Move 250 ETH (about 50k USD) into 50% USDC and 50% tokensets (ETH/USD) to act as a hedge against current market sentiments and to guarantee 6-9 months of MetaCartel budget.
- 50k USD for 6-9 months for MetaCartel’s activities
- USDC for bearish view on $ETH / hedge on current price
- Token sets for continued exposure to ETH
$ETH price fairly stable right now, future market conditions volatile. Want to take advantage of this while we can at the moment to weather proof 6-9 months of MetaCartel’s activities.
No warren buffet here but:
- $ETH price rises:
- then we have funds to deploy & most of our treasury rises regardless.
- $ETH price goes down:
- We are safe with a budget to work with for the next 6-9 months to explore next steps (if markets continuously crash or for crypto to recover)
What we will use to manage these funds?
- Multi-sig/aragon DAO to manage funds amongst trusted MetaCartel DAO individuals
- Matching funds based on DAO Shares proposals? (this eliminates any extra additional governance from this process)
Will be putting proposals on-chain ASAP and to discuss this at further length at the next week’s meeting. Making a call here to value time vs. process - market won’t last.
At the least, if folks don’t agree - we can vote ‘No’ on the proposal and move on with our day.
Note to self: Should of have had DAO Shares ready to be RQ’d the moment market timing was right
Will run this movement of funds in two separate DAO proposals
2 x proposals (223 DAO Shares @ 0.56 Share price = 125 ETH ~)