PIP-76 Expand Excess Stablecoin usage to purchase ETH
Abstract
PIP-20 allowed the JPEG’d DAO to spend 15m of excess stablecoin to purchase ETH. This proposal suggests to use another $5m of stablecoins (USDC or USDT) to buy more ETH.
Background
JPEG’d DAO is run very lean and has relatively low overhead compared to it’s excess stablecoin balances. With $9m stables and a profitable business the runway for the DAO is many years. The DAO has used up the 15m balance authorized in PIP-20 to buy ETH. We believe we could add another $5m of of the excess stablecoins to purchase ETH. Like for PIP-20, the purchase time and total amount would be up to the discretion of the multisig.
Specification
Allow the spending of ETH using $5M of the excess stablecoin to buy ETH. The purchase time and total amount would be up to the discretion of the multisig.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x1Ddb...1253Bc | 908.93M | Yes, expand stablecoin usage |
 0x88a6...1E7FC3 | 563.535M | Yes, expand stablecoin usage |
 0xE470...dAC46D | 483.928M | Yes, expand stablecoin usage |
 0x6800...1cF4e0 | 320.936M | Yes, expand stablecoin usage |
 0xd3Ae...c661c0 | 250.397M | Yes, expand stablecoin usage |
VOTE POWER
Proposal Status
- Mon October 02 2023, 11:49 amVoting Period Starts
- Thu October 05 2023, 11:49 amEnd Voting Period
Current Results
1-Yes, expand stablecoin usage
2.755B