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Nyolings GovernanceNyolings Governanceby0x0052D2e4AF4548e6Cf19e817B944CEdb23aE09dFcat5.eth

Community Fund Stable Coin Rebalancing Proposal

Voting ended almost 3 years agoSucceeded

Wallet Address: 0x068Bdbdb0cB4f9479292A319aA4eE184F6ae8784

Current ETH balance as of 4/16/23: 11.840934403847331509 

Current WETH balance as of 4/16/23: 0.980316011994999995 

Current BLUR pool token balance as of 4/16/23: 0.31245

Current WETH balance as of 4/16/23: 0.980316011994999995

Total ETH in USD Value (assuming ETH price of $2100 on 4/16/23): 13.133700415842331504 ETH / $27,580.77 USD value

Current BUSD holdings as of 4/16/23: 13,742.57

Proposal: To rebalance community funds to be 50% ETH and 50% BUSD. Assuming ETH price at $2,100, then we would need $20,661.67 in ETH and $20,661.67 in BUSD ( ($27580.77 + $13,742.57)/2 = $20,661.67). Because our current BUSD is $13,742.57, we would need $6,919.1 more BUSD ($20,661.67 - $13,742.57). At an average ETH price of $2,100, we would need to sell ~3.295 ETH Action Plans: Community Wallet send ~0.9803 wETH, 0.31245 Blur pool tokens, 2.00225 ETH to a trusted NYO board member. Trusted NYO board member will sell them on a centralized/dex exchange to get approximately 6,919.1BUSD. The trusted NYO board member will send the 6,919.1 BUSD to the community wallet.

Off-Chain Vote

YES
411 NYOLINGS100%
NO
0 NYOLINGS0%
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Timeline

Apr 20, 2023Proposal created
Apr 20, 2023Proposal vote started
Apr 22, 2023Proposal vote ended
Jul 25, 2024Proposal updated