Close sale function on $LEX contract and burn remainder? 🔥

Intro 🛣️

Currently 2300 $LEX is programmed to be claimable by sending ETH to the $LEX address or calling the purchase() function. This saleRate is set to 1000 $LEX per ETH. (The $LEX dApp also provides a simple interface to accomplish a similar purchase for lump 100 $LEX upon signing a pop-up BUY button TX.) As there is a divergence in how $LEX is priced using this native function and market contracts like Uniswap, it seems helpful for now to use these nimbler markets to determine a dynamic rate and allow easy swap between $LEX and other tokens at such derived rate. In the event that this does not satisfy LexDAO objectives, such $LEX saleRate can be reinstated using $LEX governance functions. To effect a 'close and burn' change, the Moloch DAO with manager permissions over $LEX would process a vote (LexDAO Collective) calling the updateSale function with the following data:

0x64629ff7000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000007caee97613e670000000000000000000000000000000000000000000000000000000000000000000010000000000000000000000000000000000000000000000000000000000000000

(This snapshot vote serves to signal on this contract update. $LEX can be staked into such COLLECTIVE DAO vote by calling the stokeTokenForShares() function.)

Background of $LEX faucets and Guild utility 🚰

$LEX can be claimed by using LexDAO contracts like LexToken factory and LexLocker, serves as bounty currency for upgrading LexDAO contracts / tip for participating in community activities, and further grants special chat / pub. access as well as governance rights to cast snap votes on LexDAO agenda and manage certain LexDAO contracts on-chain. More simply, it looks like a community token paired to the soul of the LexDAO legal engineering guild.

Markets 🧮

Alternatively, $LEX can be purchased on the open market using decentralized exchanges like Uniswap to gain access more immediately, and further provides a way to exit into other digital tokens and native ETH to deploy contracts and manage DAO participation fees. As certain $LEX-locked publications reference the $LEX Uniswap exchange, and there might be ongoing needs to reconcile this "dynamic" price with the price set in the $LEX contract native exchange for ETH, it seems worthwhile considering and voting and effecting a decision on whether to maintain both markets, or simply defer to DEX market mechanisms for $LEX grants.