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JPEG’dJPEG’dby0x51C2cEF9efa48e08557A361B52DB34061c025a1B0x51C2…5a1B

PIP-20: Use Excess Stablecoins To Purchase ETH

Voting ended over 3 years agoSucceeded

Abstract JPEG'd DAO has approximately $29m in excess stablecoin balances. It also has a very low overhead. Use up to $10m of this excess stablecoin balance to purchase ETH.

Background JPEG'd DAO is run very lean and has relatively low overhead compared to it's excess stablecoin balances. With $15m stables and a profitable business the runway for the DAO is many years. We could use up to $15m of the excess stablecoins to purchase ETH. The purchase time and total amount would be up to the discretion of the multisig, but would likely be done over the course of several months.

Off-Chain Vote

Yes authorize up to $15m.
5.44B JPEG100%
No do not authorize
0 JPEG0%
Quorum:261%
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Timeline

Oct 16, 2022Proposal created
Oct 16, 2022Proposal vote started
Oct 19, 2022Proposal vote ended
Oct 26, 2023Proposal updated