CVX is dumping pretty hard. should we use this opportunity to buy up a chunk of CURVE voting power and add to our commanding position?
i propose the following.
we use some of the treasury assets and / or FRAX collateral to buy more CVX.
1, buy $25m of CVX
2, do nothing.
I think this is a good opportunity, question remains where do we get the funds from, my first choices would be to withdraw some of the USDC deployed in Fantom Curve that currently has >100m USDC, or use the funds in the Metapool locker, which consists of ~22m 3crv+FEI farming TRIBE at ~14% APR. Since the Metpool locker funds are working, I’d prefer to use the Fantom funds. I also think that we should try to speed up this proposal in case CVX increases in price.
your welcome to make a proposal if you think thats the best option for FRAX
cant really speed it up, rules is rules and i dont think this is an emergency so we should not change the way we choose things.
this thread will be up for a few days and i will then put it up for a vote.
the link to the governance page is broken on the FRAX ui, so almost no one is voting for anything. hence we just voted for a partnership based on 1 wallets vote and why a vote to change the governance only has 40k votes after 4 days.
you may like to see the proposal i just put up for vote, where FXS would be able to choose what assets the protocol adds to its holdings each month.
if you feel we should be buying more TOKE, then you could vote to buy more TOKE if my proposal passes its vote.
I think this is a VERY GOOD opportunity
=> buy $25m of CVX
I also think that we should aim at a max of $25 per CVX
1,000,000 + cvx would be nice.
we need to vote (and execute) fast
as a DAO we have rules, and i feel we should stick to them… but on the other side we also have a proposal to have a $25m war chest that could make a quick acquisition at short notice if it is voted in.
bit shocked that no one has said to add $50m or $100m as an option
I agree
i’m not opposed to buying 50m, but i’d prefer if we can do it in 2 legs, if the first $25m go smooth then we proceed for the following $25m.
seems yearn are trying to do the same thing , so i put the vote up a day early.
wonderland treasury should be dissolved and vote will pass on 31st, they have a ton of CVX that they need to dissolve, if we act fast we can get it OTCed
they have around 800k CVX, we could buy it all and still have change left over
Hopefully half $TOKE half CVX, it’s time to increase toke for the upcoming Toke War
its very clearly just CVX.
i understand people want to buy more TOKE, and they can have the option to 3x our TOKE holdings buy voting for this > Snapshot
and then voting for TOKE monthly . right now we hold about $1.5m of TOKE so we could more then double our holdings if it wins 1 month