fee share with Yearn for Yearn vaults integrated onto FiRM, and as a result a large portion of the Treasury’s balance in these assets has come from that arrangement. Over the past year, this has brought in an additional ~$80k of revenue for the DAO.
However, these positions should not remain operationally stranded in the Treasury. Market conditions change, partner risk changes, peg risk changes, and the DAO’s liquidity needs change. The TWG should be able to manage these assets directly and efficiently when prudent.
The main use case for this allowance is simple: to unwind Yearn vault positions into DOLA when appropriate, whether to derisk, simplify the Treasury balance sheet, improve stablecoin reserves, or respond more quickly to changing market conditions.
Proposal
Grant the TWG onchain allowance for the Treasury’s current Yearn vault holdings.
These allowances would allow the TWG to:
- unwind Yearn vault positions into DOLA
- reduce exposure to positions where the risk/reward is no longer attractive
- respond faster to protocol, partner, or market risk
- manage Treasury assets without needing a full governance cycle for each routine operational action
These approvals do not give the TWG arbitrary spending authority. They simply allow the TWG to pull the relevant vault tokens from the Treasury as needed to manage and unwind them appropriately.
On-Chain Actions
Grant the following allowances to the TWG:
- 3,454 of yvCurve-deUSD/DOLA-f
- 1,805 of yvCurve-dola-save-f
- 100,000 of yvCurve-DOLA-sUSDe-f
- 50,000 of yvCurve-DOLA-sUSDS-f
- 18,382 of yvCurve-DOLA/USR-f
- 5,000 yvCurve-reusdsdola-f
- 5,000 of yvCurve-savedola-f
- 4,695 of yvCurve-DOLAwstUSR-f
- 199,290 of ysUSDS