[R] DOT #1501 - Renewal of treasury USDT and USDC Acquisition

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13zn...P5ju

Terminated 23hrs 45mins ago

terminated

Description

https://polkadot.subsquare.io/referenda/1501

A group called ChaosDAO, JUST Ventures, and Hydration proposed to get stable money (USDT and USDC) using Polkadot's treasury.
They want to change 5,001,000 DOT into equal parts of 2,500,000 DOT into USDT and USDC over a year.
This plan will help keep the value of the treasury steady and safe for future expenses.
They will sell small amounts of DOT regularly to avoid big price changes and make the process efficient.
They are using a special method called DCA (Dollar-Cost Averaging) to make the exchange smoother.
The proposal also aims to use some of the funds to earn interest while they are waiting to convert.
This plan involves sending funds to different places using a process called XCM.

Optionssingle

Votes·10

14gM...deVb

14gMJV95zwxUsFEZDSC8mtBVifS6SypKJkfBKANkMsLZdeVb

Aye

# 1

Aye because treasury needs more stable coins.

14Gn...YLEh

14Gn7SEmCgMX7Ukuppnw5TRjA7pao2HFpuJo39frB42tYLEh

Aye

# 1

This will generate more selling pressure on the DOT token, something I don't particularly like at these prices. But since it is something that is already accepted by the whole community, it is time to accept it.

1ZSP...vx6w

1ZSPR3zNg5Po3obkhXTPR95DepNBzBZ3CyomHXGHK9Uvx6w

Aye

# 1

Funding in stables has been a welcome change; let's continue

12s6...nE8h

12s6UMSSfE2bNxtYrJc6eeuZ7UxQnRpUzaAh1gPQrGNFnE8h

Aye

# 1

It was remarkable upgrade to treasury/OpenGov, once the stablecoins were enabled. Also, DCA purchase of stables is way more better idea. Aye to this one.

167Y...TY9F

167YoKNriVtP4Nxk9F9GRV7HTKu5VnxaRq1pKMANAnmmTY9F

Aye

# 1

treasury stablecoins to feed liquidity pools

12Hi...E9N3

12His7t3EJ38tjdBbivUzWQeaNCLKfMqtKp1Ed3xHMyCE9N3

Aye

# 1

Definitely need more stable coins as community sentiment has been steering towards proposals with clear cut budgets to ask for USDT/USDC instead of DOT, this would enable that funding.

1xzc...1bX6

1xzcLSwo7xBFkJYZiL4EHaqFpuPTkH641E3V43W4cuk1bX6

Aye

# 1

Yes, we need more stable coins.

13ED...KQbF

13EDmaUe89xXocPppFmuoAZaCsckaJy3deAyVyiykk1zKQbF

Aye

# 1

15fT...yBzL

15fTH34bbKGMUjF1bLmTqxPYgpg481imThwhWcQfCyktyBzL

Aye

# 1

Not very sure whether DOT is at its best value for DCA'd stable coin acquisition. But this proposal does it over a year, and the treasury needs stable coins. Aye.

12Kt...DCoJ

12KtA8mtfsK1CyQb4utLiwG3ao22z77w2cM2GqnaL2RiDCoJ

Abstain

# 3

I have not heard the final plans around DCA strategy yet (timing, amounts, etc). Given the current DOT price, it's not the ideal time to start this type of program so this should be done thoughtfully.