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Cedar GovernanceCedar Governanceby0x01DD800Ffc1119Ae8D2B5Df35f9F85BaF2d2386CELG Owner

Conversion of Remaining USDC to SOL for Temporary Liquidity Storage

Voting ended about 1 year agoSucceeded

This vote relates to the temporary storage of our liquidity tokens prelaunch, not the allocation for the final liquidity pools.

In reaction to the recent fall in the price of Solana (SOL), we now need to determine whether to convert the remaining 1,099,252.85 USDC held in temporary liquidity storage into SOL at current market prices or maintain it in USDC until it is used to seed liquidity at relaunch.

Options for SOL Allocation

✅ [For] Convert 100% of the remaining 1,099,252.85 USDC to SOL

Pros:

  • Capitalizes on the current price dip, potentially increasing the value of the SOL holdings if prices recover.
  • Strengthens alignment with the Solana ecosystem ahead of relaunch.

Cons:

  • Higher exposure to SOL price fluctuations, with the risk that prices may fall further before relaunch.

❌ [Against] Keep 100% of the remaining USDC in USDC

Pros:

  • Reduces risk by maintaining funds in a stable asset, protecting against further price volatility.
  • Ensures flexibility to deploy funds at a later stage when market conditions are more predictable.

Cons:

  • If SOL appreciates before relaunch, we may miss out on the opportunity to increase our SOL holdings at lower prices.

Voting Purpose: This vote helps decide how to manage our remaining liquidity in response to market conditions, balancing potential growth with risk management as we prepare for relaunch. Thank you for participating!

Disclaimer: The committee will adhere to the decision of the token holders and carry out the swap in the most timely and efficient manner possible. However, the committee cannot be held responsible for the final swap prices, timing, slippage, or any other factors affecting the final outcome or the value of the liquidity tokens.

Off-Chain Vote

For
70.32M ELG94.3%
Against
4.23M ELG5.7%
Quorum:7454814208%
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Timeline

Feb 26, 2025Proposal created
Feb 26, 2025Proposal vote started
Feb 28, 2025Proposal vote ended
Apr 19, 2025Proposal updated