PIP - Treasury Stablecoin Diversification

JPEG’d treasury stablecoin composition is almost entirely USDC, I propose the JPEG’d DAO diversify their USDC composition into more decentralized stables such as LUSD, sUSD, MIM, RAI, and perhaps other forms of stables to mitigate single point of failure

Seeking the DAO’s authority to diversify to these stablecoins into a mix deemed appropriate by multisig

11 Likes

In light of the current climate surrounding USDC, I strongly support a proposal aiming to diversify the stablecoins in treasury.

2 Likes

Oke but no algo stable for me though.

USDC at 0% then or? Cause otherwise wouldnt make sense or

Sure, i support this proposal, we should avoid this kind of single point failure as soon as possible

1 Like

Good proposal. I would suggest adding flexibility to diversify into DAI and FRAX as well.

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i like the proposal and i fully support it.
add crvUSD too, when they launch

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I like the proposal - anything that moves the treasury another layer away from a censor-coin is a good idea. I highly recommend OUSD (Origin Dollar) since it automatically rebases (earning yield) with a very safe, proven track record. They have plans to increase their yield strategies to incorporate a lot of the stables you listed there, so expect APYs in the range of 4-10% without centralization risk.

The discussion makes sense, I personally have a positive bias for $LUSD and $RAI and soon $GHO from Aave and $crvUSD from Curve which will arrive soon

What do you think about also diversifying treasury into other fiat-pegged stable currencies such as $PAR (Euro stablecoin) from Mimo ?

I must specify that I work for Mimo Labs, a contributor to Mimo.