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Bag.winBag.winby0xb3Ab3a2f58a7d91Fe3Dcf9ABAd53C0dD1603B847ryandg.eth

Update to ICE Buys

Voting ended about 3 years agoSucceeded

Background

The DG DAO has been using USDC removed from the ICE-USDC pool last year as well as all revenue from MATIC rewards, Secondary Sales, and Marketing efforts to buy ICE, pair with USDC, and add to the ICE-USDC pool.

We currently have ~$60K left from the USDC allocation and $12K left from our recent LAND sale to buy ICE and add to the LP.

We expect Proposal #bafkrei ('Change Income Allocations') to pass which will (1) Redirect MATIC rewards and Marketing Revenue to buying DG, and (2) Allocate Secondary Sales to buy and burn ICE.

Proposal

Future purchases of ICE will be held by the DG DAO.

Rationale

This will extend our timeline and efficacy of the buys since half of the remaining ~$72K won't be used as the USDC side of the ICE-USDC pair. If we're able to sell the remaining 150 parcels of LAND, it's also worth noting that 10% of those proceeds would be used to buy and hold ICE.

Off-Chain Vote

YES
15.44M xDG100%
NO
179.47 xDG0%
Quorum:154%
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Timeline

Jan 27, 2023Proposal created
Jan 27, 2023Proposal vote started
Jan 30, 2023Proposal vote ended
Mar 03, 2025Proposal updated