TIP-59: Increase THALES buybacks frequency

id	Title	Status	Author	Description	Discussions to	Created
TIP-59	Increase Thales Token Buybacks	Vote Pending	MrBreakout (@mrbreakout)	This TIP proposes to update parameters in order to increase Thales token buyback frequency	https://discord.gg/8bzFdpGTrp	2022-06-16

Simple Summary

This TIP proposes to increase buyback frequency

Abstract

Increase buyback frequency

Motivation

Referring 'TIP-50: Use the sUSD from SafeBox as part of tokenomics ', Thales protocol started buying back Thales token more than 2 weeks ago with safebox wallet which accumulates protocol profits. Protocol data shows that safebox balance keeps increasing even after spending 300 sUSD to buyback Thales token everyday. Currently safebox wallet holding around 45k sUSD which means 150 daily buybacks already secured. Considering current market turmoil and discount on Thales Token Price that would be logical step to increase buyback frequency which would result in Thales Protocol to buy on minimum slippage and at a lower cost.

Moreover, Thales Protocol is showing steady increase in volume and its new products shows promising results that this increase will help to secure more funds in safebox in future.

Specification

Update variable sTickLength from "24h" to "18h"

Rationale

N/A

Test Cases

N/A

Implementation

N/A

Copyright

Copyright and related rights waived via CC0.