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GOOP TROOPGOOP TROOPby0x026B9A9c57734558Ee78e1561049B6b5487333950x026B…3395

NounsDAO Prop 347

Voting ended over 2 years agoFailed

Lowering the USDC amount held by the Payer contract from the current 500,000 USDC to 200,000 USDC

With the first version of the upcoming upgrade the treasury assets are currently held by the TokenBuyer (0x4f2aCdc74f6941390d9b1804faBc3E780388cfe5) and the Payer (0xd97bcd9f47cee35c0a9ec1dc40c1269afc9e8e1d) contracts are not included in the forking calculation so members who decide to fork wouldn't receive their fair split.

In order for a fair forking mechanism I propose to reduce the USDC amount held by the Payer contract from the current 500,000 USDC to 200,000 USDC.

At the moment the TokenBuyer contract has a balance of 114.73 ETH, approximately 213K USD which means there is some buffer left still at the current price of ETH after the swap of ETH for 200,000 USDC.

The proposal contains 2 actions:

  1. lowering the baseline USDC amount from the current 500,000 USDC to 200,000 USDC
  2. withdrawal of the current USDC balance of the Payer contract to the Nouns treasury address

I believe that this is a fair and good compromise and won't affect the smooth operation of the DAO in the possible short time while implemented.

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Timeline

Jul 26, 2023Proposal created
Jul 26, 2023Proposal vote started
Jul 30, 2023Proposal vote ended
Oct 26, 2023Proposal updated