BIP#17
Title: Increase stablecoin in DAO Treasury by swapping $APE regularly
Idea(BRC): Discord
BIP by: Hill | BendDAO.xyz#0123
Created: 2023-01-06
Status: Community Review
BIP Editor: Hill | BendDAO.xyz#0123
Updated:
Background
DAO Treasury
On-chain details: https://etherscan.io/address/0x472fcc65fab565f75b1e0e861864a86fe5bced7b
BendDAO is also trying to diversify revenue and grow users through product development including Collateral Listing, Down Payment, and BendApeStaking.
BendApeStaking Pairing Service Fee
The DAO Treasury collects the BendApeStaking Pairing Service Fee which should be ApeCoin. Users who pair with NFT and ApeCoin via BendDAO pay a 4% pairing service fee at the time of staking rewards claim, and calculated based on time since the previous claim.
Summary
BEND value is strongly correlated with the Ethereum NFT ecosystem and $ETH. For long-term sustainability, all $APE coins generated by BendApeStaking are proposed to be swapped to USDC on a weekly basis.
Motivation
BIP#17 is proposed to maximize the benefit for the DAO by swapping $APE in the DAO Treasury to stablecoin regularly for long-term sustainability, growing the ecosystem, and improving the protocol’s market position.
- Yes, to swap $APE to stablecoin.
- No, to keep $APE in the DAO Treasury.
3 Likes
At present, bayc and mayc are the key to benddao’s survival. What benddao has been doing is to deepen yuga ecology, including purchasing bayc, mayc and otherdeed. In the future, benddao will expand its community on the otherside to attract like-minded partners. And all of these cannot be separated from ape.
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The price of ape is not at a historical high. If benddao has usdc income, it is suggested to change to ape regularly.
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ape’s revenue is proposed for benddao community’s development in the otherside
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For the development of other purposes, it is suggested to consider using bend tokens from the Treasury
1 Like
One more advice,
There are plenty of unmatched stakings ,
these apes could be used for staking.
such as a twitter retweet lottery，or paird with vebend’s bayc/mayc ,once for about three- six months
All the cost like auditing and product development in the future will be USD based, so we need stable coin in the DAO treasury, BendDAO SHOULD NOT betting on yuga otherdeeds by apecoin anymore.
We are not an invest DAO, we need stablecoin for making this protocol for the whole industry, BendDAO is a tool for any one of the bluechips in long term, not only one.
I suggest that any non-ETH income should be swap to stable coin by default.
2 Likes
Yes totally agree, more diversity in the DAO Treasury, especially with more Stablecoins as reserves, is def needed and long-term positive to the development of the Protocol during both bull and bear markets.
1 Like