Awesome! Learning so much here, thank you @Flash!
And yes, ETH to DAI – I edited my comment.
So, feels like the two options are:
(1) Convert ETH to DAI
On a weekly basis / when some amount of ETH from ticket sales have accumulated, do a direct exchange using Oasis[^multisig]. Exchange fees are paid, 2-of-3 wallet holders must schedule and do these transactions weekly (say, 4 or 5 times).
[^multisig]: Can a multisig wallet use Oasis or do we need to trust eg. me or @jpitts to transfer into our own wallets and then back?
DAI is held in the EthMagicians wallet.
Expenses are paid back from the DAI held in the EthMagicians wallet.
(2) Create a CDP
A CDP is created, presumably requiring some minimum amount funds from the EthMagicians wallet. It can be topped up with ticket sales over time.
@Flash – can you point us to and/or explain what creating a CDP means? Is there a minimum? Are there costs? Can it be done from a multisig wallet? Do we get interest?
When expenses are submitted, the CDP generates DAI as needed.
New sponsorships in ETH (for example) could be sent to this CDP in the future.
Convert projected costs now
Since we do have a treasury, we could choose to do (1) or (2) soon – essentially lock in that we need 3KEU for catering, and 2KEU from previous ECF sponsorship.
Closer to the event (basically, as people submit expenses), most of which would occur around the time of the event or shortly after, DAI would be transferred to the people who paid (who would be responsible for converting to fiat or holding DAI).
Right now, who will pay the caterers is an open question. I think we can ask Jerome if he / Asseth might do this. I can do this if need be as long as they will take EU with an IBAN transfer. Tomo might be able to as well. I’ll follow up on this.