[Foundation Instruction] Bridge assets from spoke chain timelocks to hub chain timelock

Governance DAO Instructs Foundation
, , ,
1

1. Overview:

This DAO Foundation Instruction proposal requests that the foundation withdraw assets from the relevant timelock controllers on Ethereum, Sonic, Arbitrum and HyperEVM (totalling around $22,247 at time of posting) and swap the assets to USDC and bridge them back to the Base Timelock Controller.

2. Motivation:

At present, the spoke chains have approximately (at current market prices) $22,247, across the following chains;

  • Ethereum: ~$19,414
  • Arbitrum: ~$1,656
  • Sonic: ~$429
  • HyperEVM: $748

Given Base is the hub chain for the Lazy Summer Protocol, and all payments, such as referral rewards, staking payouts and others are paid for from the Base Chain, it makes sense to move assets to this chain for future usage.

Also, given the timelock delay, it is more complex (and risky) to swap and bridge the assets via a full governance vote, and as such, I recommend that the recognised delegates signal support for the foundation completing this action.

3. Specification:

  1. Withdraw assets from the relevant timelock controllers;
  • Ethereum: 0x447BF9d1485ABDc4C1778025DfdfbE8b894C3796
  • Arbitrum: 0x447BF9d1485ABDc4C1778025DfdfbE8b894C3796
  • Sonic: 0x4c32A28AD95deaBc06bF7C83AdEbCF6fe6721ED9
  • HyperEVM: 0x244c6efc140b9cc4d69d3bf4d9137dc4195be86c

to the foundation Multisig: 0xB0F53Fc4e15301147de9b3e49C3DB942E3F118F2

  1. Swap assets on the source chains to USDC at current prices. Market orders should be sufficient given relatively low values.
  2. Bridge the assets to Base Network
  3. Send to the Base Timelock Controller: 0x447BF9d1485ABDc4C1778025DfdfbE8b894C3796

5. Recognised Delegate Support Indicator:

Do you support the DAO Instruction to the foundation to withdraw, swap and bridge assets from the spoke chains to the hub chain, Base.
  • Yes, I/We support the instruction
  • No, I/We do not support the instruction
0 voters

Tagging @Recognized_Delegates

3 Likes
Lazy Summer Governance Recap [May 2026]
Lazy Summer Governance Recap [April 2026]
2

The Foundation confirms that the actions contemplated under this instruction have been completed.

In summary, the Foundation received the relevant assets from the spoke-chain timelocks, swapped the assets into USDC, bridged the resulting USDC to Base, and transferred the USDC balance back to the Lazy Summer Timelock Controller on Base.

The total amount returned to the Base timelock was 19,265.28 USDC.
Final transfer transaction for reference:
0x89645bb80419cb14746ddf9421eed2e00ef13e45487b357b583dccdfb6991878a

This completes the execution of the proposed Foundation instruction.

2 Likes