Treasury Buy $420 of FBA (Firebird)

This is the First Proposal in an attempt to expand the Guru Network's treasury, in an initiative to increase the cold-backing of ELITE, following an OHM-like model.

Objective

Buying FBA token (current price $0.6) at Beethoven-x using 420 USDC from our Treasury. This represents 7% of our current liquid treasury.

Context

https://firebird.finance is a DEX aggregator, which whitelisted ELITE among the first communit-tokens of Fantom. It has generated over $800K in cummulative profits recently. Suggested Reading: https://firebirdfinance.medium.com/firebirds-1st-birthday-f5f6502c024

Limit

If at anytime the value of this holding falls beneath $250, we will exit this position

Future

The acquired tokens will be staked while held in Treasury to maximize yield. FBA earns profits that Firebird Aggregator makes. Upon realization of considerable profit from this investment, ELITENESS DAO members are requested to vote on future use of these tokens and its position in our treasury.

Notes

With this proposal, we have also activated the Treasury Module of Snapshot.

Treasury Overview

• https://ftm.guru/treasury
• https://debank.com/profile/guru