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# [HIP-38] Treasury Diversification

avatar
Hop by
olimpio.eth
on
October 9, 2023, 6:35 PM

[HIP-38] Treasury Diversification

Summary

Sell 50% of Hop DAO’s ARB holdings (837,007 ARB) for USDC. This should raise approximately $686k for Hop DAO at current prices (~$0.82).

Motivation

Hop DAO will need stablecoins to cover ongoing expenses. This sale would be an initial step toward the broader goal of treasury diversification.

Execution

Before an onchain vote, a deployment of the Hop Community Multisig should be deployed on Arbitrum. The onchain execution of the proposal will send a message through the Arbitrum messenger to trigger a transfer of the ARB currently in the Hop Treasury alias 6 address to the Community Multisig. The Community Multisig can then complete the sale in a series of transactions.

Voting Options

Sell 50% of Hop DAO’s ARB holdings for USDC No action Abstain

Warning

Exercise caution when exploring DAO proposals. Proposals can be submitted by any member of the community so there's an inherent risk of encountering scams or deceptive links. Always critically assess the validity of each proposal and its links before taking action.
start
October 9, 2023
6:36 PM
end
October 16, 2023
4:30 AM

Voting type
basic
Votes
8,220,077

Final Votes
closed

Against
89.9K HOP
1.09%
For
6.8M HOP
83.31%
Abstain
1.3M HOP
15.6%