[Temp check] Convert 20% of ENS DAO's USDC Holdings to Glo Dollar (USDGLO) to fund Web3 Public Goods at no cost

Hi @estmcmxci, thank you for weighing in—appreciate it.

Could you clarify why $920K seems like a steep amount? Until recently, ENS DAO held five times that amount in USDC. Glo Dollar (USDGLO) is very similar to USDC in several ways:

  • It’s fiat-backed (cash and treasuries)
  • It’s US-regulated
  • It’s US-issued

The key difference is that the yield we generate from Glo Dollar would be directed back into funding ENS builders/public goods. This offers a zero-cost way for ENS DAO to support its ecosystem, unlocking $30K to $40K in steady, yearly funding—funds that are currently flowing to Circle.

A lower amount is ofc possible if that’s what the community prefers—e.g., $500K in USDGLO would generate around $20K for ENS public goods/builders. Given the larger USDC balance typically held by ENS DAO that isn’t being reinvested into the ecosystem, we think starting with a higher amount is a win for everyone.

Curious to hear what everyone thinks.

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