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Fortress DAOFortress DAOby0xf055691BDc5E6C525F6eD4C9D3e437a73cB301570xf055…0157

FORT-0005: Grant the Fortress treasury the ability to perform buybacks

Voting ended about 4 years agoSucceeded

The Fortress team proposes to allow the usage of treasury funds to perform buybacks of the FORT token on the open market.

Buybacks can induce additional bonding to grow the treasury, recouping the cost of the buyback and increasing RFV backing per FORT.

The Fortress team does not believe that committing to specific buyback times, dates, or strategies is wise. Doing so exposes the Fortress to the risk of being frontrun. The Fortress DAO team will therefore perform buybacks at its discretion. Completed buybacks will be announced within 24 hours.

If this proposal passes, it does not obligate the Fortress team to engage in any buybacks and should not be interpreted as a signal that a buyback will occur at any point in time.

Off-Chain Vote

Approve
51.43K 95.7%
Reject
2.28K 4.3%
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Timeline

Nov 26, 2021Proposal created
Nov 26, 2021Proposal vote started
Nov 27, 2021Proposal vote ended
Oct 26, 2023Proposal updated