Executed

Use $77K Dai to buy DOLA at a discount and execute our first $50K INV buy back


Proposal ID

28

Proposed

Result details
Final Votes

Quorum

5.74K of 0

Majority support

Yes

For

5.74K

Against

0

Abstain

0

Actions

Type

Address

Details

Custom

0x6B17...1d0F

approve(..)

Custom

Account

0x6B17...1d0F

Method

approve(..)

Proposal

  • In order to address the DOLA peg problem, I propose using all of our Dai revenue reserves to market-buy DOLA at a discount, creating additional demand for DOLA
  • The current INV price creates a unique opportunity to buy back INV at a low price in order to allocate tokens for future rewards. The current protocol revenue rate is $1.14M DOLA per year or $95K per month. I propose using $50K DOLA to buy back INV.

ACTIONS Approve $77K Dai to the Deployer address in order to execute DOLA and INV purchases on behalf of the DAO. All DOLA and INV proceeds will be sent back to the DAO treasury address.

Final Votes

Quorum

5.74K of 0

Majority support

Yes

For

5.74K

Against

0

Abstain

0

Final Votes
Status

Published onchain

Voting period started

Voting period ended

Proposal queued

Proposal executed