Continuous Buy-Back & Burn Program

The idea is simple:
Buy back floor bears with the treasury on a constant basis. This will raise the floor and lead to a positive feedback loop.

I would suggest using 75%-50% of the treasury for this and buy and burn the floor on a daily basis.

This would in my opinion be the best use for the treasury as it would directly benefit all holders, similar to Binance BNB buyback and burn.

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I know this idea has been discussed before (maybe in Discord?) and I think @DefiJesus has some opinions on it.

In term of this post, 50-75% definitely seems like too large of an allocation. Im generally positive towards the idea of a portion of funds being used to buy anything at or below mint price but only if 1) its something in the 5-10% area and 2) if anything purchased is locked up in hibernation for revenue stream back into the DAO treasury.

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Respectfully, putting aside 50% to 75% of our treasury to buy and burn the floor is a very short-sighted idea. These floor tokens provide the very liquidity you are suggesting we use.

What use is synthetically boosting the floor price if we don’t have the demand to match. We are growing organically and creating REAL value through the proposals people are putting forward. When the NFT space sees the value we’re creating, the floor price will rise.

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I’m not much a fan of buying floor tokens at all but even less a fan of the idea of burning them. If we bought floor tokens at all I would hope its for functional reasons like @central_mv has mentioned.

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I think this is unsustainable, and a waste of money.

All that is going to happen is people are going to dump all there bears when the floor reaches a certain point, and then we will be spending all our DAO funds to purchase them. ( This is something only greedy flippers want so they can dump there bags and eat up our treasury)

Also we are just starting out as a DAO and its good to have floor bears available to new people so we can grow our numbers and get more bright , motivated, successful minds to join our organization.

My two cents.

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Thank you Meta, This is the wei.

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I vote no on any proposed buyback, especially just to burn them. We only have 10k votes to begin with, no need to make it any scarcer.

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I support sub .03 bear buybacks. Right now the treasury/total bears= .028 to the treasury, so buying bears under .03 would make a lot of sense if people are that weak handed

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This doesn’t seem thought out, I don’t support.

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See no proper benefits to weight in with the 75% of Honeypot expenditure. Will not support in the current state.

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Way too large of a treasury allocation. Unsure about burning bears. I like the idea of reselling them vis a vis our investment group though. Keep that floor coming up, keep those royalties pumping.

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I think some sort of buy back and burn can make sense. This will cause the bears to become a deflationary asset similar to ETH. Same concept. Also we have a ton of money in the honeypot and I think as ear holders we should see some type of rewards. I’m a long term holder because I believe in the project. We should all benefit from the pot. It gives us incentive to buy more bears and reap more rewards. Does anyone actually know how much we will get when we hibernate them anyway?

I would not support a buy-back / burn proposal. Such mechanisms are not sustainable in the long term. As already stated, it will simply lead to a sell-off once a certain threshold is reached.

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If you are here for the long-term then perhaps you ought to start thinking long-term. Both of the things you are talking about here are short-term and short-lived actions.

Burning Bears is unnecessary and frankly stupid. Hibernation will have the same effect of choking the supply and it will do it much more effectively (without permanently removing revenue generating assets from circulation).

Additionally the idea of profit distribution is likely not coming for a while, at least until we have an abundance of ETH. We want to develop a sustainable DAO remember. 247 ETH might be a lot to you as an individual but we have a lot of plans that will need funding.

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