The Forth DAO is currently in possession of several tokens but is deficient in USDC Ampleforth Dashboard. This proposal requests to capitalize the DAO with 500K USDC by purchasing FORTH at market price.
To price the FORTH we’ll take the 7-day simple moving average price from TradingView looking back from the time of this submission ($3.331 / FORTH).
This USDC can be used by the DAO for many things including DAO-owned forever liquidity.
A bit confused on who is purchasing the Forth? And is that entity one that has any interest in the Forth ecosystem, i.e will they participate in Forth proposals/votes?
Where is the USDC coming from?
In support of this. But there is some confusion, maybe due to wording? Is this to “buy usdc, USING the DAO owned Forth?”…
Im assuming this is the meaning, but yes in favor of this, sounds like it could bring a lot of extra liquidity, but would be interested to discuss specifically which liquidity pairs you have in mind and the economic logic.
Agree, we should discuss further on which liquidity pairs are most beneficial. We can move that out to a separate post.
@danb yes it could be phrased that way. From the DAO’s perspective, it would be purchasing USDC using FORTH.
I’m writing this proposal at the service of the Ampleforth foundation. The foundation has offered to purchase FORTH at market price, using USDC.
Thanks for the clarification Evan. I’ve posted a signal vote here:
https://signal.ampleforth.org/#/proposal/0x054a514cadc4db82cbe79d1ab9a5d6dcef52a02c370abae71872d4841db89ef6
Ampleforth foundation purchasing 500K USDC worth of Forth from the Ampleforth DAO seems like a straightforward transaction. I am in favor of this proposal
