Yes. I hear next to nothing like this. Q to everyone, Is there a reason we can’t buy T-bills or short-term treasuries or other similar from democractic Asia or Western Europe with the PSM USDC to reduce exposure, rather than to another stablecoin that is also pegged to USDC?
One is getting the DAO on board. Second is setting up an entity the DAO can control — a simple CU can run away with the money. Third is if we hold enough, that’s an investment company with extra regs.
None of this is intractable. But it’s heavy lifting. I will happily work my butt off to make this a reality if people with the right skill sets can help make it reality. I’m also positive we can wrangle the MKR to make it happen if we have an intelligent plan
I was not thinking about '40 Act implications, oops. Notwithstanding, I thought holding U.S. government securities were exempt. But then again I’m not a lawyer in Maker world I just play one in Omaha courtrooms.
Polls are now closed! In the end BUSD, PAX, and GUSD will move to an on-chain poll to discover whether MKR holders want these PSM options while TUSD will go in as “Sweep Only”. I will determine whether @Risk-Core-Unit will propose parameters before going on-chain or after. Thank you to everyone who participated!
After speaking to @Primoz we determined that the next best course of action would be to have polling on the winning PSM to determine starting parameters (tin, tout, DC). I unfortunately don’t have the bandwidth at this moment to facilitate this endeavour so I am calling out to the community to continue this campaign. Thanks and good luck!
Looks like we’ll be waiting for the parameters to be voted on before bringing this on chain, thanks for the signal @Aaron_Bartsch we’ll be watching Schuppi’s follow up to make sure we see this through to onchain action, as dictated by the community