Thank you for clarifying. Then I’m fully convinced this is a great move!
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Great move! Let’s go go go!
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Supportive of the move. Good signal to the broader market, as you mentioned.
As @GODLY mentioned, as a next step, I think we should think of a way to put this balance (and the DAO Treasury balance more broadly) to better use. Given we did away with T/WGs (except J&J), these funds are sitting idly, when they could be generating value for the ecosystem.
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I like the idea. I am curious if this will be done all in one swap or will it be done in increments over an extended period of time?
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appreciate the reply, but this isn’t true. USDC is also backed by short term treasuries in addition to actual cash in the collateral mix.
and the treasury will not be spent without the DAO’s input, this is just an operational management move!
probably all at once - we’ll be able to withdraw and then mint the JUPUSD natively, then put it right back.
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yeah def agreed that we should have the treasury more actively used (including the JUP tbh), but first things first.
at some point we could have an investment committee or something that is focused on that!
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Seems like a no brainer to me. I converted all of my USDC to JUPUSD so I would expect nothing less from Jupiter Exchange.
Just use Jupiter!
Can JUPDAO lend the JUPUSD through JUP lending as it sits unused?
Even if some of the JUPUSD stayed put it would make sense to earn yield on at least a portion of the funds.
Don’t think this is a bad idea and all reasons given above are sensible and good enough. I will support this. It also reassures the community that Jup is thinking long term and putting their money where their mouth is.
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Based on this discussion, we - the DAO Treasury signers have excuted the following treasury moves.
We have moved ~8.1m USDC from the DAO Treasury to the JupUSD multisig, in preparation of minting the treasury into JupUSD.
The JupUSD multisig then moved the tokens to the mint wallet.
After moving the funds into the mint wallet, all the tokens were subsequently minted into JupUSD, and transferred back to the JupUSD multisig.
Transaction 5HqXJHXK8CZEfSTMpcmid7hia82NdFgEqWAcRyZfGeikUCgdaeHRoJtBaoRfNCnyMQWSk5g2dnhknuYjFKJZYJ8Q
And finally, after completing the mint process of the DAO treasury’s USDC balance into JupUSD, the tokens were transferred back to the DAO Treasury.
Previous balance: 8,115,863.944299 USDC
New balance: 8,115,863.944299 JupUSD
During this process we also supplemented 4bps of the total size in order to offset the minting fees.
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Sounds like a good move 
Putting the DAO treasury in JupUSD shows real trust in the product.
Any thoughts on using JUPlend to yield a profit with some of the DAO holdings?
It is clearly the logical choice to benefit the dao in its journey to grow the account.