Saying it’s a majority of the DAO’s ETH is misleading. The DAO currently holds roughly 75 million in ETH investments not including this 5k ETH, or the other 5k ETH proposed to be moved into the Endowment via 6.2.
Please see the excellent monthly Steakhouse reporting thread here in the forum and the excellent Karpatkey monthly DAO overviews.
The DAO’s revenue is in ETH.
The DAO’s expenses are in USDC.
Because the DAO’s expenses are in USDC (Labs Streams, Service Provider Streams, working group expenses, etc.), we have to swap ETH to USDC to pay the expenses.
This swap is actually a responsibly-designed swap that limits important variables like market volatility and swap per day (approximately 55k ETH per day for 3 months) and tries to track closely with needs of the DAO’s USDC based OpEx.
Your comments show an interest in frugality or better reporting. Those are excellent initiatives, and delegates like yourself are empowered to open Temp Checks and Proposals for those or other processes improvements at any time.
Remember, it’s each of us as voters who are responsible for the expenses in the DAO.
It looks like you voted in favor of all the large USDC streams that require this proposal to be funded: