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The Science DaoThe Science Daoby0x267B082CD92D2c412205199AB34D957EBF99E3f90x267B…E3f9

$Theory Liquidity Migration

Voting ended almost 3 years agoSucceeded

I propose that we migrate $Theory liquidity from USDC to ETH. USDC has recently de-pegged due to volatility caused when Circle, the firm behind USDC, revealed they had a large portion of their liquidity located in Silicon Valley Bank which recently collapsed. $Theory liquidity is currently pegged to USDC which is causing volatility in the $Theory token price. There is the possibility of a bank-run on Circle due to the news on USDC which could further de-peg USDC from the Dollar. The DAO can vote to migrate liquidity back to USDC if they resolve their issues. This action may prove to be unnecessary based on revelation of full scope of issues of USDC, but it may prove to be necessary. The full extent of the potential impact is unknown, but protecting the $Theory token should remain the DAO’s primary goal.

Off-Chain Vote

Yes
8.73M THRY73.8%
No
3.1M THRY26.2%
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Timeline

Mar 12, 2023Proposal created
Mar 12, 2023Proposal vote started
Mar 13, 2023Proposal vote ended
Oct 26, 2023Proposal updated