The GMC has decided to discontinue converting 20% of RPL inflows to LUSD. Future recipients will no longer have the option to choose LUSD as a payment method.
All nine members unanimously approved this proposal on December 9, 2024.
This decision was based on the following considerations:
- The GMC faced challenges in managing LUSD requests fairly. Addressing these requests would have required significantly increasing swap amounts, effectively making the GMC responsible for swaps on behalf of recipients, rather than allowing them to manage their own conversions.
- The committee opted against maintaining a diversified treasury due to potential legal complications that could arise from such an approach.