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OtterClamOtterClamby0x63B0fB7FE68342aFad3D63eF743DE4A74CDF462B0x63B0…462B

CIP010 - APY adjustment and buyback

Voting ended about 4 years agoSucceeded

Due to current market condition, the CLAM price may fall below the intrinsic value. Under this condition, we can' enable the bond because the bonding will decrease the backing value. To improve the protocol health, we propose performing regular buybacks with LP trading fee and farming reward. This will give CLAM buying pressure through treasury and enable bond again.

Please vote to authorize core team to:

  1. Adjust the APY to at least 180 days runway and only distribute buyback CLAM amount when CLAM market price is lower than backing per CLAM.

  2. Use the LP trading fee and farming reward from treasury to perform the buyback when the CLAM price is lower than backing per CLAM until the market price back to backing.

NOTE: the buyback will only use reward from LP, we won't use the underline assets.

Off-Chain Vote

For
9.81K 100%
Against
0 0%
Abstain
0 0%
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Timeline

Feb 01, 2022Proposal created
Feb 01, 2022Proposal vote started
Feb 02, 2022Proposal vote ended
Oct 26, 2023Proposal updated