[SIP - 41] – Buyback 3.5 million USD worth of $SYN over 3 months

Voting ended over 1 year agoSucceeded

Summary:

The core objective of this proposal is to strengthen the protocol's economic foundation through strategic $SYN accumulation, preparing for upcoming staking mechanisms while maintaining robust treasury reserves. This proposal suggests the DAO implement an initial buyback program(BB-1) of $3.5M USD worth of $SYN over (at maximum) 3 months, starting from the time the proposal passes.

Implementation:

Consolidate 3.5 million USD worth of assets and claimed fees from all chains Synapse operates on. Uses the assets to purchase $SYN from on-chain venues with deep aggregated $SYN liquidity such as DefiLlamaswap and Cowswap, taking no longer than 3 months, starting when the proposal passes.

Reporting:

Provide regular updates with on-chain receipts to all established governance channels, ensuring transparency.

Detailed Discussion:

https://forum.synapseprotocol.com/d/2085-synapse-protocol-enhancement-treasury-optimization/9