The purpose of this proposal is for the SPS DAO to begin accumulating stable coins to replenish its holdings by slowly selling some of its Ethereum under specific circumstances which aim to take advantage of potential market uptrends.
If this proposal passes, the SPS DAO will begin converting its Ethereum to USDC as follows:
Each week that the price of Ethereum is greater than $5,000 according to Coin Market Cap the SPS DAO will convert 4 of its Ethereum into USDC.
This process will continue until the SPS DAO has 100 Ethereum tokens remaining in its Ethereum wallet and LPs or the SPS DAO chooses to rescind this proposal with a subsequent vote.
As of the time of writing the SPS DAO is in possession of 296.31 ETH and only 161,733 USDC in its Ethereum wallet.
Please note that this proposal will require weekly action from the SPS DAO Treasurers and the timing is unlikely to be exact. The treasurers should aim to be as consistent as possible in executing the transactions.