Proposal 46 - Purchasing ETH, BTC and BNB with assets of DAO treasury

Currently, there are $7.9M assets in the DAO treasury. Among them, $1.9M is USDC and the other are LP tokens of MCDEX BUSD Pool and USDC pool. I’m proposing to purchase some mainstream assets with the stable coin.

Rationale

As a blockchain project, we are bullish on crypto as a whole in the long term. Currently in the DAO treasury, we only own stable coin USDC. We need to diversify the crypto assets in the treasury with some mainstream assets to gain some price exposure to the growth of crypto.

Meanwhile, the DAO treasury has provided liquidity of $6M in the AMM pool and in the long run, AMM is holding short positions of BTC and ETH. It’s a way of hedging for the DAO to hold some BTC and ETH.

Details

Purchasing $600k ETH, $600k WBTC, $600k BNB in 5 days after the proposal is passed

Admin Update:

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