WBTC Conversion

Overview

This proposal addresses Treasury management of the DAOs WBTC holdings and the process for converting that WBTC into USDC . Once converted the USDC will be held as stable reserves and to cover any further development of the DAO and potentially buy back in later post bull run .

Goals

From this we will have to pay taxes on capital gains. However we have made a significant return on the initial investment which will be taken off the table and secure project funding for the foreseeable future.

We can set price targets for what we want to sell at so that we dca out of the position of 1.5wbtc , which are :

Proposed targets

Sell 0.5 wbtc between 120000 - 125 000 Sell 0.5 wbtc between 125 000 - 130 000 Sell 0.5 wbtc between 130 000 - 135 000 Buy 0.5 wbtc between 70 000 - 90 000 should we reach any price targets as met above

FrankenDAO Benefits

This allows the team to act swiftly based on the BTC price and ensure that funds are managed efficiently based on the market and secure a large portion for the project future and reserves.

Manages the treasury funds well and makes sure the DAO has taken a prudent approach on gain which we have made to ensure the funds are stabled to extend the project runway. This will allow us to derisk on our position and secure healthy profits for the DAO going into the next cycle.

Timeline

Immediate transfer to DAO wallet. Sale will be upon price targets being met

Execution plan

Execute as and when the price targets are met as discussed above.

Budget and fund utilization

Sell 0.5 wbtc between 120000 - 125 000 Sell 0.5 wbtc between 125 000 - 130 000 Sell 0.5 wbtc between 130 000 - 135 000 Buy 0.5 wbtc between 70 000 - 90 000 should we reach any price targets as met above

What areas of the community does this touch?

General, FrankenDAO

Proposed transactions

Transaction #1 FrankenDAO sends 1.5 $WBTC to 0xb96B3d15FAA72b96f645f8E11732A4cC0E2592cA