TL;DR

Convert the DAO Treasury from ETH to USDC as the price of ETH rises above 3,550 ETH/USDC

Proposal

The DAO Treasury is currently denominated 100% in ETH. This exposes our holdings to unnecessary risk and volatility.

Since January 2022 the value of our treasury has dropped an equivalent of 1,300,000 USDC from a high of 4,300,000 to a low of 3,000,000 USDC equivalent due to fluctuations in the price of ETH. (At the time of Snapshot our treasury is currently valued at 3,928,160 ETH equivalent.)

To preserve our treasury the Core Team proposes converting the majority of our ETH balance into USDC at progressive strike prices.

Budget & Schedule

Market sell 325 ETH when the value of ETH reaches 3,550 ETH/USDC Market sell 300 ETH when the value of ETH reaches 3,600 ETH/USDC Market sell 300 ETH when the value of ETH reaches 3,650 ETH/USDC Market sell 150 ETH when the value of ETH reaches 3,700 ETH/USDC

Request

Convert DAO Treasury ETH balance into USDC as the price of ETH rises above 3,550 ETH/USDC