Abstract
This proposal is a routine update to the Endowment Manager permissions. It expands the Endowment’s access to real-world-asset (RWA) and fixed-income positions, adds a set of curated Morpho yield vaults and the Aave v3 Horizon market, enables Maple (Syrup) swap routing, and introduces a dedicated reward-claim role. No permissions are removed.
Motivation
The update continues the diversification of the Endowment’s stable and ETH allocations into vetted yield and fixed-income venues while keeping all activity within the Investment Policy Statement (IPS). New access covers fixed-yield principal tokens via Pendle, curated lending and yield vaults on Morpho (kpk, Steakhouse, Smokehouse, and Sentora), and the RLUSD market on Aave v3 Horizon. A separate Harvest role is introduced so that protocol reward claims can be executed with payouts forced to the Endowment safe, without granting broader permissions.
Specification
Additions
1. Token Approvals
| Token | Functions Allowed | Mainnet Address |
|---|---|---|
| sUSDS | approve |
0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD |
| PT-sUSDS-26NOV2026 | approve |
0xdc169abe56461a2e0c034da431ac2a3ebf596094 |
| PayPal USD (PYUSD) | approve |
0x6c3ea9036406852006290770BEdFcAbA0e23A0e8 |
| Ripple USD (RLUSD) | approve |
0x8292Bb45bf1Ee4d140127049757C2E0fF06317eD |
2. RWA and Fixed-Income Positions
| Contract | Functions Allowed | Contract Address |
|---|---|---|
| Pendle Router V4 | swapExactTokenForPt swapExactPtForToken redeemPyToToken |
0x888888888889758F76e7103c6CbF23ABbF58F946 |
| kpk Euler RWA Vault | deposit withdraw redeem |
0x2B47c128b35DDDcB66Ce2FA5B33c95314a7de245 |
3. Morpho Yield Vaults
| Vault | Functions Allowed | Contract Address |
|---|---|---|
| kpk USDC Yield (Vault V2) | deposit withdraw redeem |
0xD5cCe260E7a755DDf0Fb9cdF06443d593AaeaA13 |
| kpk ETH Yield (Vault V2) | deposit withdraw redeem |
0x5dbf760b4fd0cDdDe0366b33aEb338b2A6d77725 |
| Steakhouse High Yield USDC | deposit withdraw redeem |
0xbeeff7aE5E00Aae3Db302e4B0d8C883810a58100 |
| Smokehouse USDC | deposit withdraw redeem |
0xBEeFFF209270748ddd194831b3fa287a5386f5bC |
| Sentora PYUSD Main | deposit withdraw redeem |
0xb576765fB15505433aF24FEe2c0325895C559FB2 |
| Sentora RLUSD Main | deposit withdraw redeem |
0x6dC58a0FdfC8D694e571DC59B9A52EEEa780E6bf |
4. Aave v3 Horizon Market
| Contract | Functions Allowed | Contract Address |
|---|---|---|
| Aave v3 Horizon Pool (RLUSD) | supply withdraw |
0xAe05Cd22df81871bc7cC2a04BeCfb516bFe332C8 |
5. Swaps (CoW Protocol token lists)
| Token | Change | Mainnet Address |
|---|---|---|
| syrupUSDC | Add to sell and buy lists | 0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b |
| syrupUSDT | Add to sell and buy lists | 0x356B8d89c1e1239Cbbb9dE4815c39A1474d5BA7D |
6. Reward Claims (new Harvest role)
| Distributor | Functions Allowed | Contract Address |
|---|---|---|
| Fluid Distributor | claim |
0x7060FE0Dd3E31be01EFAc6B28C8D38018fD163B0 |
| Fluid GHO Distributor | claim |
0xF398E66B1273a34558AeBbEC550DccaF4AcC7714 |
| Merkl Distributor | claim |
0x3Ef3D8bA38EBe18DB133cEc108f4D14CE00Dd9Ae |
All token approvals are spender-pinned to the specific protocol contract they enable. A new Harvest role is created to isolate reward-claim permissions, with all claim payouts forced to the Endowment safe.
Removals
None in this update.
Reviewing the Permissions Policy
To review, the following resources are provided:
Considerations
All positions conform to the Endowment’s risk tolerance under the Investment Policy Statement (IPS). All venues in this update are permissionless; the Aave v3 Horizon RLUSD position is on the stablecoin supply side, which requires no onboarding or whitelisting, and no other position in this update carries an onboarding precondition.
Next Steps
The proposal will be introduced in the next meta-governance call. Pending review from Blockful and no revisions following discussion during the meta-governance call, this proposal will progress to an on-chain executable vote.