Emergency proposal to close loan and exchange USDC (fork) for ETH

Abstract This proposal seeks approval to close the loan secured by ETH collateral and exchange USDC (fork) for ETH.

Motivation The price of USDC (fork) is expected to continue declining, as it is not backed by any assets.

In addition, our current ETH collateral is tied up in a loan that carries liquidation risks in the event of significant ETH price fluctuations. Closing this loan will eliminate these risks and free up ETH for future proposals.

Details

USDC (fork) Details:

Current valuation: $118,172.78 Loan Details:

ETH collateral valuation: $835,439.29 Loan amounts: 306,540.506 USDC 251,428.2889 USDT Total loan value: $557,968.79 Health rate: 1.21 Remaining ETH after loan closure: $277,456 Action Steps:

Close the loan using ETH collateral. Sell USDC (fork) for PLS. Transfer PLS to Mexc. Sell PLS for ETH. Transfer ETH to the DAO treasury wallet. Estimated Outcome:

After executing these steps, the total ETH in the DAO treasury is expected to be $395,628.78. Note: Final figures may vary depending on market prices for ETH and USDC (fork) at the time of execution. Conclusion This proposal is straightforward and quick to implement. Closing the loan and exchanging USDC (fork) for ETH will reduce risks and free up assets for future proposals.