LIP 009 - OTC Authorization Amendment

By Valiander (Foundation Director) Copyright and related rights waived via CC0.

Disclosure

As a Foundation Director, I have a duty under the Lunar DAO Charter to manage Lunar Foundation operations to the best of my ability to maximize the benefit to Lunar DAO.

Abstract

The Lunar Foundation proposes an amendment to LIP #8 as it pertains to price calculations.

Motivation

The Lunar Foundation wishes to correct the language in the previous LIP to reflect the appropriate way to calculate the price of OTC transactions and give the Foundation leeway to ask for and/or accept other offers.

Proposed Changes

1. Adjust Item #1 under "Proposed Changes" to read as follows: "Allow the Lunar Foundation to conduct OTC deals at their discretion.

   1. Pricing may be determined by entering the total amount of the transaction into PancakeSwap (or equivalent) and using the trading UI to determine the Average Price per Token of the potential trade.

   2. If different price is offered by either party, the above method should be used to determine if the offered price is reasonable.

Pros

1. As the previous methodology was nowhere near correct, this approach offers a much more reasonable pricing structure that won't totally drain the Treasury.

Cons

None

Steps to Implement

None

Timeline

Upon acceptance, this LIP would be implemented with immediate effect.

Associated Costs

None