0x7bfca252…fa6asent to0x701945c2…b4fe·#20,385,752·view on Etherscan
{"title":"BTFD: Purchase LIDO Staked Tokens with Treasury.","description":"Given the nice little dip going on right now (damn you, Barry Silbert!), it feels like a prime time to dollar-cost average (DCA) into ETH. The current market conditions present a unique opportunity for us to strengthen our position in Ethereum at a lower average cost. Additionally, considering Lido stETH, which is more or less fungible with ETH, presents an attractive bonus of staking rewards.\n\nHere’s why adding stETH to our Treasury is a smart play:\n\n**1. Continuous Staking Rewards:** By converting ETH to stETH, we're not just holding; we're actively earning. stETH accrues staking rewards daily as it represents a staked position in the Ethereum beacon chain. This means our holdings in stETH grow over time without any additional effort on our part.\n\n**2. Liquidity and Fungibility:** Despite being a tokenized staking position, stETH can be traded, used in DeFi protocols, or moved between wallets just as freely as ETH. This ensures that we maintain liquidity, crucial for any sudden treasury needs or if we decide to capitalize on other investment opportunities.\n\n**3. Risk Consideration:** It’s important to note that while stETH generally mirrors ETH, slight deviations in price can occur, known as the stETH/ETH peg. These deviations are typically minimal but should be considered in scenarios of extreme network congestion or significant changes in the staking dynamics.\n\n**Plan Implementation:**\n\n- **DCA Purchase:** Tether will be transferred to a fresh wallet to begin the DCA activity. Over the next two weeks (14 days), we will systematically purchase ETH to capitalize on the current market prices.\n\n- **Conversion to stETH:** Post-acquisition, the collected ETH will be converted into stETH. This action will position us to start accumulating staking rewards immediately, enhancing the overall yield of our treasury assets.\n\n- **Transfer Back to Treasury:** Once the conversion is complete, all stETH will be transferred back to our main Treasury. This centralized approach ensures ease of management and security.\n\nIn conclusion, leveraging stETH in this manner not only enhances our treasury’s growth through staking rewards but also maintains our flexibility and readiness to act on new opportunities. Let’s make our assets work for us while we sleep!","contentURI":"","contentURIType":"url","proposalType":"TRANSFER_ERC20"}