ProposalsProposal 217
ProposalsProposal 217
The DAO has previously staked 4500 ETH in Lido. This has grown to 4705 stETH for a return of 4.5%.
This is a proposal to stake an additional 5000 ETH.
agree that we should be staking the eth, but would like to see the strategy diversified into rocketpool
Nouns DAO is not an investment DAO, so earning yield should not be a priority. However, I do support the staking of ETH with the bottom third of the treasury as it is passive, relatively low-risk, and aligns with Ethereum. That said, we should consider trading a portion of our Lido Staked ETH to Rocket Pool ETH when possible.
Prop 217: YES WINS
39 Yes, 11 No, 3 Abstain
16 Nouncillors abstained from the decision
Vote Reasons & Discussion
Mach | "I don't see why not"
Josep | "It's a way to get some return on an ETH that otherwise will stay in the treasury without moving, sounds good to me."
Classic_Craig | "After Don educated me on the difference between decentralized staking and CeFi, I think earning yield on funds in the DAO is an amazing play toward sustainability beyond just auction revenue!"
pemburux | "Defi summer 🎉"
profwerder | "I'm not against staking but it seems unwise to put an additional 5000eth in the same pool. Would like to see more discussion around this."
lilpizza.eth | "no brainer move"
Mindtoasted | "I believe in stake, i vote yes on this"
For more Nouns DAO proposal discussion head to the Nouncil Discord: https://discord.gg/nouncil
"To complete the cycle, we must feed the treasury back into the culture via the DAO. It is this critical step that can elevate the Nouns project from a fun and exciting experiment, to a virtuous cycle that reaches the world and forever impacts cryptocurrency and governance."
I think that using the treasury to earn yield is a slippery slope and is a path we should avoid. The treasury should be used to fund Nounish ideas. We should not be seeking 5% yield opportunities but rather opportunities to 10x or 100x the number of people who know of Nouns, 10x or 100x people's passion for Nouns, 10x or 100x Nounish organizations' or creators' resources, etc. I see seeking treasury yield through DeFi as a distraction from these other things and think it is outside the DAO's mandate.
I also worry that putting the treasury to work earning yield will make people less inclined to spend the treasury when I would prefer something of the upset approach: burn "stale" treasury ETH past a certain date as an incentive to "us it or lose it."
Keen on active treasury management for sustainability and this doesn't seem to be discussed as much as I thought it might be
The DAO has previously staked 4500 ETH in Lido. This has grown to 4705 stETH for a return of 4.5%.
This is a proposal to stake an additional 5000 ETH.