Compound

Summary

This proposal is a series of minor maintenance actions from the list of Protocol Maintenance Tasks, to withdraw the reserves of deprecated markets and residual cToken balances to the governance-controlled Timelock, and migrate deprecated assets (SAI and REP).

This proposal makes no opinion of how reserves are used; it reduces technical risk, and streamlines future governance operations.

Proposal Actions

First, the proposal withdraws the reserves of deprecated markets: SAI, REP, FEI, and WBTC (legacy) to the Timelock, in four actions.

Next, the proposal redeems the Timelock’s cDAI and cUNI for DAI and UNI in two actions.

Then, the proposal redeems the balance of SAI held by the Timelock for WETH through MakerDAO’s SaiTap contract, by calling approve and then redeeming.

Last, the proposal migrates the balance of REP held by the Timelock to REPv2, by calling approve and then migrating.