Gnosis

We suggest allocating approximately 5% of the Gnosis DAO assets, primarily SAFE, ETH, and stablecoins, to fund a $30 million buyback program. This proposal is aimed at bringing the price of GNO above the book value.

Goals

• Transfer value to long-term holders by acquiring GNO below its intrinsic value. The acquired tokens can be utilized for the growth and other initiatives of the DAO.
• Signal to the market a commitment to establishing a valuation floor for GNO that consistently exceeds its book value.
• Attract attention to the DAO’s products and community by enhancing the investment appeal of the GNO token.

Execution To maximize the efficiency and minimize the risk of frontrunning, we suggest dividing the $30 million into two equal parts, each allocated to a certain strategy:

1. $15 million for CoW-TWAP order, executed at any price below the dynamically-calculated book value over a six-month period.
2. $15 million at the full discretion of Karpatkey, enabling them to capitalize on the most advantageous opportunities.

While the framework and main details of the program are outlined in the proposal and elaborated on in the forum discussion, we believe the exact details of the asset composition, trading venues, and methods of financing buybacks (e.g., converting altcoins to ETH to be used in the program through market makers, OTC, or onchain), should be managed by Karpatkey. This delegation aims to minimize value leakage and ensure optimal execution.