RIP #27 - Quarterly Redemptions - Updated

This is an updated version of the quarterly redemption proposal, to clarify some of the details and answer some of the questions regarding the process.

This is a proposal to implement quarterly redemptions based on the liquid assets of the protocol, similar to the mechanism wonderland has in place.

The quarterly redemptions would be implemented as follows:

• Approximately 1 week prior to the start of the quarter, the liquid backing per RUG, based on all liquid treasury assets, will be calculated and announced.

• On the first day of the quarter, the redemption contract will be set to the calculated backing, loaded with $250K of stablecoins from the treasury, and go live for 7 days. - If the contract approaches depletion of the stablecoins, it will be refilled. For every time it gets refilled, a one day extension will be added onto the duration of the redemption.

• After 7 days + any added extensions, the redemption will close.

• Entire process will be repeated each quarter.

The first quarterly redemption will take place on April 1st for Q2 of 2023.

NOTE, these are redemptions for LIQUID backing, this does not include illiquid/locked assets like NFTs or locked staking tokens.

The voting options for this proposal are as follows:

1. Implement quarterly redemptions at liquid backing
2. Do not implement quarterly redemptions