Im an idiot, and I dont have all the context. But if people think selling the ether is a good idea, a snapshot vote could be written something like this:
Should Lido DAO convert 20,000 ether to a USD stablecoin?
Answer 1: Yes
Answer 2: No
Context
We need to secure 2 years of runway. We estimate that to be $29 million dollars. Our largest liabilities are in USD equivalents and LDO.
We cannot reasonably predict the future price of LDO and ETH. These are the two largest assets in our treasury. Because team costs are priced in LDO and USD, we need to secure our future. We propose selling treasury ether raised from a prior round to do this.
If the yes vote wins, we will execute the sale within 5 days of snapshot close. It is at the team’s discretion to get the best price. The team may use OTC, a DEX, or a CEX, at their discretion.
Personal Notes
Vitalik showed us how important it is to have staking decentralized, when he talked about protocols self limiting. It was important that we choose not to do this (as we did), as other more centralized services could take over our top spot and use their power in a harmful way.
I believe that one of the ways we should achieve this decentralization is by creating a supply crunch in ethereums future governance token, LDO, and making sure it is too expensive for a single player to hold a majority of LDO. To do so, everyone needs to play by the same rules and acquire LDO in the open market. At a $1.5b FDV, it is still possible for a single player to take over. At $1T it is much harder.
As it applies to selling to funds, I am happy to sell my LDO to funds at $15 per LDO; if we reach 66% of all staked ether, I would be happy to sell at $150 per LDO.