This post proposes to reconfigure the token request app to instead of Ether accept multiple stable coins.
Current volatility has made it clear that using Ether as a funding mechanism and store of value for the DAO might negatively impact the financial stability of the DAO. Drops in the price of Ether greatly impact the runway. In my opinion PieDAO should prioritise financial stability over benefitting from possible price increases in Ether.
Remove Ether as an accepted asset for the token requests and accept DAI, USDC and USDT instead.
We should consider accepting interest bearing assets from Compound and Aave.
The voting app in the DAO has the ability to add and remove tokens from the accepted token by the token requests app. (In simple terms we can vote tokens in and out). This needs to be triggered by a DOUGH holder from the CLI interface. Once the votes have passed the new tokens will be accepted.
Let’s discuss before initiating votes.