Over the past few weeks, the OGP has converted 1,750,000 OSMO of treasury assets into 1,794,856.43 USDC, by conducting two Over-The-Counter trades. You can find the execution details for each trade below.
Trade 1
- Order Type: Time Weighted Average Price (TWAP)
- Order Period: 48 hours
- Volume: 875,000 OSMO
- Number of Trades: 4,181
- Average Trade Size: 209.28 OSMO
- Average Sell Price: $1.058
- Execution Fees: 4,628.97 USDC
- Net Proceeds: 921,166.38 USDC
Trade 2
- Order Type: Time Weighted Average Price (TWAP)
- Order Period: 120 hours
- Volume: 875,000 OSMO
- Number of Trades: 6,462
- Average Trade Size: 135.38 OSMO
- Average Sell Price: $1.003
- Execution Fees: 3,949.38 USDC
- Net Proceeds: 873,690.05 USDC
As a reminder, the OGP needs access to stablecoins to pay vendors, legal service providers, and US-based grantees. Stablecoins also protect the OGP from price volatility and allow it to have runway to pay off its liabilities regardless of market conditions.
We opted for the TWAP order type to minimize the impact of selling pressure on the markets. TWAPs achieve this by breaking down sale orders across multiple venues over long timeframes. We additionally split the order into two tranches, with a 24 hour gap between tranches.
We disclosed this trade post-execution (as opposed to pre-trade) to prevent market participants from front-running our trades. All future OTC trades will continue to be disclosed to the community post-execution.
