Due to the time sensitive nature of this proposal, it's been approved to be expedited by the SPS DAO Foundation board.

About

The purpose of this proposal is to allow the SPS DAO to begin programmatically selling it's liquid BNB holdings to accumulate stable coins and prepare itself to capitalize on some of the current price appreciation of BNB over the recent (and potential upcoming) months.

You can view the SPS DAO's holding on the Binance Smart Chain here. Currently the value of the DAO's liquid BNB tokens has risen over $70,000 since July and could continue to appreciate in the event that the bullish market sentiment continues to grow. Capturing that value could be beneficial for the DAO's long-term sustainability.

Please note, the SPS DAO also currently holds 367 BNB in our largest liquidity pool and this proposal will not touch those funds. It would only approve the sell of idle liquid assets for stable coins.

Proposal

If this proposal passes, the SPS DAO will convert 10 BNB into USDT every week for 12 weeks.