[Proposal] Future proposals to have the cost mentioned in USD (not ETH)

Proposals Pitches
1

Proposal one-liner: After the experience of witnessing the first proposal, I propose future proposals to quote the cost in USD to avoid any issues related to ETH Crypto price volatility.

Value proposition: Predictability for the ones performing the tasks and also for the DAO treasury teams

Brief explanation
ETH (the currency of the DAO Treasury as of the moment) is a volatile crypto. Its price will go up and down depending on market forces. This is not ideal. If the proposal has its value fixed in USD, at the time of payment the appropriate exchange rate would be applied to the USD to ETH conversion and payment be made in ETH. The source for the exchange rate could be regulated and trusted sources of this data such as Coinbase (https://www.coinbase.com/converter/eth/usd).

Acceptance criteria None. This has no commits to the repo. This is a new idea for the procedures in the DAO.

Time estimation None

Risk estimation None

Proposal Stakeholders Members of the DAO can discuss and put this proposal to a vote. There is no payment needed for this proposal, just agreement.

2

Totally agree, most people don’t know what ETH refers to… Ethiopia birr? E.T. phone Home? Easier in USD

3

I would be against this. There is a possibility to gain (or lose) based on the crypto price movements which can attract developers esp for low price tasks

4

I understand. Ultimately ETH would be the payment modality. So what you are mentioning would anyway be true once they get paid. In my opinion, it is beneficial for us to have a clean price : effort : output relationship. The developers can of course do with the ETH as they wish, hold it for future gains or spend it etc. What are your thoughts on this? @ian_brasil

5

I guess it depends on the amount of time between the estimate and the approval. In general I am ok with using USD but its def weird for a DAO

6

I understand what you mean…going by how Web3 bounties and general pure play DAOs are made. Hmmm. @RMacT any thoughts?

7

I wouldn’t know what is normal or not for a DAO, but i get where Ian is coming from. I only thought that those who are unfamiliar with this (like me) might not understand what ETH means in terms of remuneration, so maybe we can just reference approx value at the time of the approval?

8

This also makes sense when seen from the treasury perspective. When we deal only with ETH, the treasury keeps going up and down in value. To convert some of the treasury to a stablecoin (a popular well transacted USD stablecoin to be specific) makes imminent sense. I also see that proposals are coming in USD now. So will propose to shift some of the treasury to stablecoins.

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