Proposal: Sell 5k STRK to Diversify into USDC

Description

Background

The Starknet Foundation has granted us 2 million STRK tokens. To diversify our treasury and ensure liquidity for ongoing development, we propose to sell another 500,000 of these tokens and convert them to USDC.

Proposal Details

We propose to sell 500,000 STRK tokens from our allocation and convert them directly into USDC.

This allocation will achieve the following:

Diversification of Treasury:

Convert a portion of our STRK holdings into a stable asset (USDC)

Reduce exposure to STRK price volatility

Liquidity for Development:

Provide approximately 350k USDC (at current market rates)

Funding for Ongoing Projects:

This chunk of USDC will be held in reserve for projects

Reduce Pressure on LORDS:

Alleviate the need to sell LORDS tokens for compensation, reducing sell pressure

Marketing and admin will continue being paid with LORDS from the team account

Execution

Upon approval of this proposal:

500,000 STRK tokens will be immediately swapped to USDC Funds will be kept in the Starknet Multisig until needed. STRK tokens will be taken from the Development account of Biblio DAO.

Caveat: The 2 million STRK funds are currently being sent to the Biblio DAO Dev Account. If not received at the time this proposal is accepted, the BIP will be executed as soon as the funds are received.