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https://opensea.io/collection/nouns
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gami.eth ⎈
@gami.eth
it's frustrating that the ethereum foundation sell eth to fund their operations, when instead, they could deposit eth into spark and borrow dai, later paying down the debt as eth's value increases. how hard would it be for nouns to do this? cc @el4d @davidbr ⌐◨-◨
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david
@davidbr
do you think there will be consensus for this? in the past the dao was actually suggesting selling ETH into USDC for the fear of ETH going down. borrowing dai against eth would be the opposite.
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gami.eth ⎈
@gami.eth
so long as liquidation price is low enough. borrowing at a low and safe ltv. def the kinda stuff we could model out in jupyter see if it’s worthwhile and consider risk. at /imf we can unlock borrow on almost any asset. including $nouns beyond a certain milestone so i’m currently in this head space with my cofounder @napenjoyoor who’s an og defi quant dev. along with our econ phd who’s also deep defi some of australia’s best builders have come together in sydney. been so exciting what you guys been cooking lately?
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david
@davidbr
Generally speaking I think doing treasury management as a DAO is not a great idea. Could maybe work if someone external was managing it, but not sure it’s worth it. A few potential upgrades coming up in the next few weeks. Stay tuned.
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Napenjoyoor
@napenjoyoor
FWIW you’d do it as open market operations Eg. 6m ETH in spark, used to issue grants up to 25% (so 1.5m) All sales increase collateral If total debt goes above 25% - you start deleveraging It also subtly aligns incentives towards public goods for the ethereum ecosystem. We aren’t taking direct upside in what we fund, but as long they are bets towards making the broader ecosystem better, the native token (ie ETH) should long term accrue value, giving nouns further leverage in the future and ability to have continued positive impact
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