AQUA DAO

Olympus DAO is where this proposal is inspired from. I am not sure on the feasibility on such a task since AQUA is a scarce token, but I do think it may be worth considering. Take this vote as either a "Will Consider" or "Do not Consider," since I am not entirely sure yet how to make this transition, but would be willing to put thought in if people see value here.

In the current state, AQUA token is backed solely by it's role as a governance token and the burn mechanism. As a long-term play, this may work, but considering if half the supply of AQUA is burned with no growth in market cap, AQUA would not even be close to reaching all time highs. The tokenomics need change.

In an effort to provide more utility to AQUA and benefit all AQUA holders, I propose to transition AQUA into a stable free floating non pegged algorithmic currency backed by reserves. I believe DeFi is headed in this direction, and Planet Finance could be one of the first to make this transition on BSC. New tokenomics like this are able to drive high apy traditionally through bond sales, control of liquidity, and premiums on token sales, but AQUA is inherently different. It is worth noting a currency like this would provide stability of a fiat currency without the centralization and supply shocks. It would also work better as a store of value and perhaps could even be adopted as a trade pair across dexes.

To make this work for AQUA (Just my first thoughts, would need a lot of work) AQUA should be partially backed by the treasury When the value of AQUA falls below the backing, the protocol should buy AQUA to drive value upwards When the value of AQUA is above the backing, the protocol can sell AQUA to stabilize the currency On top of this, normal trading fees generated by the protocol should be deposited in the treasury.

The idea is for the treasury to generate revenue and redistribute as APY to aqua stakers.

Or perhaps make a reserve currency for Planet Finance? Just my thoughts...perhaps someone smarter than me can build on this idea.