Currently, 938,706 OGN are sitting in the old buyback contract, worth around $115k at the time of writing.
Old buyback contract: https://etherscan.io/address/0x77314EB392b2be47C014cde0706908b3307Ad6a9
The aim of this proposal is to jumpstart our voting power accumulation plan and convert these idle funds into CVX to have them work for the protocol and boost OUSD yield.
Supplementing the previously passed proposal on actively accumulating governance tokens at https://vote.ousd.com/#/proposal/0x8358edc685eeb7c76ad4a7c0688622547b6888a152dda319e8ce424652fc739f, it would be at the Strategist’s discretion to manage these funds accordingly to ensure optimal yield and risk/return profile.
Risks: Owning idle funds allows for a degree of insurance in the event of a compromised strategy/token. Vote-locked tokens could still be used in a similar manner, but would be constrained by the lock duration before being available as backing (16 weeks in the case of vlCVX).