This is the temp check related to this post: SLP Preservation/Conversion Specifics
Currently the BSLDAO SLP is subject to the rise, and fall, of both Ethereum ($ETH), and Hedera ($HBAR).
The HBAR SLP is viewable here: https://hashscan.io/mainnet/account/0.0.7220452
The ETH SLP is viewable here:
There is a pending loan in the pipe for approval, and a PayDay Alternative Loan (PAL) opportunity available with a credit union partner.
In order to diversify and preserve liquidity for DAO lending operations, it is proposed:
Upon issuance of the next loan, or at a date mutually agreed upon by quorum of the DAO Delegates and BankSocial representation, the BSLDAO SLP Funds shall be allocated as follows:
50% (75% if no loan funded) of the remaining ETH funds will be converted to USDC(hts), or rUSD(hts), whichever is available and chosen by the delegates, and moved into the DAO Hedera Multisig Wallet.
Further, 50% of the pooled HBAR will be offramped and provided as liquidity to fund PAL loans through the credit union partner, with the details of that arrangement to be outlined separately, and 25% of the HBAR will be converted to USDC(hts)(or rUSD).
This will result in ~25% of the ETH and HBAR values remaining exposed to market volatility as we head into the future cycle.
Additionally,
The future SLP, until amended, will, upon reaching $250,000 be converted as follows, each time:
$100,000 to USDC(hts)(or rUSD, based on delegate decision of best opportunities/growth methods at the time), and $50,000 offramped to PAL funding.
Leaving $100,000 in the pool as native HBAR.