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MarginswapMarginswapby0x16F3Fc1E4BA9d70f47387b902fa5d21020b5C6B50x16F3…C6B5

Should we implement strategies to support token buybacks?

Voting ended about 5 years agoSucceeded

The contribution event to ensure marginswap is successful ended magically. Although I expected it, I still can’t believe it and so I want to say, thank you very much for believing in me and my team.

Since MFI listed on Uniswap, we've seen it go below presale price a couple of times, and as of the time of creating this proposal, MFI is below presale. The team currently controls almost $600,000 from the presale and these funds are not needed until marginswap beta goes live in 3-5 weeks. For this reason, I am asking what the community thinks about implementing buyback strategies without actually spending these funds.

We can implement 2 relatively safe yield strategies via:

  1. Pooling liquidity for usdt/usdc on wanchain Uniswap like AMM
  2. Mint mstable mUSD and supply in mstable save (currently apr is 20%), thereby supporting the mstable ecosystem (their gov token MTA is one of the first tokens we will be listing).

These are relatively safe and simple strategies that I personally believe can be implemented.

The yield from these strategies ‘can be used to buy back MFI and token holders can decide in another vote on what to do with these tokens (incentivize MFI uniswap liquidity for example).

The upside to doing this are: Potentially, good for the price of MFI Improves token holder confidence Enriches the protocol treasury when the token price is higher after launch.

Downside: Security risk (Though I have several months of experience with this strategy

If this proposal passes, I will report to the community weekly on how many tokens we acquired in the last 7 days.

How do you vote?

Off-Chain Vote

Yes
421.4K 49.8%
No
425.54K 50.2%
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Timeline

Feb 05, 2021Proposal created
Feb 05, 2021Proposal vote started
Feb 09, 2021Proposal vote ended
Oct 26, 2023Proposal updated