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Stacker Ventures Fund 1Stacker Ventures Fund 1by0x1FEC6e04bC5Db1bcBB29682DC02F2530Ff9B55590x1FEC…5559

Should Fund 1 single-asset market make on Uni v3 to buy back and burn tokens at a discount?

Voting ended almost 5 years agoSucceeded

Over the course of a year, it is likely that SVC001s trade at a discount from time to time (they are currently at a discount from NAV).

I propose that Fund 1 engage in single-asset market making on Uniswap v3, starting with 200 ETH, to buy tokens at greater than or equal to a 20% discount from underlying value of SVC001s based on the remaining undeployed ETH in the fund. These tokens would then be burned. In addition, if sufficient liquidity is on Sushiswap for a similar discount, ETH may be used at the discretion of the DAO Council to buy back those tokens as well.

This would allow significant holders with exit liquidity while benefiting other SVC001 holders whose share of both remaining ETH in the fund and other investments would increase. It also allows the fund to provide liquidity without reducing diversification, which would occur if the fund provided ETH/SVC001 liquidity (i.e. on Sushiswap).

To simplify the process, decisions within the above constraints would be deferred to the DAO Council, who shall provide reports any time a transaction (or series of transactions) is made.

Off-Chain Vote

Yes
18.72K 100%
No
0 0%
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Timeline

Jun 01, 2021Proposal created
Jun 01, 2021Proposal vote started
Jun 03, 2021Proposal vote ended
Oct 26, 2023Proposal updated