We have a situation on our hands. Since 12 February successful transfer, 16592 ETH (~$48 million USD) sits in Wau-Holland-Stiftung’s wallet (0xa61cdfbe68ee3def37f3a08a25d0790a1eb0fe5a). These funds are intended for Julian’s defense: primarily lawyer fees and associated expenses.
But how much of it is required in the near-term, and how much is just sitting there, idle.
I raise that the fund be split into different pools to maximize the longevity of the funds raised
• 1. short-term projections for necessary funds be made. these should be converted to stable coins.
• 2. and the remainder be distributed among ideal staking or yield farming options: Aave, Yearn, Curve, to name a few.
Funds that have been raised should be maximized.
I believe this should be fairly common ground.
Proper accounting of spending is one such way.
However, given the size of the raise, the DAO should not overlook the potential for future returns.
Napkin math here but a 5% yield on 48 a million dollar fund generates an est. $2.4 million p.a.: roughly ~$200,000 USD / month.
[ Can the potential to reap such returns be written-off? ]
That is the question.
I hope the DAO’s collective answer is No.
Thank you for time and reading this anon friends.
May a vote come soon and our coins go to the moon.
*as a side note: the matter of the returns will naturally crop up. It is likely to be contentious.
To those who would bring it up, i would suggest that the DAO should move ‘one matter at a time; one vote at a time’. We do not yet know how challenging it may be to have Wau-Holland-Stiftung set up some form of staking / yield: there may be barriers, legal or otherwise, preventing it.