This is a followup from RFC-28 and RFC-18 to explore other options for liquidity pairs other than USDC.
Motivation
In light of the recent collapses of Silicon Valley Bank, Signature Bank, and the resulting depeg of USDC, this RFC intends to inform the community that PopcornDAO should eliminate all exposure to traditional banking via digital assets in its treasury and diversify away from USDC. Given this is a potential bank-run scenario where investor confidence in USDC could go to zero, PopcornDAO will need to move very fast and potentially make a move prior to a snapshot proposal passing. PopcornDAO has been actively monitoring the situation, with Liquidity Group announcing a $3B emergency loan to SVB and now the Fed bailout, restoring short term faith in USDC. However, several other regional banks listed on Circle’s balance sheet holding their cash reserves can now be legitimately be perceived as under threat.