Initializing a Proposal Using Poseidon [RFC]
Last updated
Last updated
1.) Propose treasury use USDC to buy back and burn $PSY tokens at a target price.
2.) Trade 100 scnSOL for USDC then swap the USDC for $PSY.
The possibilities are endless with how treasury funds can be utilized. We encourage all community members to become active and help drive the success of the PsyFi DAO!
1.) Visit the treasury accounts of the DO. Here is the link to all of the PsyFi DAO owned treasury accounts: https://realms.today/dao/PSY/treasury
2.) Next, select the treasury account which you want to manage.
3.) Click the “Investments” button located in “Current/Available Investments” section. You will now able to see any available investment integrations here including the ability to trade tokens directly through Open Book's Order book via Poseidon! Click “Propose” to open Poseidon.
4.) Here you will input the required parameters into the fields:
Destination Token: The token the DAO wants in exchange for their current assets/
Amount: The amount of the source asset the DAO wants to trade with.
Trade Expiration: The time when Poseidon will block trade execution and allow assets to be returned to the DAO.
Limit Price: The minimum conversation price between the two assets.
5.) To finish click “Propose”!
Note: You will need to hold a certain amount of PSY tokens in order to make proposals which you can check in the Params section of Realms. Parameters for each treasury account are displayed here and varies from each account.
