The Ethereum Identify Service (ENS) DAO is contemplating a proposal to promote 10,000 ETH for USDC through a Gnosis Public sale.
The governance proposal submitted on Jan. 18 seeks to diversify the ENS DAO Treasury. At the moment, the DAO holds about 40,746 ETH and $2.46 million USDC.
Nevertheless, because of the extended bear market, the DAO could also be in a susceptible place by being overexposed to a single risky asset. For context, ETH has misplaced roughly 52% of its worth year-over-year.
In consequence, the DAO is deliberating on changing about 25% of its ETH holdings into USDC.
The sale might be carried out through a Gnosis public sale, with the minimal bid worth set at $1,300 per ETH. The sale will generate roughly $13 million in USDC, which might be transferred to the DAO’s treasury.
The proposal added that the funds realized from the public sale might be used to cowl the DAO’s working prices for the subsequent two years.
