DAO's MVI-ETH LP & INDEX Tokens

Background

The DAO allocated $200K to MVI-ETH LP in May 2021 per Proposal #QmUnrXb. It's worth ~$350K today (first link below), and we've accumulated ~$5K in INDEX Tokens. Today, $MVI only holds a 2.1% allocation of DG tokens (second link below).

Proposal

Convert the MVI-ETH LP and INDEX Tokens into DG. Time period is flexible to prevent frontrunning but within one week of proposal passing.

Rationale

At this point, the single-digit APY for this LP isn't particularly attractive; moreover, the allocation the fund is giving to DG is much too low for us to support it with LP for that reason alone.

The case is made for buying back DG in Proposal #QmYpfjx, but, with a live product and a p2e ecosystem growing exponentially, we are very bullish on DG at its current valuation.

Links

dgtreasury.eth MVI-ETH position: https://zapper.fi/account/dgtreasury.eth/protocols/ethereum/index-coop

IndexCoop Rebalancing: https://gov.indexcoop.com/t/metaverse-index-december-rebalance/3587