{"postId":"opengov:42","kind":"opengov","title":"Transfer 300,000 USDC for LDO, LINK & SKY OTC","body":"This proposal, if approved, will transfer `300,000` USDC from the Hydration Treasury to `7P1rya6QroPc2kH7vBZmpZZ5ytyFAJ7dgw3ewwfZbTdWTg6K` - a 3/5 multisig consisting of Hydration Council members lolmcshizz, Leemo, Giraffe, Crane & Jose.\n\nAfter completion of the WBTC & iBTC swaps into native USDT & USDC from referendum #35 ([Referendum #35](/referendum/opengov/35)), the Hydration DAO successfully accumulated `~638K` of stablecoins, which means we can diversify into `200K` of each of LDO, LINK & SKY. Firstly, we will accumulate `100,000` USDC equivalent of LDO, LINK & SKY through OTC. By executing this through a multisig instead of directly from governance action, we can ensure that the price executed is as close to market price as possible - as waiting multiple days to place an OTC order could result in paying far too much for those assets, or failing to accumulate them at all.\n\nThe funds will be used as follows:\n\n- `100,000` USDC total through OTC to accumulate LDO\n- `100,000` USDC total through OTC to accumulate LINK\n- `100,000` USDC total through OTC to accumulate SKY\n\nThe multisig signers will attempt to place OTC orders for LDO, LINK & SKY between `0 - 2%` of market spot price in order to offer a small premium to the order fillers, whilst achieving the best price for Hydration DAO.\n\nOnce the OTC orders are completed, and trade has subsequently started in the Omnipool, a DCA will be scheduled for the remaining `100,000` USDT of each of the assets, before adding that also as liquidity to the Omnipool.","bodyFormat":"markdown","tldr":"","labels":[],"linked":[],"author":{"account":{"accountId":"0x8aee4e164d5d70ac67308f303c7e063e9156903e42c1087bbc530447487fa47f","address":"149AQApEw4Xe1DxWesqywiuGQHazbETMgWgT89WjEYFAc29y","emoji":"🍁","emojiName":"heimdall","emojiUrl":"https://cdn.discordapp.com/emojis/1005035405864869939.webp?size=32","tag":null,"identity":{"display":"lolmcshizz","verified":true,"email":"","web":"","twitter":"@lolmcshizz"},"profile":null},"legacyName":null},"authority":"subsquare","revision":0,"createdAt":"2025-03-14T17:22:00.000Z","editedAt":null,"lastActivityAt":"2025-03-19T05:21:00.000Z","commentsCount":38,"updatesCount":0,"upvotes":0,"threadKey":"opengov:42","source":{"name":"subsquare","id":"67d465f3d3d02b83d3e45609","cid":null,"removed":false},"bannerCid":null,"banner":null,"poll":null,"locked":false,"media":{},"hidden":false,"generation":"6690c444c3e1fdf2"}