Pass Buy Back Program

In this proposal, I would like to allocate 25% of the 10% the DAO receives every month to purchase MTD passes. This will provide a way for the DAO to increase it’s yield for the long term.

The passes purchased through this program will not be in circulation and will not count for proposal votes. The amount of votes needed for quorum will decrease by 1 for every 3 passes purchased through this program (no rounding up). This will only apply if the DAO own more than 5% of the total supply of MTD

Passes will be acquired by placing a bid on non-trait passes. The price of the bid will either be 90% of the current floor or 90% of the 7 day floor average (whichever one is lower).