This sanity check’s objective: reduce HumanDAO’s reliance on a single stablecoin issuer while amplifying its social impact on humans in extreme poverty.
Right now, the treasury is heavily concentrated in USDC and volatile assets. We should consider diversifying a portion of the USDC treasury into different stablecoins. This will enable a more resilient treasury that is less vulnerable in the event of a depeg with cascading consequences.
I work with a project called Glo Dollar. We’ve developed a stablecoin that is 100% USD-backed and US regulated, just like USDC. Unlike USDC, all of our treasury revenue funds basic income projects for people in extreme poverty, run by GiveDirectly. By diversifying our assets into Glo Dollar , the HumanDAO treasury would become more resilient - and simultaneously support a social impact stablecoin aligned with HumanDAO’s goal of improving lives through Web3.
I would love to discuss the topic of treasury diversification broadly, as well as answer any questions about Glo Dollar the community may have.
Do you approve of HumanDAO diversifying its treasury with the Glo Dollar stablecoin?