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DopeDAODopeDAOby0xA12D1Aa37e0A2939044d2FC67704CD55B8A852fEpospanda.eth

Ensure the Dao has stable funding regardless of market conditions

Voting ended about 4 years agoSucceeded

Currently the Dao has over 349,000 USD value in ETH at the time of writing. https://etherscan.io/address/0xb57ab8767cae33be61ff15167134861865f7d22c The proposal is to move a percentage of the Ethereum assets into stablecoin USDC . API 3 is one such treasury that has USDC in their DAO holdings. As well as others in the top 10 Daos. https://deepdao.io/organizations

It would be a one time emergency action due to uncertainty of the market at this time, and to ensure regardless of market conditions, the team has funds to build, market, and all the requirements of the project.

The vote is for 90% usdc / 10% eth 75% usdc/25% eth 50% usdc/50% eth or don't do anything

Rather than risk downside which looks likely in the broader markets with multi week downtrends in the SPY and Dow Jones, likely rate hikes by the Fed of 25 basis points and future hikes planned and the uncertainty with the Ukraine Russian war, we PROTECT the DAOS current holdings in USD value by moving a % to stable coin. Rather than risk the DAO losing almost 10 % of its warchest or more if the broader traditional markets test critical levels there, possibly more, we enact this one time emergency measure.

Off-Chain Vote

Do nothing
183 32.9%
USDC 50 % ETH 50 %
287 51.6%
USDC 75 % ETH 25 %
31 5.6%
USDC 90% ETH 10 %
55 9.9%
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Timeline

Mar 14, 2022Proposal created
Mar 14, 2022Proposal vote started
Mar 15, 2022Proposal vote ended
Oct 11, 2024Proposal updated