RE: SPS Governance Proposal - Bring DEC to PEG using Team SPS fund.

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Hey @chaoscommander , first I want to say that I'm thrilled to see you put together a very well though out proposal. I think you did a good job of laying out your arguments and were clear what you are looking to do.

I did vote FOR the proposal because I want to see this proposal make it to the final round and get voted on by the whole SPL community. I'm not sure I will support it in the final round though, in fact I would probably not vote for it for the 2 reasons stated below. I will have to think through all the implications, but I'm super happy to see the proposal.

Regarding your proposal I have several comments now, and will probably have many more thoughts when I've had time to think it through.

Things I like:

  • I like you are thinking about getting the flywheel started faster.
  • I like you are trying to grow the DAO's assets by adding to the DAO's SPS balance.
  • I like you showing the power of the DAO.

Things I don't like:

  • I don't like us voting to take the team's SPS unless they have agreed in advance.
  • I don't like burning assets of the DAO (but don't mind holding assets in the DAO to keep them for long term investment)

Overall this is great that you are doing this, and whether or not it passes, I'm impressed at the job you did! Well done!!!

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There is lots of time to discuss this. Should the team not agree with it in current form it is possible we can find a form they do agree to. My hope is that it will spark conversation. There are other ways the DAO could produce SPS to help drive DEC to peg but this is probably the most simple way to do it. I think that burning really is required though because the DAO controls SPS we can always make more DEC later by minting more SPS (obviously not to be taken lightly)

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As mentioned in Discord, I changed my vote to against it. But again much respect to you for bringing the discussion and trying to find ways to grow the DAO even if I don't want the team's SPS used to do so! :)

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