tl;dr

Claim ~4.7 tBTC (474,659,503 sats) from Bridge Redemption Fees and transfer to the Threshold Committee multisig.

Background

tBTC Bridge Redemption Fees

Threshold DAO has been accruing tBTC redemption fees as a bank balance in favor of the Governor Bravo Timelock Controller address. These balances are held within the Bank contract and represent accumulated protocol fees from tBTC redemptions.

In order to utilize these assets, the fees must be claimed as tBTC ERC20 and transferred to the Threshold Committee multisig, as successfully executed in Jul 15th, 2025 under TIP-105.

Proposal

This proposal includes the transactions required to:

• Claim the tBTC obtained as redemption fees from the Bridge contracts
• Transfer the claimed tBTC to the Threshold Committee multisig for DAO-directed use, including protocol-owned liquidity (POL)

Transactions

The following actions are to be executed as part of this Governor Bravo governance proposal:

1. Authorize use of the bank balance

   • Contract: Bank
   • Method: increaseBalanceAllowance(address spender, uint256 amount)
   • Purpose: Allow the TBTCVault contract to use the DAO’s accrued redemption fee balance.

2. Claim tBTC via mint from the TBTCVault

   • Contract: TBTCVault
   • Method: mint(address recipient, uint256 amount)
   • Purpose: Convert the DAO’s redemption fee bank balance into tBTC ERC20 held by the Governor Bravo address.
   • Amount: 474,659,503 sats (~4.7 tBTC).

3. Transfer claimed tBTC to the Threshold Committee multisig

   • Contract: tBTC ERC20
   • Method: transfer(address recipient, uint256 amount)
   • Recipient: Threshold Committee multisig (0x9F6e831c8F8939DC0C830C6e492e7cEf4f9C2F5f)
   • Amount: 474,659,503 sats (~4.7 tBTC).

Notes

• This proposal follows the precedent established under TIP-99 and TIP-105, maintaining consistency in the handling of DAO-owned tBTC redemption fees.
• Execution of these transactions will enable the DAO to utilize earned redemption fees for protocol growth, liquidity, and other governance-directed initiatives.
• No new contracts or permissions are introduced; all interactions are performed via existing audited contracts.