I think mechanism capital wants to join ftx to buy

Question

Frax Finance

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I think mechanism capital wants to join ftx to buy

Robin hood, that is why it sold $FXS low https://youtu.be/0ynPUXRPbO8?t=2985

#cryptocurrency #english #frax

0

08.06.2022

11 ответов

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Kevin Glunt

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MechanismCapital sold their FXS position?

@samkazemian are you able to talk about their position like amount sold and remaining balance?

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08.06.2022

Sam Kazemian ¤⛓️¤

I don't know their position any more than anyone else can see on their publicly marked addresses. All I know is they have been farmers+accumulators for a while. I am very disappointed they sold though, especially during a hard time on the community. It's also important to note that the majority of their tokens were from buying/farming in the open market throughout the months since our launch in 2020 so it wasn't mainly from their original investment. They sold what they had farmed+bought overall. This is why I think it is a good time to propose FIP 77 because I believe FXS is quite undervalued at this point.

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08.06.2022

Ebro

Sam Kazemian ¤⛓️¤
I don't know their position any more than anyone e...

Where would the 20m frax come from in the proposal?

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08.06.2022

Sam Kazemian ¤⛓️¤

Ebro
Where would the 20m frax come from in the proposal...

It can come from two source (or a combination thereof). It can either come from protocol profits directly instead of keeping anything on the balance sheet or it can be pure seigniorage (which would lower the CR a couple of %).

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08.06.2022

A A

Sam Kazemian ¤⛓️¤
I don't know their position any more than anyone e...

Thanks, Sam

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08.06.2022

Sam Kazemian ¤⛓️¤

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Thanks, Sam

Even though FRAX would be safe from bankruns at a CR of a couple % lower, I would still recommend sourcing the buyback from protocol profits rather than seigniorage even though it is safe to do so. We can save the seigniorage later if necessary.

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08.06.2022

Kevin Glunt

Sam Kazemian ¤⛓️¤
Even though FRAX would be safe from bankruns at a ...

Let’s do both and buy $40MM. Go big or go home. 😁

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08.06.2022

Kore

Sam Kazemian ¤⛓️¤
Even though FRAX would be safe from bankruns at a ...

Where are Protocol profits now staying? Any wallet or api to check?

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08.06.2022