Summary
This proposal authorizes a treasury operation to convert stETH into USDC in order to fulfill payment for the already approved Lil Nouns Prop 355. This proposal uses a temporary 2/2 multisig to safely perform the stETH → ETH conversion and funding the Token Buyer contract for payout.
What This Proposal Does
- Transfers 10 stETH from the Lil Nouns treasury to a temporary 2/2 multisig: 0x9b40463083a70D8c2420928aCCe0E6c712db05A1
- Multisig signers (Big Trav and Satori) swap stETH → ETH
- ETH is sent to the Lil Nouns Token Buyer contract: 0x387140cD0132ff750263f08aCfdFbEc7b0Cf63c0
- Token Buyer swaps ETH → USDC to refill the existing payer contract
- Payer contract completes payment of the remaining ~$6,700 USDC
Why a Multisig Is Needed
- Swap execution must occur manually
- A multisig allows safe, transparent execution
- This avoids re-proposing or restructuring the original approval
Why 10 stETH
- Covers the remaining $6,700 obligation
- Provides buffer for price movement
- Reduces the likelihood this process needs to be repeated in near future
What This Proposal Does NOT Do
- Does not approve a new event
- Does not change the original $8,000 USDC budget
- Does not create double payment
All funds are used solely to execute an obligation already approved by governance.
Execution & Transparency
- Multisig is temporary and used only for this conversion
- All transactions are onchain
- Payer contract enforces correct payout amounts
Conclusion
This proposal enables operational execution of a passed proposal by converting stETH already held by the DAO into the approved payment currency. No new spend, no scope change, just clean follow-through.
