Transfer funds - 150 ETH to xDai base

Below is a proposal to send 150 ETH to ETH relayer contract which facilitates the transfer to the Dev Multi-sig as outlined below, converted to Dai, USDC and WETH and bridged over to xDai and deposited into xDXdao base for worker payments.

Details

This proposal sends 150 ETH to the ETH relayer contract, identified as, 0xb9C11a239CEb03626b439dDeD95AC51ffe000795 , which will relay the ETH to the dev multi-sig address, identified as 0x5f239a6671bc6d2baef6d7cd892296e678810882 whose signatories have been verified as REP holders, which will convert and bridge the following assets:

  • xDai - 100 ETH
  • USDC - 50 ETH

The proceeds are intended to replenish xDXdao base and facilitate xDai base operations such as worker proposals and the buyback.

Risks and considerations

Transfer of these funds relies on the dev multi-sig and the ETH relayer. By the time this proposal passes, the ETH relayer will have been tested using previous proposals. xDai also presents risks because security is dependent on its limited validator set. Additionally, cross-chain bridges are still new and not battle-tested.

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