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mike rainbow (rainbow mike) ↑
@mikedemarais.eth
the "india covid relief fund" is the 5th largest onchain treasury in crypto with $212.62m of stables/ETH/BTC according to @defillama watdahek? why are they sitting on so much money still? isnt covid over? https://defillama.com/protocol/india-covid-relief-fund?treasury=true#treasury
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keccers
@keccers.eth
Probably better to be sat on than spent unwisely Still Watdahek
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mike rainbow (rainbow mike) ↑
@mikedemarais.eth
they should at least park it in DAI and earn 10%+ of yield on it instead of hodling $200m of vanilla USDC they are missing out on $20m a year
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Zenigame
@zeni.eth
I don't know much about Indian government, but I've seen the inside of highly bureaucratic institutions enough to know that doing anything even slightly creative is more likely to be punished than not doing anything at all.
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keccers
@keccers.eth
If this was in the real world there would be a way for you to sell your services to actively manage this treasury, do exactly what you outlined on their behalf, and get a nice fee for it too. Like I want that for you lol
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