NounsDAO Prop 347 - Lowering the USDC amount held by the Payer contract from the current 500,000 USDC to 200,000 USDC
Lowering the USDC amount held by the Payer contract from the current 500,000 USDC to 200,000 USDC
With the first version of the upcoming upgrade the treasury assets are currently held by the TokenBuyer (0x4f2aCdc74f6941390d9b1804faBc3E780388cfe5) and the Payer (0xd97bcd9f47cee35c0a9ec1dc40c1269afc9e8e1d) contracts are not included in the forking calculation so members who decide to fork wouldn’t receive their fair split.
In order for a fair forking mechanism I propose to reduce the USDC amount held by the Payer contract from the current 500,000 USDC to 200,000 USDC.
At the moment the TokenBuyer contract has a balance of 114.73 ETH, approximately 213K USD which means there is some buffer left still at the current price of ETH after the swap of ETH for 200,000 USDC.
The proposal contains 2 actions:
- lowering the baseline USDC amount from the current 500,000 USDC to 200,000 USDC
- withdrawal of the current USDC balance of the Payer contract to the Nouns treasury address
I believe that this is a fair and good compromise and won’t affect the smooth operation of the DAO in the possible short time while implemented.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x7d76...95dC17 | 28.935M | FOR - SharkDAO vote FOR |
 0x021e...F3F4e4 | 17.196M | AGAINST - SharkDAO vote AGAINST |
 0xBd7D...86204A | 14.667M | AGAINST - SharkDAO vote AGAINST |
 0xE3f2...75967D | 3.133M | AGAINST - SharkDAO vote AGAINST |
 0x9efE...3891f5 | 393,125 | AGAINST - SharkDAO vote AGAINST |
VOTE POWER
Proposal Status
- Wed July 26 2023, 10:41 pmVoting Period Starts
- Thu August 03 2023, 10:41 pmEnd Voting Period
Current Results
1-AGAINST - SharkDAO vote AGAINST
35.713M
2-FOR - SharkDAO vote FOR
28.947M