[GIP-203] Partial diversification of treasury
AI summary
This proposal suggests rebalancing a portion of the Gearbox DAO's treasury by converting some of its accrued fees, specifically 100 Wrapped Ether (WETH) and some Wrapped Bitcoin (WBTC), as well as various stablecoins like DAI, crvUSD, and USDT, into USDC (a stablecoin pegged to the US dollar). The goal is to create a stable funding source for operational expenses and compensation, simplifying future payments. This rebalancing does not affect the DAO's main Reserve Fund assets.
If this proposal passes, the DAO will have a more stable treasury component in USDC, making it easier to cover operational costs and compensation without needing frequent rebalancing proposals. This benefits the DAO's operational efficiency. The specific dollar amount of the rebalancing depends on the market price of WETH and WBTC at the time of conversion, but it involves approximately 100 WETH and other smaller stablecoin amounts totaling around $150,000.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Author: nikitakle
Summary This proposal suggests partially rebalancing the DAO treasury by selling a portion of its WETH accrued fees to USDC, as well as rebalancing some stablecoin dust inside multisigs to USDC as it simplifies any outgoing payments. The addresses in question are:
- https://etherscan.io/address/0x3E965117A51186e41c2BB58b729A1e518A715e5F
- https://etherscan.io/address/0x7b065Fcb0760dF0CEA8CFd144e08554F3CeA73D1 This proposal does not infringe on the Reserve Fund assets though, those don’t need to be touched at the moment, they are still under GIP-124. You can see t…