MIP - Accept ownership of the vault ma3WETH

Morpho Optimizer
1

MIP - Accept ownership of the vault ma3WETH

  • Author(s): Morpho Association

Summary

The Morpho Association proposes that the DAO accepts the ownership of the SupplyVault for WETH on the AaveV3-ETH Optimizer.

Motivation

The Morpho Association has deployed a SupplyVault contract after it was audited by Spearbit. The SupplyVault contract is an ERC4626 contract that allows assets to be deposited as supply only on AaveV3 Optimizers. In this case, the deployed contract allows WETH to be deposited into the AaveV3-ETH Optimizer called ma3WETH. This unlocks various integrations, such as creating Balancer pools paired with ma3WETH. At deployment, ownership was transferred to the DAO using a 2-step process for ownership transfer. The Morpho Association proposes that the DAO accepts the ownership to grant it the ability to trigger the following functions:

  • setMaxIterations: sets the maximum iterations to use when this vault interacts with Morpho.
  • setRecipient: sets the recipient for the skim function. The skim function allows the owner to skim ERC20 tokens (usually reward tokens) lying on the vault to a specific recipient (which could be a rewards distributor).

Specification

The steps are the following:

  • Submit a call triggering the acceptOwnership function on the ma3WETH contract through the MorphoAdmin contract.
  • After a delay of 14 hours, execute the transaction.

Testing

Here is a test of the transaction to be submitted.

References

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The vote has been pushed on snapshot.

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The proposal has been successfully executed.

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