The ENS DAO proposal to sell 10,000 ETH for USDC is set to be executed, having gone through a successful vote.
This trade will take place via CoW Swap. The DAO hopes to earn at least $13 million from the sale, increasing the DAO’sThere was some debate over how the tokens should be sold. The proposal stated a single swap of the 10,000 ETH tokens for USDC. Some USDC delegates argued in favor of breaking down the sale into smaller units. They also suggested that the DAO shouldUltimately, the DAO has gone for a single swap strategy.
The funds raised will also be used to support the DAO’s core working groups, of which ENS DAO has three. The budget proposed could see these working groups claim as much as $6 million in the next two years. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
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