Hey Alex thanks for the proposal. We discussed this specific situation during the original Granda Mento proposal, You can see me probing about this scenario very specifically here:
Question: Discussion on Granda Mento: Enabling Larger Stablecoin Mints - #2 by thezviad
Consensus: Discussion on Granda Mento: Enabling Larger Stablecoin Mints - #40 by trevor
My understanding was that we all came to an unanimous agreement that Granda Mento’s purpose is to enable large scale conversions for USD → cUSD and for EUR → cEUR. NOT for liquidating existing CELO to cXXX assets.
These proposals are exactly what we agreed wouldn’t be done using Granda Mento. I can’t in good faith approve/support this proposal. If this proposal does indeed pass, I should probably be taken off from the Granda Mento Multisig, since I would not have supported original Granda Mento proposal in the first place, if it was going to be used for liquidating existing CELO for cXXX assets.
EDIT: Just to add to this, the specific price of conversion is irrelevant from my point of view. There is no valid price in my mind for a proposal like this, as I discussed at length in the original Granda Mento discussion thread.