Hedgey Ongoing Treasury Diversification Proposal

Proposal Information

Proposal description

This proposal is to fund the 1Hive Hedgey ongoing Treasury Diversification Program

Proposal Rationale

The 1Hive DAO needs treasury management tools that provide longevity and stability to the DAO regardless of market volatility. The long term goal is to build up stable xDAI balances such that those funds would be accessible through Conviction Voting with a multi-token Garden Model, freeing those xDAI balances to be utilized for operating payments required to maintain, operate and run the DAO and its future goals.

Hedgey allows the 1HIVE DAO to sell conditional agreements using HNY. These agreements can generate xDAI revenue for the DAO, as well as diversify the treasury in a transparent way. There are additional tools that Hedgey is building that 1Hive can take advantage of providing similar benefits in addition to the conditional agreements that may be utilized.

Related documents

Expected duration or delivery date

Up to 1 year: the intent is to allow HNY to be deployed up to the limit on a continual basis for responsible DAO Treasury Diversification.

Team Information (For Funding Proposals)

Swarm DAO members with equal weight in control of funds:

@DO$H @Paul2 @T Wells @solarmkd

Hedgey Team members with equal weight in control of funds:

@icemanparachute

Funding Information (For Funding Proposals)

Amount of HNY requested:

100HNY

XDAI address where funds shall be transferred:

0x47Aa2DF36e30ADa9f8Ceee54b3C8a60FD4787706

More detailed description of how funds will be handled and used:

HNY in this program will be used to create a series of covered calls (conditional agreements) on the Hedgey protocol. These calls will be available for purchase to the general public. Funds will be deployed from the Gnosis safe multi-sig wallet to the Hedgey Protocol. xDAI received from both revenue and token sales will be transferred from the Gnosis multi-sig wallet to the DAO at various monthly intervals. HNY may also be used to be deployed in upcoming new products built by Hedgey that have the same goal and intent of covered calls - helping diversification of the 1Hive Treasury. As the HNY is deployed and converted to xDAI in a responsible manner, it is the intent of the 1Hive_Treasury_Hedgey_Swarm to continually top up the HNY amounts up to the 100 HNY requested limit. This allows a continual diversification over the course of several months. The end goal is to have $100k in xDAI available in the DAO, received in a responsible manner consistent with the community and DAO membership.

Note

This is the result of the positive Hedgey Pilot Program, and intended to be used on a regular basis over the course of several months up to a year. The end goal of $100k may require a few top ups of HNY amounts as some of the HNY is converted to xDAI and delivered to the DAO.

7 Likes

Let’s get some xDai in the 1Hive treasury! :bank: :bank: :bank:

if I could only borrow HNY on agave to make this pass faster :grinning_face_with_smiling_eyes: :thinking:
buidling a stablecoin reserve has never been more important imo…

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You can always borrow usdc/xdai and buy HNY