TIP-124 - Pause Buyback and Burn Program for Thales Token

Abstract

Pause existing Thales governance token buyback and burn program

Simple Summary

This TIP proposes to pause current buyback and burn program

Motivation

Currently, we use safebox fees to purchase 1500 sUSD worth of Thales Tokens per day and burn them later on.

Thales Token price almost did 3x price boost since we last updated BBB program. Hence amount of tokens with same budget that could be purchased from market dropped significantly.

With current macro economic conditions (lower CPI and FED possibly pausing rates) and protocol roadmap (consistent weekly protocol profits + OT Arbitrum implementation + OT vaults etc.) it seems to be a good time to halt the buyback and burn program and accumulate more safebox funds to be used elsewhere when needed.

Specification

Pause Buyback and Burn contract

Variables

N/A

Copyright

Copyright and related rights waived via CC0.