Hello everyone! This is santinomics from Karpatkey.
As Xeonus correctly pointed out, USDC is needed to pay for service providers. According to an analysis conducted also by Xeonus, the USDC projected spendings for Q4 are $1.52 Million USDC.
Considering the current conditions of the market and the short term prospects, we strongly believe that Balancer should play it on the safe side, especially with regard to stablecoins. The risk/reward equation does by no means favor the exploration of new alternatives nowadays.
The proposal to move a portion of the current USDC holdings to Phuture is interesting and definitely deserves careful consideration and due diligence. The timing to move forward is not ideal though, so we believe it should be postponed until market conditions clear up and the risk/reward equation shifts to more favorable terms.
For all of the aforementioned, Karpatkey is currently putting together a treasury management strategy that will consider ultra low-risk investments on battle-tested protocols. It’s imperative to keep in mind that the ultimate goal of the Balancer treasury is to support the long term growth and viability of the DAO, thus every action should be fully aligned with it.