WIP 10: Conclave Treasury Allocation

Conclave Treasury Allocation

:skull: Abstract | Two or three sentences that summarizes the proposal.

This proposal seeks to convert 10% of the Conclave’s treasury from USDC to ETH.

:skull: Motivation | A statement on why the WAGDIE Community should implement the proposal

There are 2 main motivations - operational and financial.


  • There have been several proposals (WIP2, 4, 8) that required ETH payments. The allocation will act as a reserve for future proposals that require ETH.


  • Some creators would be willing to take ETH for payments within reasonable price windows: e.g. A 5E request at $1500 is still acceptable if ETH falls to $1000.

:skull: Rationale | An explanation of how the proposal aligns with the WAGDIE Community’s mission and guiding values.

Treasury management is a difficult subject. We want to emphasize this allocation is geared more towards operational expenses with the added possibly of increasing the overall value of the treasury in the future. To that extent, we’ve capped the vote at 10%.

:skull: Specifications | A detailed breakdown of the platforms and technologies that will be used.

A decentralized exchange like Uniswap to convert the USDC to ETH.

:skull: Steps to Implement | The steps to implement the proposal, including associated costs, labor, and other resources for each step where applicable.

The community will vote to allocate 10% of the Conclave’s treasury to ETH. If/when the vote is passed, the 10% will be converted from USDC.

:skull: Timeline | Relevant timing details, including but not limited to start date, milestones, and completion dates.

Implemented 1-3 days after the vote is passed.

:skull: Overal Cost | The total cost to implement the proposal (in ETH).

Gas fees to convert USDC to ETH. Any potential loss in value of ETH against USDC.


Although I highly agree, think we should omit any speculation on price movement / direction before finalizing.

The second line below in financial is perfect. It addresses the volatility in a positive matter and showcases fluctuations in USD where 1 Eth is still 1 Eth showing the upside to having ETH in reserve.

Based on discussions from initial general discussion thread we will leave speculation on growth, possibilities of yield etc. to be for other possible proposals .


Appreciate your feedback, removed the quoted line.

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@chimaera how do you feel about the above proposal and it’s language

I feel like we should agree on an amount prior to this heading to snapshot and just have a basic vote: For/Against/Abstain.

With that said, I would probably lean conservative at 10%.


It’s good for me, thanks for addressing the speculation aspect.

Happy to leave the structure (as suggested by @Icculus ) to the Reps to discuss and agree on :black_heart:


15% would be a good compromise for those who wants at least 20% and those who wanted no more than 10%.

A good compromise is not 100% favorable to either side, but leaves both parties feeling OK.

Either way, we could do a short poll before

  • 10%
  • 15%
  • 20%

0 voters


I agree, I don’t think that more than 10% of the treasury should be allocated to a “working” amount of capital or reserve just because of the current volatility of the market. After the merge occurs, there might be additional ways in which we can use eth as a dynamic form of currency and not a stagnant one. For instance we could see if providing liquidity to a 32eth node would be plausible in some respects. I currently vote for a 10% allocation

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Original discussions here: Conclave Treasury Allocation Discussion - #26

seems the lowest option is winning – maybe poll again with values <10% too?

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If we must make a payment in ETH, I’d rather we cost average into eth over the duration of the proposal. Eg if a proposal asks for 10E over 6 months, I’d want us to maybe buy & send 2E/month. Dollar cost averaging is a better way to manage price volatility vs putting x% of the treasury into eth at one point in time.

Are the ETH payments still quoted in USD equivalent at the time of the proposal?
If someone asks for 10E over 6 months and E drops 90% in the first month, it’s hard to imagine them staying motivated enough to continue working 5 months at 10% of the pay…

I’m open to diversifying into DAI, FRAX, or MIM.
Would prefer MIM since DAI and FRAX are largely backed by USDC so they don’t really ‘diversify’ away from it.

Or maybe stablecoins pegged to inflation-adjusted USD. (I think Frax and one other defi protocol were working on this)

This would have to be a separate proposal/ separate convo. Same with any DCA strats, as the purpose of this proposal is to have ETH in treasury for things that require ETH, it’s not about hedging, or investment strategies.


Viable option,

  • 2.5%
  • 5%
  • 10%
  • 15%

0 voters


I left this out of the proposal purposely as the original discussion made it clear this wasn’t about timing the market. I’m not against this idea, but my role in this proposal is to try to accurately reflect the ask of the original.

I actually don’t think it’s that hard to imagine. I would hope anyone who asks for funding has the maturity to 1) finish the project and 2) manage their own funds.

There’s a lot of variables in the hypothetical you provided, but I think it’s beside the point. It’s up to the person making the proposal to clearly define their payment terms.


Proposal is now LIVE for voting: Snapshot

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WIP 10 has passed by 30 votes. Our most divisive proposal thus far.
See Results: Snapshot

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We will be performing this swap sometime next week. I know we are not trying to time the markets but with upcoming interest rate hikes we will watch the market and make the swap with the best information on hand.

This will not be delayed past 1 week.