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Bag.winBag.winby0xb3Ab3a2f58a7d91Fe3Dcf9ABAd53C0dD1603B847ryandg.eth

Next Steps on the DAO's ETH --> wBTC trade

Voting ended about 2 years agoSucceeded

Background

Following a passed governance proposal ~3 months ago (https://snapshot.org/#/decentralgames.eth/proposal/0x2560674a61be1cb7b297cd259d5022287db184817822120e061710ee5c949506), 400 ETH was swapped into wBTC at a ratio of ~0.0555 ETH/BTC. At the time of writing, this 22.29 wBTC is still worth ~400 ETH.

Proposal

If and only if ETH/BTC < 0.0555, give the team discretion to coverting wBTC back into ETH. Moreover, this ETH would be staked for stETH.

Rationale

It's a win for the DG DAO to lock gains if they begin to become material; otherwise, there's some value to being diversified across ETH and BTC if ETH/BTC remains in range or even increases beyond where we initially made the conversion.

Off-Chain Vote

YES
10.37M xDG95.1%
NO
533.64K xDG4.9%
Quorum:109%
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Timeline

Jan 23, 2024Proposal created
Jan 23, 2024Proposal vote started
Jan 30, 2024Proposal vote ended
Mar 03, 2025Proposal updated