I suggest using the accumulated DAI to create a war chest for the HOPR association. This fund would only be used if there is an absolute need for it. In the meantime, and in order to put the DAI to work, I suggest depositing them on the Aave platform where there currently is an APY of approx. 5% for depositing DAI. I also suggest putting the DAI on a multi-signature wallet controlled by core team members if they aren’t already.
The HOPR association war chest funds would only be used under emergency conditions. With regards to what would constitute an emergency, this could be up to the HOPR team to decide or could be a subject for another DAO voting sometime in the future. While HOPR has a treasury in the form of $HOPR already, it might be useful to have some stablecoin reserve on the side for a rainy day.
Thanks for your proposal! Emergency war chests are a useful idea IMO.
But I’d argue that the HOPR price - and therefore the size of the war chest - would be severely negatively impacted in case of an emergency and therefore it’s better to keep the DAI around for that, right?
Maybe it would then rather be useful to think about what could be done to those DAI to secure / grow this emergency war chest?
Thanks Sebastian for your suggestion, I have now modified the proposal - let me know what you think of it.
This sounds like a good idea, if there aren’t other pressing alternatives, saving up for a rainy day is a good choice instead of just spending for the sake of spending.
Thanks for your proposal @Wojt.
I like this idea, make a multisig wallet and use it in case of emergency.
Thanks for the proposal @Wojt. I’ve tentatively marked this as incomplete. I think it’s close to meeting all the criteria outlined here, but I would like to see a bit more clarity / certainty.
First, does “not before all HOPR tokens are unlocked and distributed” mean every HOPR token currently locked and assigned? Because that would mean this money couldn’t be touched until 2025, I think. That’s obviously a possible thing to decide, but doesn’t feel like what you intend.
I would also like to see some more clarity about the investment decision. Your example seems possible, but you marked it as only a suggestion. One option would be to make that a definitive part of the proposal, another would be to clarify what you mean by “no degen play!”
@jayveq and I are around if you have questions.
Dear @thewanderingeditor and @jayveq , I have now simplified my proposal and made it more straightforward. Please review it, hopefully it will qualify now as a complete proposal.
Thanks @Wojt. This proposal is now valid.
You can see the proposal in the official proposals category here: Proposal 1: Creation of a war chest
Anyone who would like to support this proposal, please follow that link and sign the proposal by clicking the heart (like) button.