8DAOIP - 11 - Season 7 Proposal
8dao.ethDescription
Executive Summary
The 8DAO contributor team hereby present the Season 7 (1 April 2024 - 30 Sep 2024) proposal to 8DAO members.
Season 7 Strategic Goal
“Diversify Tokens In 8DAO Treasury”
In season 7, 8DAO contributor team established a new strategic objective: "Diversify Tokens In 8DAO Treasury". With the recent resurgence of the bull market, it's an opportune time for investment. Diversifying our treasury token is essential for enhancing and stabilizing our financial standing. This strategy allows us to spread our treasury across a broad array of tokens. With this in mind, our token treasury diversification could involve investing in a variety of established tokens. A promising strategy might be to invest in the top 100 market cap cryptocurrencies. The decision to diversify the portfolio will be ratified by the contributor team. An updated portfolio summary will then be available for members to review.
In season 6, a substantial proposal was put forth to swap 150,000 USDT from the treasury and convert it into Ethereum (ETH). This move was seen as a strategic decision to diversify the treasury's holdings and leverage the potential growth of Ethereum. As of the present date, March 25, 2024, this decision has proven to be a sound one. The value of Ethereum has seen an impressive increase, surging by over 50% since the swap was made. This significant rise in value has not only justified the initial swap but also shown the potential benefits of such strategic financial decisions.
This season's key content is as follows:
-
One of our main strategies will be to invest in the top 100 market cap cryptocurrencies using the treasury fund. This diversification will provide us with exposure to the entire crypto market, allowing us to leverage the potential high returns that these assets may offer.
-
We have also decided to downsize our contributor team from 6 to 5 people. This decision was made after careful consideration, and we believe that a smaller, more focused team will be better able to take on the challenges and opportunities that lie ahead.
-
Lastly, we will be holding real-life events where we will share and discuss the current hot topics in Web3, such as BTC layer 2, DePin, and others. These events will serve as a platform for networking, learning, and sharing insights and predictions about the future of these technologies.