The DAO has just voted overwhelmingly to stake 5000 ETH, bringing our stETH holdings to 9700 stETH.
This is a proposal to stake an additional 5000 ETH.
The DAO has just voted overwhelmingly to stake 5000 ETH, bringing our stETH holdings to 9700 stETH.
This is a proposal to stake an additional 5000 ETH.
Not necessary. Let's diversify our current stakeholdings and focus on funding initiatives that bring attention ROI to Nouns.
Prop 227: Nouncil Votes NO
NO - 29 votes
YES - 15 votes
ABSTAIN - 1 votes
This would allow us to fund up to 4 more great Proposals in the next twelve months. The risk of stETH is largely born by our treasury irrespective of our actual mix of ETH in stETH. Also, given that we need all the funding we can get, I'd be open to rETH if it allays concerns around stETH, solutions to switch the mix are doable.
Let's work on diversifying our existing stETH holdings before taking on additional risk.
Personally uncomfortable staking more than 1/3 of DAOs ETH until staking services are more 'Lindy'. Would support diversification of current position into rETH but strongly against adding additional risk at this time.
Reasonings compiled here: https://cbites.substack.com/p/active-governance-noun-582-1
