First of all, I want to say great discussion and really great commentary. I’m wondering if we should wait at least another 2-3 days to see if anyone else has any modifications/feedback?
As for my own overall views:
1.) I think we should try to keep it simple and clear so that when this gets translated for a formal vote on Snapshot and if it should pass, then it is actionable and clear exactly what parameters there are. I agree with the general idea that the TWAMMs should be sped up as the price ever goes down to $4, $3, $2. And in general I also agree with the other direction that we should slow down/stop the TWAMMs in amount+duration as the price rises toward $7, $8, $9, $10+.
2.) There should still be some discretion in terms of overall duration for how long to use the remaining $20m allotment. For example, it’s unknown how long the market will remain bearish overall and prices depressed. It would be unwise to spend all the allotment extremely quickly and then sit idly by as FXS continues to trade at depressed prices (assuming a long bear market which isn’t a certainty). Simply put, the protocol’s buyback allotment is finite and we don’t have infinite “dry powder.” The duration of macro headwinds is finite as well but the length of time it will remain is not known.
Overall, I think this is a pretty good proposal with the intent to maximize value long term for FXS holders at an improved rate than the previous FIP-77 loose parameters.