[Discussion] Continuation of SOL-swapping?

According to the votes in [Discussion] Grape Validator a proposal was created and it succeeded, and we staked 2000 SOL with Shadowy Super Coder Validator; we used the SOL from swapping USDC on Mango.

Due to the Mango incident in October, we stopped swapping USDC for SOL and didn’t swap the full amount, as suggested in the initial proposal on Realms.

We swapped and withdrew 2046,24 $SOL for an average price of ~33.17 USDC/SOL.

With the now-ending proposal to get back the remaining 32.131 $USDC from Mango, we need to decide what to do with it and whether we finish swapping or not.

Continue swapping
  • Yes
  • No
  • Abstain

0 voters

One option could be to create a Squads multi-sig wallet and continue to swap USDC for SOL on Squads via their integrated swapping feature (uses jup.ag).

Since this is only one option, we can use this thread to discuss possible alternatives in case we decide to continue.

Due to Squads being a multi-sig wallet and having no option to delegate the funds, we’d obviously incur additional risk, which comes with the need to trust the multi-sig owners.
It also adds an additional time delay which, for trading, could be a hindrance, and the more multi-sig owners we add, the greater the time delay.

I’d volunteer to continue the swapping if, and however we decide to proceed.

3 Likes

Thank you for the hard work and volunteering for the swapping.

I agree that Squads is likely the best multi-sig way to swap

Other options I can think of so far:

Serum swap in Realms (we’ll need to test this out a bit but its doable)

I’ll look for other options

2 Likes