diff --git a/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md b/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md new file mode 100644 index 00000000..fe3b3b31 --- /dev/null +++ b/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md @@ -0,0 +1,94 @@ +--- +type: source +title: "Futardio: Swap $150,000 into ISC?" +author: "futard.io" +url: "https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ" +date: 2024-10-30 +domain: internet-finance +format: data +status: unprocessed +tags: [futardio, metadao, futarchy, solana, governance] +event_type: proposal +--- + +## Proposal Details +- Project: MetaDAO +- Proposal: Swap $150,000 into ISC? +- Status: Failed +- Created: 2024-10-30 +- URL: https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ +- Description: If executed, this proposal would convert $150,000 of MetaDAO's treasury into $ISC, a Solana-native stablecoin +- Categories: {'category': 'Treasury'} +- Discussion: https://discord.gg/V4TSWuCc3X + +## Summary + +### 🎯 Key Points +MetaDAO proposes to swap $150,000 USDC (approximately 6.8% of its treasury) for ISC to hedge against dollar devaluation and encourage other DAOs to adopt similar treasury strategies. + +### πŸ“Š Impact Analysis +#### πŸ‘₯ Stakeholder Impact +This move aims to protect MetaDAO's treasury value while potentially benefiting other DAOs through the promotion of innovative governance structures. + +#### πŸ“ˆ Upside Potential +Holding ISC may help maintain the value of MetaDAO's treasury over time due to its inflation-resistant design. + +#### πŸ“‰ Risk Factors +The proposal carries risks such as the potential for ISC to lose value against the USD, given its nascent stage and smaller market presence compared to USDC. + +## Content + +**Type** +Operations Direct Action + +**Author(s)** +@Richard_ISC + +**Overview** + +MetaDAO has approximately \$2.2M in USDC in its treasury. + +This poses a risk to the DAO given that the US Dollar has been losing value at an increasing rate. The dollar has lost 17.8% of its value since 2020. Due to the debt situation, we don’t expect this to be resolved soon, if ever. + +\$ISC was built specifically to solve this issue. ISC is an inflation-resistant stable currency built on Solana. It was launched at the Solana Hacker House in HCMC on 2023-03-17 at a price of \$1.545. It is now trading at \$1.81. + +Not pegged to USD, ISC is collateralized by a basket of financial assets. This basket consists of 20% cash, 20% commodities, 20% treasuries, 20% bonds, and 20% equities. + +If the proposal passes, MetaDAO will swap 150,000 USDC of its treasury (~6.8%) for ISC. + +Details: + +MetaDAO would execute a DCA order on jup.ag using the following parameters: + + +Amount: 150,000 USDC +To buy: ISC +Every: 1 hours +Over: 10 orders +Min price: 1.7 +Max Price: 1.9 + +The ISC team would encourage other DAOs to use MetaDAO Futarchy for similar treasury swap proposals. This could easily turn into a win-win-win. + +Once the ISC DAO is set up, ISC would commit to use MetaDAO for part of its governance. Example proposals that we have in mind: +- Remove Freeze authority +- Changes in the basket + +Potential advantages: +- MetaDAO maintains its treasury value over time +- Promotes other new Solana-native projects +- Showcase a simple Futarchy proposal for other DAOs to follow + +Potential pitfalls: +- ISC is still small and early compared to USDC +- ISC could lose value to the USD + +## Raw Data + +- Proposal account: `Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ` +- Proposal number: 8 +- DAO account: `CNMZgxYsQpygk8CLN9Su1igwXX2kHtcawaNAGuBPv3G9` +- Proposer: `proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2` +- Autocrat version: 0.3 +- Completed: 2024-11-03 +- Ended: 2024-11-03