[Draft Proposal] Gro <> Bankless DAO Treasury Token Swap ($10k USD-equivalent)

Hi Gro Community!

After the formation of our DAO, we would have our own treasury to support our ongoing operations and grants programs (details to be proposed and voted on). Our treasury would initially be primarily based on our own governance tokens that could fluctuate with market volatility and hinges on the performance of our protocol.

There have been some concerns over treasury that is overly concentrated in its own native tokens (see here and here). As such we would like to propose diversifying our own treasury assets through a treasury token swap with Bankless DAO. This proposal will be for an initial swap of $10k USD-equivalent $GRO tokens for the same amount of $BANK tokens.

This draft proposal would not proceed until we establish a market price for our $GRO, potentially through an LBP through vote 1b.

In the meanwhile, we would like to consult DAO members for your feedback and/or questions regarding the proposal before moving it into an official vote.

Next steps
Bankless will host an AMA in their Treasury Hall channel on Sep 22 6:30pm BST to address initial questions, which answers would be used to enrich this proposal. We can also host another session once we establish a fair market price for Gro DAO tokens. In the meanwhile, we’d appreciate any feedback for this proposal draft and/or any general thoughts around treasury diversification!

7 Likes

This sounds interesting and for that amount feels relatively low risk

Thanks for raising @joyce !

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