DG Team Discretion to Sell More MANA

Background

MANA price has appreciated from ~$0.25 on March 2nd to > $1. This is great for the DG DAO, of course, which owns ~650K MANA.

In the past, we’ve needed a proposal to allocate any Gameplay Treasury for other purposes (e.g. Proposal #QmeSNev).

Proposal

Give the DG Team discretion to sell up to 350K MANA so long as MANA price is > $0.8. These discretionary funds would only be used to supply other DAO Treasuries, so they can either converted to ETH and paired with $DG Treasury $DG as ETH-$DG LP or to DAI for DAI yield (proportion also at the team’s discretion).

Rationale

In the past, we’ve targeted ~$150K USD value in a given token for a blackswan losses event, and ~$700K is clearly too high for this purpose. The funds could be put to better use elsewhere. Giving the DG Team flexibility here around the exact timing of the sale enables better speed of execution (don’t have to wait 4+ days after deciding we want to sell).

Lastly, we will still have ~300K DAI and ~300K MANA in the Gameplay Treasury if the Team chooses to convert all the proposed MANA. Therefore, should the DAO decide to support gameplay in a new token, there is plenty remaining to allocate ~$150K to USDT Gameplay Treasury, for example, and leave > $150K in DAI and MANA each.