MIP-11 Stablecoin Deployment Anchor Protocol

Voting ended about 4 years agoSucceeded

Summary This proposal aims to deploy part (up to 10,000,000 $) of the idle stablecoin balance of the Merit Circle DAO treasury into Anchor Protocol, a Dapp on Terra blockchain. The treasury still has 53 Million USD sitting idle on the balance sheet. Anchor protocol offers an outlet to make USD stablecoins, in the form of UST, productive. Anchor Protocol currently offers a 19,5% yield fixed rate on deposits, while maintaining a lot of withdrawing and depositing flexibility. Deploying will diversify the stablecoin balance of the DAO and will increase the yield that the treasury assets will generate.

Read full proposal and discussion here: https://gov.meritcircle.io/t/mip-11-deploy-idle-stablecoin-balance-into-anchor-protocol/361

Should the Merit Circle DAO deploy 10M USD from the treasury assets into Anchor protocol?

Off-Chain Vote

Yes

6.68M 99.4%

38.16K 0.6%

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Timeline

Mar 02, 2022Proposal created

Mar 02, 2022Proposal vote started

Mar 04, 2022Proposal vote ended

Oct 26, 2023Proposal updated