[AGIP 103] Strategic Treasury Diversification into Ethereum with $3M ETH Purchase
AI summary
This proposal, AGIP 103, suggests that the Aavegotchi DAO diversify its treasury by using $3 million of its DAI stablecoin holdings to purchase Ethereum (ETH). The purchase would be made in six weekly installments of $500,000 DAI each, using a platform called Cowswap. This move aims to reduce the DAO's reliance on stablecoins and its native token, GHST, while adding a high-potential asset to its portfolio.
If passed, the Aavegotchi DAO's treasury will shift from holding 31% DAI to 21% DAI, and will gain a 10% allocation in ETH, valued at $3 million. This benefits the DAO by potentially increasing the overall value of its treasury through ETH's growth, but also introduces market volatility risk. The funds will be moved from the DAO Foundation Treasury Wallet by the DAO Director Multisig Safe.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Author: Dr. Wagmi (16635) Quorum Requirement: 20% (9M) Vote Duration: 14 Days
Reference Material: (Aavegotchi DAO Treasury Report) https://docs.google.com/document/d/1u-hODswpYcLSJhCh4y6SNoR-17rClwenenmU71Ag9Og/edit#heading=h.2gazcsgmxkub
Proposal Summary: The proposal recommends the Aavegotchi DAO to diversify its treasury by purchasing 3,000,000 DAI worth of ETH. This acquisition would be executed through Cowswap on the Ethereum blockchain, divided into six weekly tranches of 500,000 DAI each. Funds will come from the DAO Foundation Treasury Wallet which stems from the 25% treasury alloca…