Do we have any plans on what to do with

Question

4 years locked. veMAXI (as a millionaire)

Do we have any plans on what to do with

the FXS we get from the buyback ? i guess we voted in the past to use 100% of AMO profits to fund veFXS rewards. was the buyback funded by AMO profits? personally i dont think this is what we should do with the FXS, but just wondered if the past vote will be enforced if AMO profits where used

#cryptocurrency #english #frax

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29.06.2022

6 ответов

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4 years locked. veMAXI (as a millionaire) Автор вопроса

Sam Kazemian ¤⛓️¤
There's no specific plan as of now. The FIP detail...

any personal views on how it should be used ? personally i think we could use it in a number of ways, burn some, use some to top up veFXS rewards for a year or so, maybe top up gauge rewards for the same time frame . maybe use some to top up the protocols grants fund and pay for next years audit costs.

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29.06.2022

Sam Kazemian ¤⛓️¤

4 years locked. veMAXI (as a millionaire)
any personal views on how it should be used ? per...

I think those are all good ideas. Most importantly though the market has to improve a bit and FXS valuation as result because it is sort of pointless to buy back the FXS at a low price and spend it again at a low price out into the market. Then you might as well have just used the FRAX itself to spend on whatever programs/yield you wanted.

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29.06.2022

4 years locked. veMAXI (as a millionaire) Автор вопроса

Sam Kazemian ¤⛓️¤
I think those are all good ideas. Most importantly...

im assuming it will take a year or more to complete the buyback and governance proposals, and i would expect FXS price to be much higher at that time.

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29.06.2022

M L

Sam Kazemian ¤⛓️¤
I think those are all good ideas. Most importantly...

How about using the fxs for a convertible perpetual frax bond? say we buy it at $5 we can use it to raise frax bonds to fully back to peg, convertible at $25 or so. this would lower our interest needed to finance the bonds.

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29.06.2022

James Glasscock | Reserve.org

Sam Kazemian ¤⛓️¤
I think those are all good ideas. Most importantly...

yeah this macro could be shit for a year or more. no fun to piss in the wind.

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30.06.2022

Sam Kazemian ¤⛓️¤ · Accepted Answer

Sam Kazemian ¤⛓️¤

There's no specific plan as of now. The FIP detailed that it would be held for the time being in the treasury until a later FIP.

0

29.06.2022

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Do we have any plans on what to do with

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