0x0795d217…92b2sent to0xaa6bfa17…258e·#24,628,844·0x8c3c827a…8a7942
{"title":"Octant v2 On-Chain Proposal","description":"This post is a follow-up to [the earlier discussion](https://shutternetwork.discourse.group/t/octant-v2-pilot-to-optimize-treasury-strengthen-ecosystem/760) and [Snapshot temperature check(s)](https://snapshot.box/#/s:shutterdao0x36.eth/proposal/0x64462230c8984edfdc7bf2ffd9d5216c3e6d16db86ef78aae09ebafcd1f55238) approving the Octant v2 pilot concept and parameters. The remaining open decision is the final deposit amount, plus publishing the exact executable transaction bundle that will be submitted via Decent so the community can verify everything end-to-end before execution.\n\n## Update: Dry Run / Test Transactions\n\nAs requested, we have been running a dry run using the same governance execution path as production (Decent on-chain proposals and execution), but with a small test amount. The purpose is to validate the full lifecycle of actions and permissions in the exact environment Shutter will use for the full deposit.\nThe dry run scope (as discussed) includes: deploying the strategy and vault (where applicable), depositing a small amount of USDC, confirming yield accrual and the `report()` harvesting flow, verifying yield routing to the Dragon Funding Pool Safe, testing a standard withdrawal path, and testing emergency controls (shutdown + emergency withdraw back into the vault) to confirm the emergency response mechanism works as intended.\nSeveral of these steps have already been successfully executed. The remaining test actions are currently being completed. While this proposal can be reviewed in parallel, the final on-chain proposal will not be submitted on Decent until all dry run tests have been successfully completed and validated.\n\n## Context Recap\n\nWith the test run completed, the next step is for Shutter DAO 0x36 to deposit USDC from the main treasury Safe into a dedicated Octant v2 ERC-4626 vault configured to earn USDC yield via Morpho’s Steakhouse USDC strategy. The principal remains owned by (and withdrawable by) Shutter DAO 0x36 at all times. Yield is periodically realized via an on-chain `report()` call and routed 100% to a Shutter-controlled “Dragon Funding Pool” Safe to be used for Shutter ecosystem initiatives (via separate DAO processes).\nThis proposal is only for the treasury deposit and setup that enables ongoing yield flow to the Dragon Funding Pool. Any actual funding rounds / grants / disbursements remain separate decisions and can be proposed independently by the DAO.\n\n## **Proposed Initial Deposit Amount**\n\nThis proposal approves and deposits **1,200,000 USDC** from the Shutter DAO 0x36 treasury into the Octant v2 USDC vault.\nUSDC has 6 decimals, so the on-chain amount equals **1,200,000,000,000** base units.\nThis represents the **initial treasury allocation** for the pilot. The vault itself supports additional deposits in the future, which would require separate DAO approval and execution through Shutter’s governance process. This proposal does not impose a hard deposit cap unless the DAO explicitly chooses to do so in a subsequent vote.\n\n## Notes on APY Display During Testing\n\nAPY is variable and depends on the underlying strategy conditions; short time windows and UI calculation methods can show values that differ from longer-term averages. The pilot should be evaluated on realized yield over time rather than a single point-in-time APY display. This does not change the core safety model (principal remains withdrawable; emergency controls exist for strategy risk)."}