Treasury - Swap $24,000 DAI for ETH at Target Price $800

Cryptobuzz1 commented 2 years ago

The amount requested to transfer:

$24000

The purpose of the transfer:

Whilst we have no farmer/trader. I would like to propose the following future trade if the target price is achieved!

Actions:

If ETH falls to $800, swap $24000 of DAI from the treasury to ETH
Target price $1600 - swap 15 ETH back to DAI. Retain 15 ETH in the treasury.
Swap and burn 2.5 ETH of AGFI if sell target reached.
Time limit: 90 days after vote completion. After 90 days this action is considered invalid.
No stop loss defined for the purchased ETH. A separate vote will need to be performed to change the sell targets.

Further notes:

If Agfi appoint a new trader/farmer before the entry price is achieved. The new Trader/farmer will execute the trade on behalf of proposal #9 to the same value with which ever token he wishes from the treasury.

The recipient of the amount:

N/A - Action to be performed by aggregatedfinance.eth

AGFITRUST commented 2 years ago

Very good proposal, I agree 100%

Peertosh commented 2 years ago

Good proposal! IMO we wont see $800 for eth

Cryptobuzz1 commented 2 years ago

I changed the title as I was made aware of a spelling mistake.

Melkorious commented 2 years ago

How long does the proposal suggest it should be valid for? If the Proposal passes, but an $800 ETH price point doesn’t ever come…how long before the Proposal is voided? Please update.

Cryptobuzz1 commented 2 years ago

I have taken the advice into consideration and therefor I have amended the proposal to be valid for 90 days from day of a successful vote .

aggregatedfinance commented 2 years ago

Amended the proposal information for clarity and to define the actions more clearly. Moving this to snapshot for vote as the timelock treasury does not need to release any funds to execute this.

aggregatedfinance commented 2 years ago

Proposal opened on Snapshot: https://snapshot.org/#/aggregatedfinance.eth/proposal/0x72bb8df7f20a5d9e782c9f473115c55e4a4f1f64c5a2743f35eaf6f1c908d64c

aggregatedfinance commented 2 years ago

Vote closed with a majority FOR outcome. Market will be monitored until 31st of October 2022 to determine if ETH target entry price is met.

aggregatedfinance / agfi-dao

Treasury - Swap $24,000 DAI for ETH at Target Price $800 #9