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Bag.winBag.winby0xEEFe594294fc8E2800430a86A22eB30595d269920xEEFe…6992

Crypto bearmarket!

Voting ended over 3 years agoFailed

Currently there is about 4.7m DAI in the treasury.

It is obvious that crypto is in a bear market which makes it hard to get money into the dg ecosystem as is reflected with the prices of $dg $ice and wearables.

Now in order to grow the prices of dg ice and wearables we need new people into the ecosystem and one way of doing that is with a crypto bull market. Now the dai is currently not being used and all of the revenue is going toward supporting $ice. Now in order to grow the treasury and support the crypto market i believe it would be beneficial to use some of the dai to buy wbtc.

Thesis: Last pi cycle bottom print was when the price of btc was between 3000-4000 (https://www.tradingview.com/x/vyCthbHW/) Also below we see monthly rsi being at support

image

Proposal: So my proposal is that we use 5000dai per day to buy wrapped bitcoin from when this poll ends until 12 November 2022, this will estimate 450k dai in total.

Off-Chain Vote

Support crypto and buy btc
743.2K xDG76.3%
Keep the dai
230.74K xDG23.7%
Quorum:10%
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Timeline

Aug 07, 2022Proposal created
Aug 07, 2022Proposal vote started
Aug 14, 2022Proposal vote ended
Oct 26, 2023Proposal updated