GSR Warns DAO Treasury Concentration Creates a Negative Feedback Loop

TLDR: GSR says native-token concentration exposes DAO treasuries when prices, revenue and activity fall. Projects often seek hedges after selloffs, when higher volatility makes protection more expensive. Collars can protect a token floor by funding the hedge through a sold call, not stablecoin reserves. Separating operating reserves from long-term holdings can help DAOs preserve runway [...]

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