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MerlinSwapMerlinSwapby0x76Dd894269b27D2dee5286FD995A632cF174edcc0x76Dd…edcc

MIP-2: Buyback Program Strategy

Voting ended almost 2 years agoSucceeded

As previously promised, we will allocate 50% of MerlinSwap platform's revenue to repurchase corresponding tokens. This policy will be implemented starting from April. We are proposing the following options,

Option A: Allocate 50% of buyback funds for MP token repurchases, with the remainder to acquire WBTC/MBTC for enhanced MP-WBTC/MBTC liquidity

Option B: Utilize 50% of buyback funds for MP token repurchases, with the remainder directed towards the Top 10 assets by monthly trading volume to bolster MP-X liquidity

We acknowledge the community's suggestions to burn the repurchased MP tokens to induce deflation of MP. While we value this feedback, our priority as an on-chain trading hub is to ensure our liquidity pool is well-funded. This is crucial for providing traders with the lowest possible transaction friction, ultimately aiming for zero friction. Therefore, our current focus is on maintaining robust liquidity. Instead of merely burning MP tokens, permanently adding repurchased assets to the liquidity pool not only has a deflationary effect but also offers multiple additional benefits, making it a preferable strategy. However, considering the direct deflationary feelings to the community of burning $MP, we will explore this approach once our liquidity situation improves in a more proper phase.

Off-Chain Vote

Option A
4.5M esMP89%
Option B
553.64K esMP11%
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Timeline

Apr 14, 2024Proposal created
Apr 14, 2024Proposal vote started
Apr 17, 2024Proposal vote ended
Apr 17, 2024Proposal updated