As all the Apes are well aware… On 7th July this year, voting closed for the proposed assets and weighting of Macro Hedge ETP.
And your verdict is… 🤔
86.57% voted ‘Agree’ while 13.43% voted ‘Disagree’.
Over 50 million tokens were cast (50.18 million to be exact) in votes by 166 individual addresses, which is over 15% more tokens than the last vote- 6.49 million more tokens were cast.
With 43.44 million WSB selecting ‘agree’ and 6.74 million WSB selecting ‘disagree’.👉 You can view the proposal here.
This ETP will be passively-managed by investing primarily in fiat-linked crypto stable coins, tokenized commodities and crypto native assets that are expected to benefit, either directly or indirectly, from rising prices (inflation). Due to macro factors and the devaluing of USD it has now been decided to hedge our investments against more stable currencies and assets.
Since Gold should have a higher weighting, it was reduced from the FIAT stablecoins. Initial proposal was that the WSB Macro Hedge ETP will hold the following assets and weightings:
There will be no performance fee, but a swap fee of 0.025% was implemented. This can change in the future as per ape votes.
Here is how it was achieved:
- Apes saw the need for a self-custody solution to park their wealth during turbulent times where even the USD purchasing power was now in question due to inflation.
- The vote was brought to https://gov.wsbdapp.com/ where the users had an open discussion about an inflation-hedge ETP.
- Based on this discussion we put up a final proposal here.
- Users were able to vote (agree or disagree) with tokens they hold or are in one of our farming pools. This was a 96 hour vote starting UTC 05:00 July 3rd, ending 05:00 July 7th with a snapshot block number 8,822,710
This process demonstrates our focus on community interaction. With this ETP we put together something truly revolutionary — leaving a lot of naysayers and TradFi dinosaurs behind.
We’ve said it before and we’ll say it again: Getting a nice yield is great.But sometimes, there’s no better feeling than putting the skeptics in their place. And we’re achieving it all with our own ape community, showing everyone how markets should be managed.
With this smart investment strategy, we will be able to mitigate or eliminate downside systemic risk by referencing a portfolio of assets based on the interpretation and prediction of large-scale events related to macro factors such as economic models, market conditions, historical trends, and international relations (e.g., geo-political, regulatory and cross-border trade).
We plan to integrate more features for the DAO and new ways to vote. But we’re happy with the current result, too. We will continuously put our best foot forward to keep improving and exceeding our own APExpectations.
We’ll announce our next vote shortly Thanks to the users who participated in the discussion on http://gov.wsbdapp.com/. You APES are truly reshaping the financial market by bringing such innovative ideas forward.
And of course, we’ll update the community when this Inflation Hedge ETP launches.
APES. TOGETHER. STRONG. (and safer by hedging against expected macro trends)