This proposal, if approved, will transfer 200,000 HOLLAR from the Hydration Treasury to 16RJh4z1eUHpC3ntre9H2noKGKxihkSqog9PBt9bRbAnj4RE - a 3/5 multisig consisting of ex-Hydration Council members lolmcshizz, Leemo, Giraffe, Crane & Jose.
Through referendum #189 (https://hydration.subsquare.io/democracy/referenda/189) HDX holders voted to accumulate 100,000 HOLLAR equivalent of PAXG and 100,000 HOLLAR equivalent of ENA through OTC. By executing this through a multisig instead of directly from governance action, we can ensure that the price executed is as close to market price as possible - as waiting multiple days to place an OTC order could result in paying far too much for those assets, or failing to accumulate them at all.
The funds will be used as follows:
100,000 HOLLAR total through OTC to accumulate PAXG100,000 HOLLAR total through OTC to accumulate ENA
The multisig signers will attempt to place OTC orders for PAXG & ENA between 0 - 2% of market spot price in order to offer a small premium to the order fillers, whilst achieving the best price for Hydration DAO.
Once the OTC orders are completed, and trade has subsequently started in the Omnipool, a DCA will be scheduled for the remaining 100,000 HOLLAR of each of the assets, before adding that also as liquidity to the Omnipool.