TIP-71: Increase Thales Token Buybacks

id	Title	Status	Author	Description	Discussions to	Created
TIP-71	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	2022-07-27

Simple Summary

This TIP proposes to increase buyback frequency

Abstract

Increase buyback frequency

Motivation

Referring 'TIP-59: Increase Thales Token Buybacks'
Thales protocol increased buyback frequency from 24h to 18h which increased daily buyback amount from 300 sUSD to 400 sUSD. TIP-59 implemented more than a month ago and since then safebox amount kept increasig amidst of buybacks.

Recently 40k sUSD profits transfered from Thales Market AMM to safebox and currently it is safe to support 200 days of buyback without adding additional funds.

Moreover, Thales Protocol added a new dapp called Overtime for which sportsAMM pays %2 of each transaction to safebox.

As a summary, referring above findings and considering current value of Thales Token it is good time to increase buyback frequency and good opportunity to accumulate more Tokens for good price.

Specification

Update variable sTickLength from "18h" to "12h"

Rationale

N/A

Test Cases

N/A

Implementation

N/A

Copyright

Copyright and related rights waived via CC0.

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