Convert 50% of the Community Treasury to USDC Stablecoin

Main concept: Convert 50% of the Community Treasury to USDC stablecoin over the next month.

Temperature check: Link your Temperature Check Thread 1

Current status: Idea

Budget: Currently 218.1649 ETH in treasury, propose 100 ETH to be converted to USDC.

Schedule: 33.3 ETH to be converted within 3 days of passing vote, 33.3 ETH to be converted between August 29-Sept 3rd, 33.3 ETH to be converted before the Merge (Mid-September). After each executed trade, the community will be informed.

Risk: We sell ETH at the wrong time. Mitigation: Sell ETH in thirds from now til up to the Merge to get a better averaged entry. Stablecoin depegs. Mitigation: Use USDC which is backed 1:1 by USD. ETH keeps mooning. Mitigation: We still have 50% in ETH to have exposure to any upside.

Value: Our community treasury worth will not be as volatile and we can lock in a portion of our gains. We are taking advantage of the recent gains by ETH leading up to the Merge. We shouldn’t have all our assets in something so volatile. Even if ETH crashes our treasury will have enough in stablecoin to fund future development for many months/years.

Team: Trade will be executed by Capsule House team and have final say on when to execute trades.

Quorum: a 15% quorum must be reached for this proposal to be passed (1500+ capsules must vote)