Buybacks
On my trip, I thought a lot about the CRE8R token and the “utility”.
After I returned, I discussed some ideas with Bee. We came up with a decent, low effort idea.
That is to use 5% (of the 15% we take) client payments to buy back CRE8R and add them to the rewards for the CRE8R-FTM Beets pool. This pool is a 80/20 pool, and can usually take single sided injections of CRE8R quite comfortably.
The consequences are that:
- we lose 5% of our yield farming power
- we provide more exit liquidity
The pros are: 1 we add buying pressure, but not a crazy amount 2. we encourage people to build LPs and add depth to this.
Choice:
- I don’t know.
- No, let’s keep it all Yield Farming.
- Yes. Start buying CRE8R with the 5% of new client payment.
- Yes, calculate the 5% of all our past payments and make a big payment. I wild guess is this ~20k
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xBc00...2536ae | 86,748 | Yes, buy it with new money |
 0x6AB8...768da8 | 69,664 | No, let's keep it all YFing |
 0x38dA...A7E195 | 62,001 | No, let's keep it all YFing |
 0xCFFE...4fC8D8 | 62,001 | No, let's keep it all YFing |
 0x76d2...6Cfb0D | 62,001 | No, let's keep it all YFing |
VOTE POWER
Proposal Status
- Fri January 28 2022, 04:00 amVoting Period Starts
- Mon January 31 2022, 04:00 amEnd Voting Period
Current Results
1-No, let's keep it all YFing
317,668.47
2-Yes, buy it with new money
184,191.486