TIP 099: Claim tBTC from Bridge Redemption Fees and transfer to the Treasury Guild

Proposals
1

Vote Type

Token holder DAO on-chain 7-day vote period

DAO-elected Sponsors
@Eastban , @JohnPackel

Tldr

Claim ~9.5 tBTC from Bridge Redemption Fees and transfer to the Treasury Guild.

Background

tBTC Bridge Redemption Fees

Threshold DAO is accruing tBTC redemption fees as a bank balance in favor of its Governor Bravo Timelock Controller address as can be seen on the Bank Contract (balanceOf).

In order to use these assets as POL these fees should get claimed as tBTC ERC20 and transferred to TTG multisig wallet, as it was already performed successfully back in July 2024 under TIP-82

Proposal

This proposal aims to include the transactions necessary to :

  1. claim the tBTC obtained as redemption fees and transfer them to the TTG to use as POL.

Transactions to be included in this Governor Bravo governance process:

  1. Execute the authorization to use the bank balance: increaseBalanceAllowance method (this function :https://etherscan.io/address/0x65Fbae61ad2C8836fFbFB502A0dA41b0789D9Fc6#writeContract#F6)
  2. Execute the Mint: TBTCVault.mint from the GB address (this function: https://etherscan.io/address/0x9C070027cdC9dc8F82416B2e5314E11DFb4FE3CD#writeContract#F11). Once done, that will claim TBTC ERC20 to the GB address.
  3. Execute the Transfer to the Treasury Guild multisig: TBTC.transfer (this function: https://etherscan.io/address/0x18084fbA666a33d37592fA2633fD49a74DD93a88#writeContract#F10).
7 Likes
2

I ran a simulation of all 3 transactions successfully here :
East’s public test transactions:

2 Likes
3

Governor Bravo on-chain 7-day vote process started :

Successful simulation for included transactions:

1 Like
4

Proposal executed:

2 Likes