Treasury subDAO mUSD Loan Request - Motion

Summary

On Wednesday, 16 November 2021, mUSD was listed on Coinbase Pro without notifying the core contributor group of this happening.

Post listing, Coinbase reached out to the core contributor group to question why there was 0 liquidity on mUSD on Coinbase.

Coinbase's Rishi Prasad gave the core contributor group until today (Wednesday, 17 November 2021) or latest tomorrow (Thursday, 18 November 2021) to provide 1-10m in liquidity for the asset, actively managed through market makers.

Failure to provide liquidity by this time will result in mUSD's delisting.

Motion

mStable Grant recipient Barnem Ltd is facilitating the market making of mUSD through firms connected to them by Coinbase (including GSR, kBit and Wintermute).

Given the importance of this listing to mStable's growth, Barnem is requesting a zero interest $1,000,000 mUSD loan for a period of 3 months to then loan to the market maker to create liquidity on mUSD on Coinbase. Barnem is requesting that these funds come from the Funding subDAO as these funds have already been approved by Meta Governors.

Please note the urgency of this request given Coinbase's deadline of this coming Wednesday or latest Thursday.

Should the TreasuryDAO Funding subDAO disburse 1,000,000 mUSD as a zero-interest loan to Barnem for 3 months as requested above?