STG OTC Request Discussion

The Stargate Foundation has been approached by an individual representing he works with a family office that is looking to acquire $2,000,000 of STG at market price from the Stargate DAO. As this is the first time this has happened, the issue is being brought forward to the Stargate DAO.

Should the Stargate DAO complete this transaction, selling $2,000,000 worth of STG (priced as a three day time weighted average price (Twap) of the STG price) for USDC. This USDC would then be used to purchase ETH that is locked into Stargate POL and supports Stargate liquidity on Ethereum. Assuming a target APY of 5%, this would reduce STG emissions by $100,000 per year and strengthen Stargate’s permanent liquidity.

It is important to surface any proposals like this to the community to allow the Stargate DAO to make the determination around what to do with them and how to address the request.

Please note: although The Stargate Foundation brought this post to the forums, I am a community member posting it to Snapshot to move this issue forwards. I am not part of The Stargate Foundation.