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RE: Convert BUSD DAO holdings into DEC-DAI LP

in #spsproposallast year (edited)

Is the DEC-BUSD pool actually requiring more liquidity based on pool volumes? I'm thinking that if there is already sufficient liquidity, maybe it might be better to just withdraw from the DEC-BUSD pool exit the BUSD position asap, but instead of rushing to refill the next closest pool, maybe let the DAO sell the BUSD for DEC or SPS and hang on to the assets until it has a better sense of where they are needed?

(edited to correct a mistake)

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Maybe this leads to some confusion, the DAO currently don't hold any DEC-BUSD pool position. As i mention in an other comment.

This proposal has no impact on the DEC pair on BSC. This proposal aims to use the current BUSD holdings in the DAO. Current this assets are just held in the DAO wallet.

Regarding to use it and just SWAP for DEC or SPS, the community sentiment on this in my experience with talking with some other members, is really split. Some don't really want to hold 100% DEC, some say we have already allocation to SPS, why should we buy more, so just to prep up the price. No matter if i agree or not.

My answer to it is: „its a compromise“ this way bouth groups should be happy some DEC is bought and also the stable value of a stablecoin is held. The important goal is achieved. -> Get rid of BUSD.

Sorry yeah I made a mistake and kept typing DEC-BUSD everywhere :)

I think if the objective is simply getting rid of BUSD, that's probably the easier decision to pass if it's not grouped with adding a different coin exposure. SPS seems the least controversial - we know the DAO will always need SPS for players etc, so simply withdrawing the BUSD assets and selling/swapping them to SPS would probably meet the least resistance. Increasing exposure to other coins in the DAO portfolio is probably where people are feeling the uncertainty. I'm supportive of getting rid of a questionable token, although I'm not sure where I land on this as a whole.

You've given me more to think about.