IIP-70 will fund $500k into the operations account multi-sig 0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1 but as of the time of writing, there are no stablecoin in that account, only ETH2x-FLI, which we will sell to fund the BED liquidity. All other INDEX and the stablecoin remain in the original treasury wallet 0x9467cfADC9DE245010dF95Ec6a585A506A8ad5FC
The Investment Account is not yet funded with any assets. We are moving forward with the Operations Account first rather than launching both accounts at once.
Our rationale for not providing an initial allocation for this proposal other than committing to the stablecoin asset management guidelines constraints (no more than 50% in a single asset, no more than 50% in a single strategy) was the answer may change between when we wrote the original post and when we have the stablecoin and the approved authority to invest (which may be 1-2 weeks). Given that, I expect 50% USDC, 50% DAI, and to deploy into the optimal yield opportunity within these 4 protocols for those two assets, and we will adjust course as the optimal opportunity shifts.
I would be interested in more information on your recommendation here. With the limited initial stablecoin available to invest ($500k), the current constraints and the limited number of approved protocols, I would suggest the decisions we will make should be non-controversial optimization decisions within those boundaries that will be shared with monthly financial reporting, and interested community members always have the option of tracking the transactions within the Operations Account wallet.