RE: DAO Proposal: Swap DAO BUSD and USDC/T For DEC
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If the proposal had said SPS, I would have considered it far more heavily. I really hope some big whales in here really think hard about the quick gain verses long term security. If we just stay patient we are looking at achieving something quite remarkable. We are little more than a few K close to triggering peg in a bear market without the need to really push for it even under such terrible world market conditions and a depleted playerbase post bull market. The event was a success, the expected drawback has come, but we are on the cusp of 1.5 land and staking and my goodness watch the flywheel take off without the need to throw the Dao's weight at it. At any moment someone could snap up remaining DEC and push us to peg...And once land 1.5 staking drops, there are going to be players everywhere looking to purchase DEC. And then the hype of SPS climbing as people start burning for DEC. This is as solid a no I've ever given and I'm a regular no guy.
Exactly my thoughts. Wait for the roadmap to deliver, assess, then think about making further tweaks or proposals like this.
I am so glad you are able to articulate these facts clearly.
I just hope the rest of the community can come around to our ideas. I've tried to convince as many people as possible in replies in this post's comments.
We should just get on allocating a portion to invest in many types of assets for the sole purpose of creating value and roi for unit holders either though the ability to buy spl assets at rockbottom [prices like cards and rent them out over time for roi, buy up cheap nodes for sps and glx and get a top validator postion to get those excess returns for the dao benefiting more players and members can possibly join in the daos hosting to ensure the top validator returns get allocated to the dao and anyone adding there nodes which will give excess roi to more ppl. The dao could also buy up a land track and get in on that as well as go in on outside lps like btc and eth to generate roi from that aswell as alot of high yield stable coins to generate more predictible postions. Possible look at offering staking as a service and running a hive wittness bc it can get likely all of the ppl who own the dao to vote and no other wittness node provides distributions. Maybe run a few wittness nodes based on how many votes ppl get bcif we could run 10 that would increase the income 10X not sure if that would work but if it does why not as no nodes benefit us now so whynot use are votes for nodes that actually pay dividends to us
These might be viable options but that is not what this proposal speaks of. At least not what I can see in OP. No one here disagrees with the need to diversify and everyone is aware of the current risk of continually holding stable coins given the current assault on crypto by 'The powers that be' but the risk of throwing the Dao's stable coins for DEC is too great and the exploitation too easy. Why would anyone here with who identifies their contribution to SPL as a significant investment from them risk part of their future insurance policy in this game on a quick gain that will only invite bad actors to participate is beyond me. I would prefer the notion of using stablecoins to buy limited availability assets like tracts, SPS, cards or nodes etc as you mention. But that's off topic with the proposal here.