Foundation Update: Wallet Recovery and Treasury Consolidation
As mentioned in the Q3 DAO report, part of the Foundation’s ongoing cleanup initiatives has involved an analysis of legacy TrueFi wallets and smart contracts. We have concluded reviewing historical DAO wallets to ensure that all on-chain assets are properly accounted for and managed under Foundation oversight.
During this process, several legacy wallets were identified and handed over to the Foundation. After verifying ownership and confirming that the balances were idle and not linked to any active operations or obligations, we plan to claim these assets to fund ongoing Foundation activities and support DAO operations.
| Wallet Name |
Owner |
Asset |
Network |
Balance |
|
|
|
|
|
| Protocol Treasury |
TrueFi DAO |
TRU |
Ethereum |
188,074 |
| stkTRU Distributor |
TrueFi DAO |
TRU |
Ethereum |
25,000 |
| Rating Loans |
TrueFi DAO |
TRU |
Ethereum |
2,258,022.06 |
| Loan Rating Rewards – Distributor |
TrueFi DAO |
TRU |
Ethereum |
135,402.57 |
The total of these balances will be transferred into Foundation-managed wallets for operational use, where they will remain visible and traceable on-chain.
This initiative aligns with our broader goals of:
-
Streamlining wallet management and improving transparency
-
Consolidating DAO-controlled assets to simplify treasury operations
-
Supporting continued development and ecosystem growth as we approach Elara’s launch
Next Governance Steps
As the proposals does not fall under the simplified governance exemptions, the proposal will require the following steps:
1. Forum Posting: A 72-hour posting period on the forum to allow the community to provide feedback.
- Snapshot Vote: A 48-hour Snapshot vote will be conducted with the options: “OK to vote on Tally,” “Not OK to vote on Tally,” and “Abstain.” At least 5% of staked TRU must participate in this Snapshot vote to meet the quorum.
3. Amendment Period: If the 5% quorum is met, with a majority negative vote, a 72-hour period will follow to allow for any amendments or discussions before the proposal is posted to Tally.
4. Tally Vote: Otherwise, the proposal will be posted to Tally for the final vote.
3 Likes
Hi!
Thank you for this proposal!
Is there specific addresses? ALso is there other assets hopefully also in those addresses besides TRU?
I think it is a good idea to consolidate tokens and assets from long time unused wallets and into a mutli-sig wallet of active operators of Truefi.
2 Likes
Hi @Suvicrypto,
I’m Stefan, part of the Finance team, and I think this is a good moment to share some additional details on this topic.
We’ve updated the initial list of wallets to also include the Revenue Wallet on Arbitrum, and we’re now publishing the addresses and balances of all wallets proposed for consolidation under TFIP-34.
Below is the full overview:
| Wallet Name |
Wallet Address |
Owner |
Asset |
Network |
Balance |
| Loan Rating Rewards – Distributor |
0x05461334340568075bE35438b221A3a0D261Fb6b |
TrueFi DAO |
TRU |
Ethereum |
135,403 |
| Revenue Wallet |
0xEEECA18FF2EEA7663f6E6348fAfc859958d7Cb99 |
TrueFi DAO |
USDC |
Arbitrum |
3,564 |
| Revenue Wallet |
0xEEECA18FF2EEA7663f6E6348fAfc859958d7Cb99 |
TrueFi DAO |
USDT |
Arbitrum |
1,041 |
| Revenue Wallet |
0xEEECA18FF2EEA7663f6E6348fAfc859958d7Cb99 |
TrueFi DAO |
ARB |
Arbitrum |
45,000 |
| Protocol Treasury |
0x863461596aB57b91B873b26D4F0a701a9703B9Ca |
TrueFi DAO |
USDC |
Ethereum |
32,008 |
| Protocol Treasury |
0x863461596aB57b91B873b26D4F0a701a9703B9Ca |
TrueFi DAO |
TRU |
Ethereum |
188,074 |
| Rating Loans |
0x6151570934470214592AA051c28805cF4744BCA7 |
TrueFi DAO |
TRU |
Ethereum |
2,258,022 |
| stkTRU Distributor |
0xecfD4F2C07EABdb7b592308732B59713728A957F |
TrueFi DAO |
TRU |
Ethereum |
25,000 |
The total of these balances will be transferred into Foundation-managed wallets for operational use, where they will remain fully visible and traceable on-chain.
All transfers will go to the existing multi-signature wallet already used for Foundation operations, known as:
New Treasury — 0xC03151bAc97F692e5b71Eb49635A624141f7477b
This consolidation is part of the broader wallet recovery and treasury unification process outlined in TFIP-34, aimed at improving transparency, security, and reporting consistency across all DAO-owned assets.
Additionally, I invite all DAO members to explore the DAO Treasury Report, which presents multiple reporting formats — including asset balances in USD equivalent as of the latest month closed (End of September) — offering a comprehensive view of the DAO’s financial position.
2 Likes