An ENS_DAO governance proposal has suggested liquidating 10,000 ether for USDC to secure 18-24 months of runway. Reporting by oknightcrypto.
The sale of 10,000 ETH would generate a minimum of $13 million in the USDC stablecoin via a Gnosis auction.
Since the launch of ENS in November 2021, the price of ether has slumped by 68.6% from $4,850 to $1,526. "While ENS generates protocol revenue in ETH, having so much exposure to a single volatile asset places the DAO in a vulnerable position," the proposal stated. The value of the ENS token has seen a resurgence since the turn of the year, rising from $10.73 to $13.68.
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