QIP087: Buyback Exceptions

Every week, the DAO performs buybacks for Qi with a portion of weekly revenue. These buybacks involve retrieving tokens from either vaults or markets, and then selling those tokens for Qi on the open market. Sometimes, it is not favorable to perform these buybacks as the DAO would suffer a net loss of funds.

This proposal seeks to outline the circumstances from not performing buybacks for certain portions of weekly revenue. In these cases, the buybacks would be tracked and postponed for a later time (when doing so would be favorable).

Acceptable conditions:

• Utilization rates on lending markets are too high to withdraw MAI
• Bridging fees to chains where QI LPs are deployed are higher than the buyback amount
• Gas fees are higher than the amount being bought back. This can sometimes be the case when withdrawing from yield aggregators for interest-bearing collaterals

Motivation

• Reduce loss from buybacks
• Increase operational efficiency of the DAO

Quorum Standards

The option with the most votes will be adopted.

Options

• Accept proposal
• Further discussions needed