Pre-snapshot treasury operations and liquidity management

Summary

A proposal to approve an IDLE buyback operation before the incoming snapshot.

Proposal

This proposal aims to approve Leagues to complete an IDLE buyback operation with the DAO's treasury funds

We advise to postpone the IDLE snapshot date originally scheduled for 2025-01-11 at 00:00 UTC by one week to 2025-01-17 at 00:00 UTC.

Specifically, the Treasury League will withdraw funds from AMM pools and conduct a buyback operation to ensure smoother execution of the migration strategy.

Implementation

1. AMM funds withdrawal: The TL multisig will remove all funds currently held in Automated Market Maker (AMM) pools on Friday, at a random time. This approach mitigates potential market manipulation risks while securing the necessary liquidity for subsequent operations.

2. Buyback operation: The liquidity retrieved from the AMM pools will be utilized to execute a buyback operation before 2025-01-17 at 00:00 UTC. The buyback aims to bolster the protocol’s inventory and treasury reserves, aligning with the objectives of the upcoming migration and enhancing the protocol’s financial robustness.