---
type: decision
entity_type: decision_market
name: "MetaDAO: Swap $150,000 into ISC?"
domain: internet-finance
status: failed
parent_entity: "[[metadao]]"
platform: "futardio"
proposer: "@Richard_ISC"
proposal_url: "https://v1.metadao.fi/metadao/trade/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ"
proposal_date: 2024-10-30
resolution_date: 2024-11-03
category: "treasury"
summary: "Proposal to convert $150,000 USDC (6.8% of treasury) into ISC stablecoin to hedge against dollar devaluation"
tracked_by: rio
created: 2026-03-11
---

# MetaDAO: Swap $150,000 into ISC?

## Summary
MetaDAO proposed converting $150,000 USDC (approximately 6.8% of its $2.2M treasury) into ISC, a Solana-native inflation-resistant stablecoin. The proposal argued that holding USD exposes the DAO to devaluation risk (17.8% loss since 2020) and that ISC's basket-collateralized design (20% each: cash, commodities, treasuries, bonds, equities) provides better value preservation. The proposal failed.

## Market Data
- **Outcome:** Failed
- **Proposer:** @Richard_ISC (ISC team member)
- **Treasury Context:** MetaDAO held ~$2.2M USDC at proposal time
- **Proposed Allocation:** 6.8% of treasury
- **Execution Plan:** DCA order on Jupiter (10 orders over 10 hours, $15K each, price range $1.70-$1.90)

## Significance
This proposal represents an early test case for DAO treasury diversification into alternative stablecoins through futarchy governance. The failure suggests either:
1. Market skepticism about ISC's value proposition relative to USDC
2. Risk aversion to allocating treasury to a smaller, newer stablecoin
3. Concerns about the proposer's conflict of interest (ISC team member)

The proposal included a reciprocal governance commitment: ISC would use MetaDAO futarchy for its own governance decisions (removing freeze authority, basket composition changes), positioning this as a potential partnership rather than pure treasury management.

## Relationship to KB
- [[metadao]] - treasury management decision
- [[MetaDAOs futarchy implementation shows limited trading volume in uncontested decisions]] - relevant to understanding market participation patterns

## Full Proposal Text

*Source: futard.io, tabled 2024-10-30*

**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