[DAO: QmcMsgM] the DAO owns +$1M USDT, a really SUSSY coin

Governance
1

by 0x1e09a216b70d46229f3fe86d3ad2e47ae01f7989 (Tobik#7989)

I’m resubmitting because I was focusing on two coins when the point is to look for other alternatives.

Hello, community. I’m just doing this proposal to ask you what you think of the DAO owning +$1M in USDT. A crypto which is run by shady people and has been changing its narrative of how they pair to the dollar through the years.

I’m linking an article which will give you a better perspective of this coin: The Tether controversy, explained - The Verge

But there is a better video made by Coffeezilla which goes even deeper in regards to this: https://www.youtube.com/watch?v=-whuXHSL1Pg\&t

Please take in mind that this proposal it’s not financial advice, but USDC (backed by Circle / Coinbase) and DAI seem better options. Even BUSD from Binance seems more legit.

The idea of the proposal is to know what you guys think but also to make sure the funds of the DAO are secure.

  • Keep holding USDT
  • Migrate to other stablecoins
  • Invalid question/options

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

2

Hey guys (@Vaporizador & @Eibriel), I’m resubmitting the proposal just to make clear that am only looking for other stable coins and not talking specifically about DAI/USDC. BUSD could be another option.

4 Likes
3

While I agree with you @Eibriel that we should split the money into different coins, holding +1M USDT on Tether it’s insane.

2 Likes
4

Not to mention that a recent video has been released on how they lost $10 billion

2 Likes
5

Should we assign some of that USDT to buying Bitcoin as a long term treasury asset.

3 Likes
6

+1 to Migrate to other stablecoins!

1 Like
7

Agreed- USDC > USDT imo

1 Like
8

Hope they migrate to BTC!

9

Diversification allows trusts to be less impacted by huge swings in any market. I voted to migrate to other stable coins.

10

the DAO owns +$1M USDT, a really SUSSY coin

This proposal is now in status: REJECTED.

Voting Results:

  • Keep holding usdt 1% 3,103 VP (2 votes)
  • Migrate to other stablecoins 41% 588,669 VP (27 votes)
  • Invalid question/options 58% 821,216 VP (2 votes)
11

to many stupid eth maxis in the community.