Convert Community Pool USDC to AKT
Akash proposal #350: ## Summary This proposal sends the 263,775.119968 USDC held in the Akash community pool to an Overclock Labs wallet. Overclock Labs will...
Yes
97%
No
0%
Abstain
3%
Veto
0%
If passed
AI Summary
gpt-6-luna - generated 11/11/2026, 5:30:00 PM
Convert Community Pool USDC to AKT
The proposal converts 263,775.119968 USDC in the Akash community pool into AKT. Overclock Labs will execute the conversion, deducting only bridge and trading fees, and return all AKT purchased to the pool within 30 days.
- The pool sends its USDC to a new Overclock Labs wallet for this conversion.
- Overclock Labs bridges the funds to Ethereum USDC and uses them to buy AKT.
- Purchases will use a TWAP order; a cash-secured put of up to 21 days may also be used.
- Any put premium is used to buy AKT; unexercised puts lead to a TWAP purchase with the proceeds.
- The amount of AKT returned depends on market prices, and all purchased AKT is due back within 30 days.
Voter Impact
A one-time conversion shifts the pool’s existing funds from bridged USDC to AKT, the network’s native asset. Voters authorize the transfer and trading approach; the final AKT amount will depend on prices and fees.
Risk Signals
- The proposal does not specify the exact AKT amount, which depends on market prices and fees.
- Funds pass through a new wallet and rely on Overclock Labs to complete and return the conversion within 30 days.
- The cash-secured put option introduces uncertainty about execution timing and premiums.
Original Proposal Text
## Summary This proposal sends the 263,775.119968 USDC held in the Akash community pool to an Overclock Labs wallet. Overclock Labs will use the full amount to buy AKT and return all of the AKT purchased to the community pool. This is a one-time conversion of an asset the community pool already holds, not a new program or ongoing spend. Overclock Labs is acting only as the executor of the conversion. ## Background The community pool currently holds 263,775.12 USDC alongside its AKT. This USDC was earned on providers before the [BME launch](https://akash.network/roadmap/aep-76/) in March 2026. This form of USDC (bridged through Axelar) is likely to become less liquid over time as fewer exchanges and pools support it, and bridging costs to move it to USDC on Ethereum have already been rising. With the Akash Protocol migrating to Solana, there is currently no migration path available for non-AKT assets that reside in the Akash community pool. Finally, with BME live, there is no longer a use case for this type of USDC on Akash. Converting this USDC to AKT now keeps these funds in the network's native asset. ## What this proposal does 1. Sends 263,775.119968 USDC from the community pool to **akash1amj443397pxkqdqsz6vplwy054g2hqzkjm6dtg**, a new wallet Overclock Labs will use for this return. 2. Overclock Labs bridges the USDC to USDC on Ethereum, then uses the full amount to repurchase AKT, net only of bridge and trading fees. 3. AKT is purchased through a TWAP (time-weighted average price) order over a period of time to limit the impact on AKT's market price. Overclock Labs may also use a cash-secured put with a tenor of 21 days or less, and any premium earned will also be used to purchase AKT. If a put expires unexercised, Overclock Labs will purchase AKT through the TWAP with the proceeds. The amount of AKT returned depends on market prices at the time of purchase. 4. All AKT purchased is returned to the community pool within 30 days of the funds being received.