Proposal to convert a percentage of Treasury ETH into USDC

Currently the Statera Treasury MultiSig Wallet contains 32 ETH, 0.6 BTC and 1.2M wSTA, but it does not hold any stablecoins.

There are inherent risks in only holding volatile assets - for example if the market goes down lower and stays down for any length of time, the project would sooner or later be forced to sell assets at a loss to cover any expenses.

Additionally if the project treasury maintains a certain amount of funds as stablecoins it allows the possibility to re-buy ETH at a much lower price should the opportunity arise which would be positive for the project in the mid - long term.

Of course it is impossible to predict which way the market will go, however the macro economic picture certainly points to further tightening of the economy by the FED in order to reel inflation back in again. This combined with other major macro factors is leading many analysts to predict more pain ahead before the situation improves.

Add to all this the fact that BTC has previously always corrected by up to 85% on previous cycles and has not done so yet this cycle, and this is the first cycle where the BTC bottom has coincided with a recession and with absolutely no money printing by the Central Banks - An 85% correction for BTC would mean a price of just above $10K which would also take ETH down to between $500 and $1k according to analysts.

Vote for the option you believe to be most convenient for the project.