# Abstract
Establish a method of regularly converting ENS protocol revenue into a 2 year runway of working capital.

# Specification
As of November 21, 2022, the [DAO treasury](https://datastudio.google.com/u/0/reporting/8785928a-71d5-4b17-9fea-fe1c937b064f/page/p_s6xyf19opc?s=gVhHFKgou0c) has 2.5m in stables. At current burn rate, this is ~3 months of runway. This is concerning as it's important that working capital is secured to avoid having to halt operations.

Future burn rate is estimated as follows:
DAO Operations: $3m/yr
ENS Labs: $6m/yr

This proposal puts forward a vote to enact the following strategy:

**Quarterly:**
> [Registrar Contract:](https://etherscan.io/address/0x283af0b28c62c092c9727f1ee09c02ca627eb7f5) Swap (x)ETH to (y)USDC
Where: y = 18000000 - [ENS DAO Wallet](https://etherscan.io/address/0xfe89cc7abb2c4183683ab71653c4cdc9b02d44b7):SUM(USDC)
Then: Send [Registrar Contract:](https://etherscan.io/address/0x283af0b28c62c092c9727f1ee09c02ca627eb7f5)USDC to [ENS DAO Wallet](https://etherscan.io/address/0xfe89cc7abb2c4183683ab71653c4cdc9b02d44b7)

# Submission Summary
Establish a quarterly ETH -> USDC swap to top the treasury up to 18,000,000 USDC to regularly esablish 2 years of runway.