Title: Create Stablecoin Allocation
Author: filipv & Mr. Goldstein
Date: 2022-06-26

Thesis

Re-purpose the the 1,000 ETH that were taken out of the multisig for staking to purchase DAI over the next 8 funding cycles.

Motivation

A stablecoin position will make Juicebox DAO more resilient to ETH price fluctuations and increase the longevity of the DAO.

Juicebox DAO will inherit risks to DAI–smart contract risk, pricing errors, market irrationality, oracle attacks, user abandonment, and risks to Maker DAO are all a factor.
Missing out on some potential upside of ETH. If ETH goes to $10k, Juicebox DAO will miss out.
Missing out on ETH yield due to the temporary elimination of staking

Utilize the 1,000 ETH that were previously allocated to ETH staking to purchase DAI
Each funding cycle, queue a 125 ETH 0x limit order at 105% of the 5-day ETH-DAI moving average with a 7-day expiry on matcha. Keep queuing these orders every week if ETH allocated to this position is unspent, for up to 12 funding cycles from this proposal passing.
Every other funding cycle, exchange 50% of the DAI that the DAO has accumulated over the last two funding cycles for Compound CDAI.

DCA strategy is more resistant to market fluctuations.
Limit orders reduce risk from short-term volatility.
CDAI is conservative but more reliable, which is important for a treasury of this size.