Hi all, I am wearing my Treasurer hat again.
We’re making a switch to our Grain Redemptions: SourceCred will now send out USDC instead of Dai for Grain Redemptions. This will take effect starting Monday.
The switch is primarily because it will be easier and cheaper for our contributors (especially non-crypto savvy people) to turn their USDC into USD using Coinbase. Coinbase doesn’t charge fees for exchanging USDC into USD and the exchange is instant. Currently, you need to set up a limit-order, and it sometimes takes a few hours for the order to fill, and there is also a fee charged by Coinbase for its services.
We will still be able to do Grain redemptions in Dai, at least for several months. If you have issues with USDC, or if you’d prefer Dai for any logistical reasons let me know and we can make it happen.
@Bex will be updating our Grain Redemption docs to reflect these changes.
PLEASE NOTE: starting Monday, you will need to send a “USDC” address from Coinbase instead of a “Dai” address. I will be doubly confirming with everyone starting on Monday, but just something to note.
I am still available to anyone who needs some handholding during any of their upcoming USDC redemptions.
Please feel free to ask any questions in the comments