[Discussion] Buy 3000 SOL

I would like to start a discussion on the proposal which was put on realms Buy 3000 $SOL with $USDC from the Grape Treasury Realms

First I would like to congratulate @CryptoPawz for taking the initiative to put this proposal for voting. The proposal was linked to the delegation [Proposal] Soladex Joins Grape - #2 by Takisoul discussion

Delegating to a specific validator will commence after we purchase SOL, the execution will be possible using the delegate account which will be created on Mango. Realms

Do we have a target average purchase price we are aiming for? Currently the target is anything under $40 until August 1st for a total of 3000 SOL with $79,000 currently in the treasury this would mean we are aiming for $26.3 a average price

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AFAIK there currently is no target average purchase price we are aiming for.

The Realms Grape Treasury is not the complete Grape Treasury, there are also the Raydium IDO funds held off realms amounting to 500k USDC, mentioned by Dean here. I think the proposal included using these funds to carry out the proposal if necessary.

We could start with buying in tranches and get some SOL in with the funds on realms. And then replenish USDC from the IDO funds.

The proposal included many persons to carry it out

who: authorize the Treasury Council, Researcher subDAO and/or DAO Board

So far and to my best knowledge, no one has acted on the succeeded proposal.

@riderinred

At the time of the proposal the Grape DAO controlled Treasury amount is $79,000 + $16,500

We currently have an additional $16,500 in USDC sitting idle here Squads

We could start with buying in tranches and get some SOL in with the funds on realms. And then replenish USDC from the IDO funds.

Yes, so the purchases can start immediately

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The $16,500 in the Bounty Pool Squads are there to reward completed Development subDAO Bounties as per this proposal. They have been allocated towards the improvement of our DAO Tooling.

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@DyNite Has taken initiative and pushed this proposal Swap 2000 USDC to SOL → Squads

Good job @DyNite

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I hear you, just wanted to test the feature out.

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