SPS Governance Proposal - Periodic BNB Sales
Due to the time sensitive nature of this proposal, it's been approved to be expedited by the SPS DAO Foundation board.
About
The purpose of this proposal is to allow the SPS DAO to begin programmatically selling it's liquid BNB holdings to accumulate stable coins and prepare itself to capitalize on some of the current price appreciation of BNB over the recent (and potential upcoming) months.
You can view the SPS DAO's holding on the Binance Smart Chain here. Currently the value of the DAO's liquid BNB tokens has risen over $70,000 since July and could continue to appreciate in the event that the bullish market sentiment continues to grow. Capturing that value could be beneficial for the DAO's long-term sustainability.
Please note, the SPS DAO also currently holds 367 BNB in our largest liquidity pool and this proposal will not touch those funds. It would only approve the sell of idle liquid assets for stable coins.
Proposal
If this proposal passes, the SPS DAO will convert 10 BNB into USDT every week for 12 weeks.
DCA good - Derisking, also good :)
Very smart move that I support 100%! Let's prepare for the winter with stables
Definitely!
Yes! Nothing more to add. :)
Sounds like a good idea, I don't follow the price of BNB but I trust your judgement.
Great idea... I've also been taking some BNB profits =)
Scared of USDT
The treasurers already have the authority to swap stables for like-kind. Just make your case and the treasurers could choose USDC or DAI or whatever instead.
Will the USDT Be staked anywhere or invested anywhere to earn a dividend or interest on it?
I suppose that's up to the DAO. Could be good to share your ideas and see what people would support!