0xbc3ed6b5…72c4sent to0x6f3e6272…223d·#17,564,088·view on Etherscan
Grateful to the Cozy team for this proposal, but I am against. I have previously voted against staking ETH, at all.
I do not think the DAO is optimized to make these kinds of risk and yield decisions. If we are concerned about depegs at all, I think we should just hold ETH. I am sympathetic to the point that voting on things like this is not a great use of the DAO's time.
I *do* want to see the DAO support important DeFi work where it can make sense, though. To be honest, I think I would be more open to just doing benevolence grants for co-marketing or something like that, rather than actually using our treasury in DeFi.
My vote on [Proposal 217: Stake additional 5000 ETH in Lido](https://nouns.wtf/vote/217)
> 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."
*sent from voter.wtf*