# JBP-264 - Update Treasury Management
```plain text
Author: filipv
Date: 2022-09-18
```

## Thesis

Revoke outstanding portions of [JBP-186: Launch Treasury Management](https://snapshot.org/#/jbdao.eth/proposal/0xfce85632456d2cb91cd8361c0f79707de7a4ef4608912ab0d01c9d8abb5619d5) and reallocate ETH which has already been distributed.

## Motivation

Many portions of JBP-186 are outstanding, without a clear path to execution. Ecosystem conditions have evolved significantly, meaning this original plan may no longer be as applicable.

## Specification

- Revoke [JBP-186: Launch Treasury Management](https://snapshot.org/#/jbdao.eth/proposal/0xfce85632456d2cb91cd8361c0f79707de7a4ef4608912ab0d01c9d8abb5619d5).

Multisig to:

- Swap 400 wETH for Lido stETH.

- Swap 400 wETH for Rocket Pool rETH.

- Swap 422.33 wETH for Maker DAI

This specification shall utilize wETH already in the multisig—not treasury ETH.

## Rationale

- stETH and rETH are relatively decentralized yield-bearing assets with high liquidity and volume locked.

- DAI is a relatively decentralized stablecoin with high liquidity and volume locked.

## Risks

Juicebox DAO will inherit risks inherent to stETH, rETH, DAI; as well as their communities, market fluctuations, and their smart contracts and any vulnerabilities therein. Juicebox DAO may also miss out on upside of its current portfolio (almost entirely ETH).

## Timeline

The swapping timeline and strategy shall take place at the discretion of the DAO’s multisig signers. Revoke any outstanding portions of this proposal at the earlier to take place of either the Ethereum Shanghai upgrade or January 1st, 2023.