m3taversal
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Co-authored-by: m3taversal <m3taversal@gmail.com> Co-committed-by: m3taversal <m3taversal@gmail.com>
94 lines
3.4 KiB
Markdown
94 lines
3.4 KiB
Markdown
---
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type: source
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title: "Futardio: Swap $150,000 into ISC?"
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author: "futard.io"
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url: "https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ"
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date: 2024-10-30
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domain: internet-finance
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format: data
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status: unprocessed
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tags: [futardio, metadao, futarchy, solana, governance]
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event_type: proposal
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---
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## Proposal Details
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- Project: MetaDAO
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- Proposal: Swap $150,000 into ISC?
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- Status: Failed
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- Created: 2024-10-30
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- URL: https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ
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- Description: If executed, this proposal would convert $150,000 of MetaDAO's treasury into $ISC, a Solana-native stablecoin
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- Categories: {'category': 'Treasury'}
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- Discussion: https://discord.gg/V4TSWuCc3X
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## Summary
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### 🎯 Key Points
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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.
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### 📊 Impact Analysis
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#### 👥 Stakeholder Impact
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This move aims to protect MetaDAO's treasury value while potentially benefiting other DAOs through the promotion of innovative governance structures.
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#### 📈 Upside Potential
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Holding ISC may help maintain the value of MetaDAO's treasury over time due to its inflation-resistant design.
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#### 📉 Risk Factors
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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.
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## Content
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**Type**
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Operations Direct Action
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**Author(s)**
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@Richard_ISC
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**Overview**
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MetaDAO has approximately \$2.2M in USDC in its treasury.
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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.
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\$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.
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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.
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If the proposal passes, MetaDAO will swap 150,000 USDC of its treasury (~6.8%) for ISC.
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Details:
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MetaDAO would execute a DCA order on jup.ag using the following parameters:
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Amount: 150,000 USDC
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To buy: ISC
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Every: 1 hours
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Over: 10 orders
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Min price: 1.7
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Max Price: 1.9
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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.
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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:
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- Remove Freeze authority
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- Changes in the basket
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Potential advantages:
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- MetaDAO maintains its treasury value over time
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- Promotes other new Solana-native projects
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- Showcase a simple Futarchy proposal for other DAOs to follow
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Potential pitfalls:
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- ISC is still small and early compared to USDC
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- ISC could lose value to the USD
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## Raw Data
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- Proposal account: `Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ`
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- Proposal number: 8
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- DAO account: `CNMZgxYsQpygk8CLN9Su1igwXX2kHtcawaNAGuBPv3G9`
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- Proposer: `proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2`
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- Autocrat version: 0.3
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- Completed: 2024-11-03
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- Ended: 2024-11-03
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