The following proposal sends specified assets from the MantaDAO Treasury to the MantaDAO Ops Multisig, and instructs the Ops Multisig to act on behalf of the DAO to perform a divestment of DYDX, investment into RUNE, and USDC.axl debt repayment actions.
The Ops Multisig will perform the following actions (in no particular order):
1) Divest DYDX. DYDX will be divested in order to acquire RUNE. 13k DYDX representing approximately 10% of the DAO's DYDX holdings will be sold for USDC.axl to be used for debt repayment. All other DYDX will be divested for the purpose of acquiring RUNE. The method, timing, and custody format will be at the discretion of the Ops Multisig acting in the best interests of MantaDAO.
2) Disband non-MNTA USDC LPs. The Ops Multisig will disband 3 LPs (INJ/USDC, AKT/USDC, and ETH/USDC) in order to collect the USDC portions of these LPs. The USDC will be converted into USDC.axl and used to repay debt. The INJ, AKT, and ETH portions of these LPs will remain in the Ops Multisig to be used for undetermined future purposes at the discretion of the Ops Multisig acting in the best interests of MantaDAO.
3) Collect stablecoins idle in DAO wallets. Idle USDC and USDC.axl will be sent to the Ops Multisig, converted to USDC.axl as necessary, and used to repay debts.
4) Rebalance USDC and USDC.axl debts. The Ops Multisig will use its best judgement to shift any remaining USDC.axl debt into USDC debt at lower variable interest rates in order to fully close the USDC.axl debt position.
5) Exotic asset LPs. LPs containing Exotic Assets (including but not limited to DOT.axl, AVAX.axl, FTM.axl, TAO.axl, etc) will be sent to the Ops Multisig for custody. The Ops Multisig, acting on behalf of and in the best interests of the DAO, may choose to disband these LPs, divest or consolidate these exotic assets into a different asset, or otherwise use proceeds from the sale of any or all such exotic assets for debt repayment where appropriate.
6) (Optional) USK conversion for debt repayment. The Ops Multisig will use its best judgement if/when to convert USK in its custody into USDC or USDC.axl at an appropriate rate for the purposes of variable interest rate debt repayment on Ghost.
The above actions will be performed in no particular order, and may be performed in parallel where appropriate, at the discretion of the Ops Multisig. The Ops Multisig will determine the appropriate methods to be used to perform the above actions.
Governance Discussion: https://discord.com/channels/1095005002201833495/1317889595312177152
MantaDAO Ops Multisig: kujira1qkh4dhzuyzjx0s8f9avwrns5jusjprva60g2epytpdvdvnmuv4ssngmklk
Pragmatic Monkey's Ops Wallet: kujira192wtay852g79vdhu05v3z9zcg0m20tqpx962t9