ingestion: archive futardio proposal — 2024-10-30-futardio-proposal-swap-150000-into-isc.md

inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md

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+---
+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.
+
+### 📊 Impact Analysis  
+#### 👥 Stakeholder Impact  
+This move aims to protect MetaDAO's treasury value while potentially benefiting other DAOs through the promotion of innovative governance structures.
+
+#### 📈 Upside Potential  
+Holding ISC may help maintain the value of MetaDAO's treasury over time due to its inflation-resistant design.
+
+#### 📉 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