Treasury Update: DCA #2 — GLMR → USDC via Hydration
This batch call initiates the second six-month GLMR → USDC DCA, extending the Treasury’s strategy of systematically converting GLMR inflows into stablecoins to support stable-denominated payouts. The goal remains straightforward: Remove discretionary timing from conversions, have predictable USD-denominated payouts for proposing parties, and make treasury cash flows predictable rather than reactive. Instead of trying to time markets, the Treasury continues to favour a fixed, repeatable process that reduces balance-sheet volatility and simplifies long-term planning.
DCA #1
DCA #1 is effectively complete. It accumulated 92,946.10 USDC, which will be transferred back to Moonbeam as part of this batch, and left 468,954.43 GLMR on Hydration after execution stopped when the lower GLMR price boundary was reached. That same boundary is now lowered to $0.001 in this call, ensuring the new DCA continues regardless of market conditions, as the Treasury must perform payouts either way and does so more effectively and more predictable in stablecoins. In addition, 430,000 GLMR was previously withdrawn from the Omnipool LP position to consolidate balances ahead of the new schedule.
DCA #2
For DCA #2, the Treasury is committing 100% of its projected GLMR inflows over the next six months. At roughly 40,500 GLMR of inflows per day, this corresponds to approximately 7.29M GLMR over 180 days. With around 14.8M GLMR currently held by the Treasury on Moonbeam, this commitment is fully covered upfront, already. Accounting for the ~469k GLMR already on Hydration, the Treasury will send ~6.82M GLMR, rounded up to 6.9M GLMR for operational simplicity. The DCA will execute roughly every 14,400 blocks (~24 hours at 2s blocks), swapping ~38,300 GLMR for USDC per day.
Implementation Details and Batch Call
One implementation detail is worth highlighting. The DCA is configured without a fixed maximum sell amount on Hydration. Large GLMR transfers will trigger Hydration’s circuit breaker mechanism, temporarily withholding liquidity (currently up to ~2.6M GLMR for up to 24 hours). Setting a hard maximum risks failed executions when the full balance is not immediately available. Allowing the DCA to run until funds are exhausted keeps the process robust and allows it to continue seamlessly if topped up later, without additional scheduling complexity.
The batch call also includes required HRMP channel management actions and is submitted atomically (i.e. all calls in the batch execute successfully, or if any one call fails, everything reverts – no partial execution) via utility.batchAll. Full calldata and the associated preimage are provided for transparency, and the transaction has been tested end-to-end using Chopsticks to validate expected behavior prior to enactment by our XCM magician @AlbertoV19.
Encoded calldata:
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
Preimage hash:
0xfd5d299bf5a2ffb3381ba599a10c0fc59eb6fa2347dcf7a2ac5ca4e563aa2f22
Closing Note
This batch delivers the first USDC over to the Moonbeam Treasury on Moonbeam. Since Runtime Upgrade 3700, the network natively supports stablecoin treasury payouts, making this the final step prior to paying contributors and service providers directly in stables! 
Beyond the mechanics, DCA #2 reflects a continued focus on operational reliability and measured progress — building treasury infrastructure that works quietly and predictably in the background while governance focuses on higher-level decisions.
Best regards
Yaron on behalf of the @TreasuryCouncil