Proposal to resell buybacks as non dillutive mints

General Discussion
1

I propose that instead of burning the wMEMO from buybacks that they are used later on when the price is higher as non dillutive mints, like the ones on FTM.

So for example when the price reaches $65k the wMEMO from buybacks can be minted with a discount of up to 10% (the discount would change in order to keep the selling price at a profit) and the treasury would still get profits because they are buying them a lot cheaper and this way they can exchange these wMEMO for MIM to increase the stablecoin funds of the treasury.

The obvious benefit for the users is that they can mint/bond more wMEMO at a discount and the increase of the treasury will also boost the backing price which will help the price grow.

Of course this is a more long term benefit than burning them right now, but I think this is the best scenario for both the users and the DAO!

2 Likes
2

I agree wholeheartedly with your analysis. After reading Sifus comments on Discord, although he is non committal, he does mention this as an option, to grow the treasury, from which to increase the backing price organically, and positively effect Wmemos headline price. Win Win.
Burning now is a short term gain, only for investor`s with a short term mindset, as it will slightly increase the price of Wmemo now, but be detrimental to the treasury, as we would have spent money on assets we intend to destroy. Win Lose.

3

Im 100% positive this will happen in some sort at some point, no need to enforce rn

4

Support!!! THIS is the way

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