CIP003 Congruent treasury liquidation

Proposal details

I think the DAO has been a successful experiment and we all appreciate the hard work of the Core Team but Gaas tokens have been below backing for some time already and current market forces are just too unpredictable. So I propose a liquidation of the treasury assets to be returned to holders.

Key points

Convert all treasury assets to USDC Distribute treasury assets to Gaas holders based on the circulating supply when the proposal is approved

Calculation

Total circulating supply at the time of raising the proposal: 4,892 Gaas Total treasury assets in USDC (Depends on the snapshot result): 20,000,000 Each Gaas gets $20,000,000/4,892 = $4,088 (Depends on the snapshot result)

Steps

Stop the rebase vGaas unlock released, all holders can withdraw freely Within 3 days of approval, the LP is removed, and snapshot is taken Within 5 days of approval, all non-Gaas assets in the treasury converted to USDC By the 5th day after approval, the team must create an interface for Gaas holders to claim their USDC

I hope the Core Team can respect the wishes of the community and the people who have held long term already and see that the interests and decisions of the community are accepted.