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RuGenerous DAORuGenerous DAOby0xCcF932cd565C21D2e516C8fF3a4f244eEa27e09a0xCcF9…e09a

RIP #18.1 Utilization of Treasury Funds

Voting ended about 4 years agoSucceeded

Since the supply of RUG has been capped at 420,069, the token's treasury has become unnecessary for backing the token's rebases. The balance of the treasury (0x9e0ee5e4c93e300ff024518d090f98c719504560) at time of writing is 3.1 million in stablecoins, 2.7 million more than is required to back each RUG token by $1 USD. I propose a large portion of this fund be withdrawn into the RUG DAO multisig wallet, staked into the AAVE 3crv pool on https://avax.curve.fi/aave and then staked in gauge to earn wAVAX and CRV OR placed into an auto-compounding vault.

RUG is using CRV's tricrypto pool to gain BTC and ETH exposure (a 200k deposit is earning approximately $3500 each month). Tricrypto LP tokens are currently being staked in RUG Deployer's wallet. (https://avax.curve.fi/pools?see=0x304a97c9a85c92c93ca24e0a85b69f892b67355e) For consistency, the tricrypto pool tokens should also move into the RUG DAO multisig wallet.

If this proposal is voted Yes, further proposals will be created to decide the size of the CRV deposit and the method of staking the aave3CRV tokens.

Off-Chain Vote

Yes
6.23K 100%
No
2.18 0%
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Timeline

Feb 02, 2022Proposal created
Feb 02, 2022Proposal vote started
Feb 05, 2022Proposal vote ended
Oct 26, 2023Proposal updated