Convert Remaining ETH into a stablecoin
Convert remaining ETH into a stablecoin
Author: Commodore
ELI5 (Explain it Like I’m 5) Project Value-Add
This proposal is to convert 100% of the remaining ETH into stablecoins to support the typical expenditures of the DAO and to reduce a risk in a significant price drop impacting our efforts over the next few quarters.
Details
In December 2021, we voted on & executed a proposal that diversified treasury ETH into USDC. The treasury currently holds 155.19217 ETH, although we tend to transact in stablecoins throughout the DAO.
The kTx Team would execute the proposal at an approximate time as recommended by Steward Magnus. Generally speaking, we’d be targeting the current price range that ETH has been trading at over the past few months (~$1,900).
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x1983...4A5E7E | 124,981 | 50% for For, 50% for Abstain |
 0xf51c...FaFAEB | 2,300 | 100% for For |
 0x97f7...0beE54 | 1,650 | 100% for For |
 0x7d8D...f97e8F | 150 | 100% for For |
 0xFb6d...4e3281 | 100 | 100% for Against |
VOTE POWER
Proposal Status
- Fri August 04 2023, 06:32 pmVoting Period Starts
- Mon August 07 2023, 06:32 pmEnd Voting Period
Current Results
1-For
66,690.794
2-Abstain
62,490.625
3-Against
100