# IIP-79: Authorize the Operations Account for Aave, Balancer, Compound, and PoolTogether Strategies

**URL:** <https://gov.indexcoop.com/t/iip-79-authorize-the-operations-account-for-aave-balancer-compound-and-pooltogether-strategies/2402>\
**Category:** Proposal\
**Tags:** IIP\
**Created:** [18 August 2021 03:23 UTC](https://gov.indexcoop.com/t/iip-79-authorize-the-operations-account-for-aave-balancer-compound-and-pooltogether-strategies/2402 "2021-08-18T03:23:45Z")\
**Posts on this page:** 1\
**Showing post:** 10

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**Author:** ![prairiefi](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/prairiefi/32/792_2.png) [@prairiefi](https://gov.indexcoop.com/u/prairiefi)\
**Post date:** [20 August 2021 15:13 UTC](https://gov.indexcoop.com/t/iip-79-authorize-the-operations-account-for-aave-balancer-compound-and-pooltogether-strategies/2402/10 "2021-08-20T15:13:39Z")

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> [@mel.eth](#):
>
> Breakout of IC accounts and amounts, on a USD, INDEX, and % basis;

IIP-70 will fund $500k into the operations account multi-sig [0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1](https://etherscan.io/address/0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1) but as of the time of writing, there are no stablecoin in that account, only ETH2x-FLI, which we will sell to [fund the BED liquidity](https://gov.indexcoop.com/t/iip-54-bed-eth-liquidity-direct-provision-by-index-coop/1907). All other INDEX and the stablecoin remain in the original treasury wallet [0x9467cfADC9DE245010dF95Ec6a585A506A8ad5FC](https://etherscan.io/address/0x9467cfADC9DE245010dF95Ec6a585A506A8ad5FC)

> [@mel.eth](#):
>
> An explanation of why the stables in the Ops account are the subject of this IIP, as opposed to the Investment account;

The Investment Account is not yet funded with any assets. We are moving forward with the Operations Account first rather than launching both accounts at once.

> [@mel.eth](#):
>
> Proposed initial allocation (I see the examples, but I would like a clear indication of what the first allocation round would be); and,

Our rationale for not providing an initial allocation for this proposal other than committing to the stablecoin asset management guidelines constraints (no more than 50% in a single asset, no more than 50% in a single strategy) was the answer may change between when we wrote the original post and when we have the stablecoin and the approved authority to invest (which may be 1-2 weeks). Given that, I expect 50% USDC, 50% DAI, and to deploy into the optimal yield opportunity within these 4 protocols for those two assets, and we will adjust course as the optimal opportunity shifts.

> [@mel.eth](#):
>
> A proposed mechanism to adjust future allocations (as far as I’m concerned, this IIP can establish controls that don’t rise to the level of future IIPs, but allow a simple vote or challenge process once a rebalancing is signaled in the forum).

I would be interested in more information on your recommendation here. With the limited initial stablecoin available to invest ($500k), the current constraints and the limited number of approved protocols, I would suggest the decisions we will make should be non-controversial optimization decisions within those boundaries that will be shared with monthly financial reporting, and interested community members always have the option of tracking the transactions within the Operations Account wallet.

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_[View the full topic](https://gov.indexcoop.com/t/iip-79-authorize-the-operations-account-for-aave-balancer-compound-and-pooltogether-strategies/2402)._