cc: Above -----------------
My thoughts are pretty strange.
Alright, I have an opinion that you should hold the digital yuan CBDC.
But I donāt know if there will be any legal problems or not. But at least it has state support.
Besides, hold gold for risk management. You can get it as PAX Gold if you donāt get it.
I donāt know if there will be any problems later. But something that Who can physically manipulate. Itās more stable than the code.
Storing USDT is quite dangerous unless he has the CIA behind him.
In the last line, I was joking. Haha.
Im taking note of all this and putting it in the backlog
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Regarding DCAāing into stables, Iād like to propose using Mean Finance protocol (@mean_fi on Twitter) . Itās a great product that allows to DCA (daily, weekly, monthly) into any ERC-20 by paying a one time Tx. They are constantly making UX improvements and recently launched their v2 on Optimism.
I believe itās a much better way to DCA into stables vs market selling each time (higher impact + expensive gas fees)
They have been featured on The Daily Gwei (Sassanoās newsletter)
Project fully open-sourced.
Github: GitHub - Mean-Finance/dca-v1
Docs: https://docs.mean.finance/
(Iām NOT affiliated to this project - itās a genuine recommendation)
you may consider OH Finance.
It strikes me as foolish for treasury management to be done by trading ETH for stables or any sort of LP that produces yield. Trades like this could be taxable events. We all believe that ETH is an excellent long term treasury asset. Simply holding it will safeguard the treasury. If CityDAO needs stablecoins to pay expenses, it can use MakerDAO and borrow DAI against ETH to pay said expenses. This project should not be acting like a hedgefund. It should stay focused on developing products that relate to bringing real estate on chain and building a Web3 powered city of the future.
I approve of the Treasure Phase 1 and Treasury Management Strategy. I agree with @Fugyeahās suggestion of a treasury management team, though I think their compensation would need to be voted upon, lest we fall afoul of the modern trend of asset managers to achieve high short term yields in order to receive high commissions at the expense of long term stability.
I think @Tex makes an interesting point about hedging with gold or a gold derivative. As for the suggestion to use RMB, hedging with currency is possible, but maybe a basket of fiat assets such as TUSD rather than any single currency, if weāre going down that road.
My only suggestion is that, as @greg mentioned, taxes need to be considered and it might be worth it to be putting aside our potential tax payments now in USDC as opposed to attempting to time the market to sell ETH at the top. Our goal in CityDAO is not to make the best ETH sales in 2022. Itās to be stable and compliant with the law. Making sure we have our tax payments ready in USDC puts us in a more favorable long term position.
How are you doing with this analysis now. Early march?! You actually timed the market and you were dead wrong. There will be a bit of correction and then to the moon. I said I am a position trader meaning I donāt bother with a daily chart. Go learn to be humble.
Lmao, i never ātimedā the market.
āgo learn to be humbleā
Go learn to read the proposals that I created. There was no intention of ever timing the market. We are not a trading organisation, we should not be exposed to this much ETH, full stop.
āThere will be a bit of a correction and then to the moonā, great thanks for your extremely helpful analysis on this one.
Also, did we sell ? no ā¦
Next time, instead if trying to come into the forum to troll comments. If you have something useful that you want to share, make a proposal for it. People will listen if its not just āi think we should do this just because we shouldā