[1IP-06] Donation of 1inch DAO Treasury Funds to support Ukraine’s humanitarian crisis

1inch DAO General Proposals
#1
  • (Yes) In favor of this proposal.
  • (No) Against this proposal.

0 voters

Summary

1inch Network was founded on core values of decentralization and open financial freedom, with a goal of improving the human condition for everyone on the planet. As one of the leading dApps in the DeFi space, it is in a unique position to extend additional assistance to people in a time of need.

With that said, this proposal seeks to donate 1 million USDC of 1inch DAO Treasury funds to support humanitarian aid within the country of Ukraine.

Abstract

Since inception just over 3 months ago, the 1inch DAO Treasury has been highly successful in growing its total capital. It has accumulated close to 7 million USDC to date from a steady income stream of swap surplus funds. This proposal aims to donate 1 million USDC of these accumulated funds to provide critical humanitarian support within Ukraine’s conflict zone.

Specifically, these funds will be converted into USDT via 1inch v4 protocol, then transferred to the official wallet of Ukraine, as outlined here. These funds will then be distributed as needed to civilians for repairing infrastructure, supporting health facilities with medicine and equipment, and supporting families with food and hygiene items.

Motivation

1inch Network is a global project which brings together extraordinary minds from all over the world. Both users and contributors alike are negatively affected by the recent war-time events unfolding this week, and it is the absolute duty of 1inch DAO to provide support to civilians within the conflict zone in every way possible.

Specification

  1. Swap 1,000,500 USDC to USDT within multi-sig on 1inch app
  2. Transfer 1,000,000 USDT from 1inch DAO Treasury multi-sig wallet to the official humanitarian wallet of Ukraine

***Due to exchange rates, a slightly higher amount of USDC is required to receive 1,000,000 USDT when swapping

  • 1inch DAO Treasury address: 0x7951c7ef839e26f63da87a42c9a87986507f1c07

  • Donation address: 0x165CD37b4C644C2921454429E7F9358d18A45e14

Rationale

This donation address has been verified by the crypto community as legitimate, and has been identified as having a direct impact on the humanitarian crisis currently unfolding in Ukraine.

Considerations

With the 1inch DAO Treasury’s historical rate of growth, the donation amount of 1 million USDC will have minimal impact on the DAO’s ability to fund future developments of 1inch Network. At the same time, this amount will have a significant impact on the humanitarian relief efforts for Ukraine and its citizens.

For accountability, a screenshot and link to the transaction will be added to this proposal once the transfer of funds is complete.

7 Likes
#2

Totally absurd & Useless . Other countries like Afghanistan , Iraq etc. also facing such conditions . How about donating more funds to them too & drain the whole DAO treasury until that ?

By Donating , you just murdering more people . Why ? This is DAO & do you really Trust these Government Organistion with the money with which god knows how many more weapons they gonna buy to increase their Armory & kill more again . You think only Russia is Bad actor here but Ukraine is also not doing better things . Beating People stranded on the borders , Parking their Armored vehicles near residential areas to cover themselves up from nukes while endagering citizens .

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Against it.

#3

Don’t say shit pls.

Russia is gangster they are destroying Ukrainian cities, kill thousands of people, don’t be stupid zombie, check what’s going.

My mom was in circle of stupid Russian soldiers up until Ukrainian army came to that place and burned those assholes. That is what’s going on.

So if you don’t want to waste money from 1inch DAO Treasury here, then please find your President and tel him to stop. Ukraine never asked Russian to come and destroy country, Russia just did that and destroying it more and more as well as its own citizens, almost 10000 Russian soldiers died in less than a week, so lets support Ukrainian army to destroy more gangsters or let’s just get rid off Putin and life will be safe for a whole world. It was totally his fault and Russian people who let him to be in his Tron for so long.

Propose your alternative to save Ukraine and world from 3rd world war or just shut up and get out of here !

3 Likes
#4

People, this is a highly emotional topic and this discussion will rapidly devolve if we don’t stay respectful. Please adhere to the forum conduct guidelines, particularly:

Criticize ideas, not people

Be respectful by all means.

I have removed the two lines from the previous comment that overtly break these rules. I didn’t want to remove the entire comment since it shows how this war has had such a deep personal impact on members of this DAO – really hope your mother made it out of that situation alright, Viktor. It sounds terrible.

In the future, I’ll be removing entire comments that contain personal insults or insults that could be construed as being directed at entire ethnic groups.

#5

Если голосование состоится, то необходимо сделать его для стейкеров сетей ETH и BSC.

#6

In order to maximize discussion participation, please also include an English translation of anything posted here. Here is my shot using google translate:

If the voting takes place, then it is necessary to do it for the stakers of the ETH and BSC networks.

I understand your concerns, but BSC voting was deprecated as the DAO treasury exists on Ethereum main-net (there were security concerns with a less secure chain being able to control the funds on a more secure chain). Changes to the governance structure itself need to go through the entire governance process now that the Stage-2 of DAO governance is in full swing. Meaning, this topic would require a stand alone thread.

So, let’s try to keep comments focused on this 1IP-06 proposal so we do not derail the conversation.

1 Like
#7

Why do lie? Were you there to claim it? At our borders, people are treated with warmth and care! None of the Ukrainian military has ever hid near civilians, except for the shrill army of the Russian Federation - terrorists.

#8

Sorry for my emotional pitch and please be sure that I agree with rules and values of 1inch DAO and thank you guys for your support! I’m 100% ok with deleting those few strings of my hateful truth :confused:
Will try to prevent such talks in a future but well I believe you guys can understand my situation and my feelings as we are all humans…

Glory to Ukraine! or Слава Україні!

3 Likes
#9

1IP-06 Phase-4 snapshot vote is now live!

Please hop over there and give this proposal a vote!