AIP: Maximize the value of the ETH raised: Stake or Yield farm

Summary


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.


Proposal


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.


Motivation


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.

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.

Normally isn’t that what organizations do, develop an endowment from which they can hire staff, why should they neglect their endowment, what are they getting out of the equation?

I don’t see how we can decide to vote ourselves someone else’s money.

I wrote the above proposal based on the following:
• Wau-Holland-Stiftung specifically said funds would be used for “lawyer fees and associated expenses”. There was no mention of an endowment fund.
• The on-chain Ethereum has yet to be moved or sold.

The proposal is based on the fact that the raise was made FROM the cryptocurrency community, IN cryptocurrency. Perhaps you are right and OTC deals are being made to sell the ETH into fiat, then have endowment funds made after that. But such an action, while not illegal, would be in bad taste.