0x393bc37e…18cfsent to0x9d4c6356…1639·#20,191,330·view on Etherscan
# SGTM 001: Converting $5M GTC to Stables
**We are asking for $5M in GTC from the treasury to swap into stables and put back into the treasury to be prepared for the next bear market**.
We’ll repeat this cycle with additional proposals once the cycle from this proposal has been completed. We aim to lay the tracks for a longer Gitcoin runway.
Full Post: 
<https://gov.gitcoin.co/t/passed-sgtm-001-converting-5m-gtc-to-stables/18583>
## Updates - 02 May 
**Change in Execution Method**
* We are moving away from using Coinbase for direct execution. Instead, proposing establishment of a new 3/5 multisig wallet.
**Revised Community Voting**
* Reflecting the change in execution strategy, the updated voting option will be:
*“Yes, fund the $5M and transfer it to the newly established diversification wallet.”*
Given the current state of the market, we’ve missed the current window but will be ready to execute when favorable market conditions arise - once the funds are in the MS. I still intend to engage partners in a Phase 1/2 of the diversification, however want to make sure we’re not losing steam in the interim.
I appreciate everyone’s feedback on this post! There are some great learnings, and I’ll endeavour to breakdown more context (like platforms we can/can’t work with as a Cayman entity) and partners/strategies we’re evaluating. I’ll also use the [initial post](https://gov.gitcoin.co/t/temp-check-sgtm-000-treasury-management-strategy-for-gitcoin-v1/18564) to track these proposals and partners in the future.