TWG: non-stablecoin asset swaps

As discussed at length in Treasury Assets Management #2 (Non-stablecoin assets) and previous posts, the Treasury Working Group has executed all swaps for all the custodied tokens. Below you can find a list of transactions and an explanation of the actions if necessary. Whenever possible we used the 1inch DEX aggregator or evaluated multiple DEX’s to get the best price.

We swapped the Badger tokens using 1inch. We received 0.29ETH for 122.03 BADGER tokens.

We swapped the SUSHI tokens using 1inch. We received 2.39 ETH for 3,284.53 SUSHI tokens.

We swapped the UNI tokens using 1inch. We received 3.72 ETH for 856.37 UNI tokens.

We swapped the TRIBE tokens using 1inch. We received 4.53 ETH for 41,257.90 TRIBE tokens.

We approved and swapped the COMP tokens using SushiSwap. We received 8.68 ETH for 281.60 COMP tokens.

For all of the above assets we were able to process the swaps on an Ethereum DEX meaning we could swap them from the multisig directly. Unfortunately, the GAL token did not have sufficient liquidity on Ethereum. The only DEX liquidity pairs were on BSC and it proved impossible to bridge the token from our multisig since none of the well-known liquidity-pool bridges support the token. Therefore, we temporarily transferred the GAL to a Binance account, sold it for ETH and sent the ETH back to the TWG multisig. We received 2.56 ETH for 1500 GAL tokens.

We approved and swapped our AVAX tokens on the Pangolin DEX. We wanted to bridge that WETH back to Ethereum, but had to complete the bridge action in a custodial manner since none of the AVAX bridges played nicely with the WalletConnect app integrated in the Gnosis multisig environment. We received 2.62 ETH for 193.27 AVAX.

The total sum of Ether (30.3960163501) acquired from swapping above tokens was sent back to the PoolTogether treasury.

All of the above tokens were sold as our directive indicated. In order to earn staking rewards on our MATIC tokens, we have swapped the MATIC tokens for stMATIC (staked MATIC) on Quickswap and sent these tokens to the multisig wallet of the Executive Team. Over time interest will accrue on these tokens.