Hey everyone, I think we should try to get more

Question

Hey everyone, I think we should try to get more

participation on the terms of the buybacks, imo is a very important decision and at the very least we should set some boundaries, here is my last comment on the proposal

If this proposal passes we should at least be explicit about what we are we going to do with the current FXS1559 buybacks (will they continue?), we have spent over 20m in buybacks. Also, since the motivation is to buy because we think FXS is undervalued we should establish how much we think a proper valuation is and only buy FXS when it is under that value (imo it should be something in the range $4-7, leaning closer to $5), we can already see that the news of this proposal have pumped the price so it'd be dumb to buy from frontrunners. Finally, since the FRAX-FXS pool is concurrently beign unlocked, we should wait at least until that happens to prevent the expected sellers to use the protocol funds as exit liquidity.

#cryptocurrency #english #frax

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20.06.2022

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Harveymilk · Accepted Answer

Harveymilk

This is good. I think with the initial vote being on if we should conduct the buyback we can do another vote after discussion on how exactly we implement it. Good points seba

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21.06.2022

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Hey everyone, I think we should try to get more

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