My fellow retards,
Elves chatter about selling some treasury PHONON to a handful of well-regarded VCs or private investors.
PHONONs make up almost the entire treasury at this point. There is need for ETH / stables to pay upcoming bills. There are community members who do tremendous work, many of which are willing to take payment in straight PHONON or call options as offered by phren Mickey’s Commsigliere. Still there are obligations that must be paid with currencies outside of PHONON. Thus, it is logical to build a small reserve of those currencies.
This deacon hears that one or more phrens want treasury diversification because they believe ETH is going to $4k by end of year, post merge. They use that as reasoning to buy ETH. That is illogical and makes apparent the lack of understanding of the leveraged nature or tokens and shitcoins against base pairs such as ETH and BTC. If the big boys go up, then you’ll likely want to hold your favorite tokens or shitcoins because they will trend in the same direction with greater magnitude movements.
Back to diversification. Phon/ongod prefers to hold PHONON. Phon/ongod also prefers to do what it takes to win. Bribing wins. Simple truth of this world. If you can pay some unhappy, incompetent government worker in some third world country $500 for a needed visa or stamp that will generate revenue for you >$10,000 then you should do it. So long as:
Reward > (initial outlay) + (Probability of fine * Cost of fine).
Phon/ongod views the quest for some diversification as an opportunity to enact some positive bribes. Your deacon never wants to sell PHONON, but instead views it as buying external supporters. If the DAO can sell ~5% of the treasury and convert that into some ETH and USDC that’s logical. The DAO could probably do that from community members right now. But if the DAO can sell ~5% of the treasury, get some ETH and USDC and also buy the support of well-known VCs or well-regarded Ethereum personas, then the DAO gets much more than a return of some coins. The DAO gains reach, to grow the communities, to purchase guidance. This alone makes the case for asset diversification as it nets capable, well-regarded individuals or investors.
Phonon has done brilliantly with completely organic growth, but a little bribing never hurts. Which expertise and reach should be the first target?
Phonon DAO is making moves.
Tips to phonongod.eth will be invested in bounties that advance the Phonon project.
Hatemail to phonongod@protonmail.com will be scathingly considered.
Targets for the marketcap of PHONON DAO remain:
$1b by Q2 2022, $12b by EOY.
On the high end, $300b marketcap in 3 years.