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Decentraland DAO Treasury Diversification ( Phase B )

RejectedGovernance

Proposal Details

Author0xd6c9…8878
PublishedDec 18, 2024 17:14
Voting beginsDec 18, 2024 17:14
Voting endsJan 01, 2025 17:14
Snapshot#0d9bfec

Description

This proposal recommends diversifying the Decentraland DAO treasury by accumulating stablecoins during the current bull market. Given the treasury’s holdings of **80,000,000 MANA** and a monthly vesting of 1,850,000 MANA, the plan proposes converting **3,700,000 MANA** (equivalent to two months' vesting) into stablecoins over the next two to three months. This strategy aims to strengthen the DAO's financial foundation, ensuring liquidity for future grants and mitigating risks associated with market volatility, particularly avoiding the need to sell MANA when liquidity is low. At current market prices, this approach could generate **$2 to $3 million .** The incremental execution minimizes the impact on MANA’s price and offers flexibility for the upcoming council to adjust, continue, or pause the plan as needed.

Voting Rationale

0x63F5…6Fc4Yes475,970

I support diversifying and stabilizing the treasury, simplifying dollar based actions when needed, the cautious timeline for the conversion.

4 Comments

daoJan 01, 2025

Decentraland DAO Treasury Diversification ( Phase B ) This proposal is now in status: REJECTED. Voting Results: * Yes 97% 2,605,785 VP (51 votes) * No 1% 7,885 VP (11 votes) * Abstain 2% 53,852 VP (3 votes)

CarlFravelDec 30, 2024

I support diversifying and stabilizing the treasury, simplifying dollar based actions when needed, and I like the cautious timeline for the conversion.

OzymandiasDec 19, 2024

See [Decentraland USD (MANA-USD) Stock Historical Prices & Data - Yahoo Finance](https://finance.yahoo.com/quote/MANA-USD/history/?frequency=1mo&period1=1510185600&period2=1734087854). January 2021, overall “liquidity” in MANA trade went above 1 billion per month. It’s been **over 1 billion per month** since ! And this is only with the MANA-USD pair. The 80 million MANA in the treasury is a **drop in the ocean** compared to this. Whether things are bull *or* bear ! Worrying about any kind of "market impact" from the DAO selling a fraction of its treasury is _truly preposterous_.

OzymandiasDec 19, 2024

> **A currency tied to gold is generally more stable than fiat money because of the limited supply of gold.** https://www.investopedia.com/terms/f/fiatmoney.asp