We have been DCA'ing into PEN since CIP027 passed, but those funds run out in 4 days. This proposal would authorize another $25,000 from our stablecoin LP for continued DCA.
To put it in perspective, we own about 20% of the entire Penrose governance right now. This has allowed us to shunt a massive amount of rewards to our USD+/CLAM pair on Penrose, equal to about $500,000 per year at current prices and rates. This is from a $25,000 DCA and locking any PEN rewards we receive.
With CIP034's tokenomics, we will now be selling 70% of our PEN rewards instead of reinvesting all of it, so a DCA seems prudent here.
Off-Chain Vote
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- Author
0x4122…664E
- IPFS#bafkreib
- Voting Systembasic
- Start DateJul 18, 2022
- End DateJul 19, 2022
- Total Votes Cast33.83K vCLAM
- Total Voters6
Timeline
- Jul 18, 2022Proposal created
- Jul 18, 2022Proposal vote started
- Jul 19, 2022Proposal vote ended
- Oct 26, 2023Proposal updated