Closed sajanrajdev closed 4 months ago
i think there was some talk of using frax as the first stablecoin to divest from.
i think there was some talk of using frax as the first stablecoin to divest from.
You are right, will adapt the calculations from above to include the FRAX divestment.
The following amounts are required to fullfil the approved Badget for Q2 2024:![image](https://github.com/Badger-Finance/badger-multisig/assets/25463788/6edf8c4b-dba3-4aab-9fb0-92b8f2e63490)
Note that the Q1 Variance represents the leftover amounts from the Q1 budget, resulting from the variance on the projected.
In order to fulfill the request, FRAX and USDT will need to be swapped for USDC. The treasury vault currently holds 434,731.92 USDC, 372,978.79 FRAX and 1,086,640.7 USDT. An additional 527148.08 USDC is required. The full FRAX amount will be swapped for USDC and the remaining from USDT. This last one should be swapped so that the vault ends up with equal amounts of USDC and USDT.
Therefore, the steps should be:
0x1c2C8b6B5EcFFdF242158Eb21366c48B4A2164Fa
0x1c2C8b6B5EcFFdF242158Eb21366c48B4A2164Fa
Finally, we agreed to divest from DAI to USDC to consolidate stables in fewer flavors.
NOTE: The payments multisig currently holds a higher amount of both of these assets than that denoted in the variance. The reason for this is that part of the current holdings are already earmarked for Q1 expenses that are yet to be paid.