OTC Trade - 05/06/22
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OTC Trade - 05/06/22

Quick update from the Grants team.

We have a completed a second Over-The-Counter trade to convert DYDX into the last of USDC needed for existing funding comittments. The team converted 125,000 DYDX to 438,342 USDC. Below are details on the execution:

Order Type: Time Weighted Average Price (ā€TWAPā€)

Order Period: 05/04/2022 12:25 PM ET - 05/06/2022 12:25 PM ET (48 hours)

Volume: 125,000 DYDX

Price: $3.50673

Proceeds: 438,341.51 USDC

On this occasion, the team opted for a 48hour TWAP to impose even less impact on the market given the already choppy conditions. As previously mentioned, we will always be disclosing trades post-execution to prevent any front-running of our executions.

This should be the last of our conversion, however, with sufficient USDC funding to cover all committed payables.

All the best! šŸ¦”