A few months ago
@strikeperps submitted a Treasury proposal for 9M ADA to deepen platform liquidity.
The ask wasn't for a grant, it was structured as a productive deployment of Treasury capital, with the principal + realized yield returned to the Treasury after 12 months
Strike already had a functioning product, users, significant volume and revenue when the proposal was submitted. At the time, they reported $1.13B+ in cumulative volume, $3.25M+ in LP profit and $1.16M+ in protocol revenue
Had the proposal passed, today the Treasury would currently be sitting on approx $20,000 USD in profit while still retaining the underlying capital.
One of the concerns raised was that the ADA would be sold, potentially creating sell pressure.
Well, in the months since, Strike introduced the ability to deposit ADA into the platform as liquidity without selling it.
So here we are, now with the benefit of hindsight.
We said NO to one of the only teams in this ecosystem with demonstrated success and the ability to deliver results.
At the same time, we keep approving large withdrawals that constitute ADA permanently leaving the Treasury.
We are spending the Treasury instead of managing it and that (imo) will end up being a grave error for Cardano.