# TMC-1: Pipeline to sell stETH at regular intervals for DAI

**URL:** <https://research.lido.fi/t/tmc-1-pipeline-to-sell-steth-at-regular-intervals-for-dai/5059>\
**Category:** Proposals\
**Created:** [July 27, 2023, 8:19am UTC](https://research.lido.fi/t/tmc-1-pipeline-to-sell-steth-at-regular-intervals-for-dai/5059 "2023-07-27T08:19:26Z")\
**Posts on this page:** 1\
**Showing post:** 11

<div class="post-metadata">

**Author:** ![steakhouse](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/steakhouse/32/1878_2.png) [@steakhouse](https://research.lido.fi/u/steakhouse)\
**Post date:** [July 22, 2024, 7:36am UTC](https://research.lido.fi/t/tmc-1-pipeline-to-sell-steth-at-regular-intervals-for-dai/5059/11 "2024-07-22T07:36:25Z")

</div>

## Update

Stonks has been tested in production with a cumulative $11,359,597.69 in stablecoins raised from 3,300 stETH across three transactions:

- [DAI](https://etherscan.io/tx/0x1c5774880deb4d8f8d613b662ade289ce380317844d19e4c97e22018477a3811): 3,794,502.648755695781481243
- [USDT](https://etherscan.io/tx/0x940878851ba4d2269d1ade23496144688630e357d47abb42ccb90a0dc1f5e736): 3,776,103.060474
- [USDC](https://etherscan.io/tx/0xd93494e242a6fdd7adc39898bd599a95574c73dcbaa377415d38bf1ab54ade84): 3,788,991.979902

The average price impact across all three executions landed at less than 50bps, done within minutes of each other.

| | stETH | Date/Time (UTC) | 0 PI Out | Actual Out | Actual Price | 0 PI Price | PI (bps) | | ETH (Binance) | PI vs ETH | stETH vs ETH |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| DAI | 1,100 | Jul-19-2024 15:21:23 | 3,809,267 | 3,794,503 | 3,450 | 3,463 | -39 | | 3,468 | -53 | -15 |
| USDT | 1,100 | Jul-19-2024 15:28:47 | 3,787,938 | 3,776,103 | 3,433 | 3,444 | -31 | | 3,444 | -32 | -1 |
| USDC | 1,100 | Jul-19-2024 15:40:59 | 3,794,967 | 3,788,992 | 3,445 | 3,450 | -16 | | 3,457 | -36 | -20 |
| | | | | | | | | | | | |
| | **3,300** | | **11,392,172** | **11,359,598** | **3,442** | **3,452** | **-29** | | **3,456** | **-41** | **-12** |

All in all, a successful test of Stonks, a showcase of CowSwap’s versatility and power and a remarkable demonstration of stETH’s liquidity in action.

Future TMC proposals should research whether there are suitable candidates for atomically swappable yielding products corresponding to each of these stablecoins. An EasyTrack proposal could then hold stablecoins in their yielding counterparts and swap them out atomically to withdraw to grantees. This would entail redoing existing EasyTrack deployments, so much more research and consideration is necessary.

**UPDATE**

Added PI relative to ETH at Binance as a data point. All 0 PI data points are taken from TradingView (agg for stETH, Binance ETH/USD for ETH)

---

_[View the full topic](https://research.lido.fi/t/tmc-1-pipeline-to-sell-steth-at-regular-intervals-for-dai/5059)._