# Diversify 1m $USDC to equivalent $LUSD

**URL:** <https://gov.silo.finance/t/diversify-1m-usdc-to-equivalent-lusd/391>\
**Category:** Snapshot Proposals\
**Created:** [August 3, 2023, 11:59am UTC](https://gov.silo.finance/t/diversify-1m-usdc-to-equivalent-lusd/391 "2023-08-03T11:59:53Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![chutoro](https://avatars.discourse-cdn.com/v4/letter/c/919ad9/32.png) [@chutoro](https://gov.silo.finance/u/chutoro)\
**Post date:** [August 3, 2023, 11:59am UTC](https://gov.silo.finance/t/diversify-1m-usdc-to-equivalent-lusd/391/1 "2023-08-03T11:59:53Z")

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Date: 3 August 2023  
Author: Chutoro

The Silo Treasury currently holds [$4.2m](https://etherscan.io/address/0xdaC29737b5FB121F11EE7f17dB0212F82b4AB009) in $USDC. While $USDC is, and likely will continue to be, one of the leading stablecoins, it remains a centrally backed asset in a so-called decentralized space.

$LUSD is a fully decentralized $ETH-backed stablecoin by [Liquity](https://www.liquity.org/). With its overcollateralized design and stability pool, we believe that it is one of the most resilient decentralized stablecoin and the best candidate for a decentralized alternative to $USDC.

This proposal recommends the swapping of 1m $USDC from the Silo Treasury into equivalent $LUSD.

This is beneficial to the SiloDAO for two reasons:

1. Minimize exposure to stablecoins that have centralization risk
2. Support decentralized stablecoin alternatives

**Voting**  
Yes - Swap 1m $USDC from the Silo Treasury into equivalent $LUSD  
No - Do not swap 1m $USDC from the Silo Treasury into equivalent $LUSD