This is an onchain follow-up vote to the same proposal that passed on Snapshot on April 15th. The passing of this proposal will move the funds detailed below to the Avatar safe managed by Avantgarde, MYSO, SEEDGov, Tané and PGov (the Manager safe). Please note that after convos with the Foundation, ownership of the avatar safe will instead be set to this Foundation-controlled wallet rather than the Timelock contract, citing security reasons.

TL;DR

Avantgarde Finance proposes to further support the ongoing efforts to get Gitcoin profitable by activating idle assets in the Gitcoin DAO treasury to earn yield, grow the reserves, and improve overall financial sustainability. 

As part of this proposal, Avantgarde in collaboration with MYSO will run two different strategies on behalf of the Gitcoin DAO:

• USDC Strategy: Deploying $5m USDC to Avantgarde’s DeFi Yield Vault to earn yield.
• GTC Strategy: Run an on-chain covered call strategy on GTC to earn yield without selling at depressed market prices, starting with two smaller $250k tranches.

Full details in the proposal thread on the forum.