Next Steps on the DAO's ETH --> wBTC trade
Background
Following a passed governance proposal ~3 months ago (https://snapshot.org/#/decentralgames.eth/proposal/0x2560674a61be1cb7b297cd259d5022287db184817822120e061710ee5c949506), 400 ETH was swapped into wBTC at a ratio of ~0.055 ETH/BTC. At the time of writing, this 22.29 wBTC is worth ~440 ETH.
Proposal
If and only if ETH/BTC < 0.05, give the team discretion to start coverting wBTC back into ETH. Moreover, this ETH would be staked for stETH.
Rationale
It’s a win for the DG DAO to lock gains if they begin to become material (this proposal sets the bar at ~ >= 10% on the trade); otherwise, there’s some value to being diversified across ETH and BTC if ETH/BTC remains in range or even increases beyond where we initially made the conversion.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xA170...B83867 | 5.885M | YES |
 0x89a1...6e99a9 | 328,449 | YES |
 0x153B...E1364D | 246,668 | YES |
 0x1E84...52295b | 138,601 | NO |
 0x9F70...EF7dB9 | 126,741 | YES |
VOTE POWER
Proposal Status
- Sun January 07 2024, 05:25 pmVoting Period Starts
- Sun January 14 2024, 05:25 pmEnd Voting Period
Current Results
1-YES
6.767M
2-NO
139,931.269