MatrixDAO Proposal #1 - Reallocating Treasury Assets
Summary
MatrixDAO needs to diversify treasury holdings to prevent undesirable volatility and to fund operations in stablecoin.
Plan
Gnosis Treasury Link https://gnosis-safe.io/app/eth:matrixdaoresearch.eth
Current treasury balance = 328 ETH Current ETH price = $1150 as of June 24 2022
- Convert 60% ETH (196.8 ETH) to USDC to fund operations = ~ 226,320 USDC
- Convert 20% ETH (65.6 ETH) to stETH, which is now trading at a 5.6% discount to spot ETH (4% APR, ~2.72 ETH yearly)
- Keep the remaining 20% (65.6 ETH) in ETH
- Execution of transactions will be handled by the multi-sigs after the proposal is approved
Off-Chain Vote
Timeline
Jun 24, 2022Proposal created
Jun 24, 2022Proposal vote started
Jun 30, 2022Proposal vote ended
Oct 26, 2023Proposal updated