Convert AXS to RON Reward Strategy

Proposal Type: Resource

Creator: YuurinBee Relic Type: Archmage

Overview: To diversify the portfolio and reduce potential investment risk of staking and compounding AXS alone, the DAO can sell the monthly rewards of AXS and convert them into RON, which will be used to stake at approximately 25%+ APR. This strategy allows for the diversification of DAO assets and compounding rewards by staking the Ronin Native Blockchain Token (RON) by Axie Infinity/Sky Mavis.

Additional Details: As mentioned above for those not aware, RON is the native token of Sky Mavis/Axie Infinity's blockchain. Sky Mavis is making efforts to create the next scalable solution for Blockchain Gaming, using their own game Axie Infinity at the core. I will avoid getting into too much speculation and price speculation with this proposal and just focus more on this being a diversification strategy for DAO and supporting another gaming blockchain's core protocol by staking its native token. For more information, please join the Discord and view the latest DAO Discussion labeled "Convert AXS to RON Reward Strategy".

At the end of each month, the DAO will sell the AXS rewards that have been accumulated and sell them for RON via Katana - Official DEX (https://katana.roninchain.com/#/swap) and immediately afterwards, delegate them for staking via the official website (https://app.roninchain.com/staking). Tracking of both AXS and RON can be done via the official MetaBrands DAO Treasury Portfolio on Nansen.

Strategies & Options:

Convert Monthly AXS for RON (Accept Proposal) No Action (Reject Proposal) Timeline: Effective Immediately. Starts at the end of the month in which the proposal is passed.

Investment Scope: a. Monthly AXS Rewards (Sold at Market Price) b. Acquire & Stake RON

Receiver: MetaBrands Ronin Wallet

Final Notes: If this proposal passes, the acquiring of RON through the selling of monthly AXS rewards will be in the same wallet that is staking AXS (Ronin Wallet). Available for tracking on the official MetaBrands DAO Treasury Portfolio on Nansen (https://portfolio.nansen.ai/dashboard/APE-4G7NY8).

Executor: YuurinBee

Bounty/Payment: 50,000 MAGE (One Time Payment)