Convert Remaining ETH into a stablecoin

Convert remaining ETH into a stablecoin

Author: Commodore

ELI5 (Explain it Like I’m 5) Project Value-Add

This proposal is to convert 100% of the remaining ETH into stablecoins to support the typical expenditures of the DAO and to reduce a risk in a significant price drop impacting our efforts over the next few quarters.

Details

In December 2021, we voted on & executed a proposal that diversified treasury ETH into USDC. The treasury currently holds 155.19217 ETH, although we tend to transact in stablecoins throughout the DAO.

The kTx Team would execute the proposal at an approximate time as recommended by Steward Magnus. Generally speaking, we’d be targeting the current price range that ETH has been trading at over the past few months (~$1,900).