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bonedaddy/TULIP_PROPOSAL_1.md

Created March 28, 2022 08:25
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TULIP_PROPOSAL_1.md

Proposal

Start a buyback program with generated revenue, starting when this proposal passes. The DAO will be voting on the method of buyback which will be outlined below. Bought back $TULIP will be distributed to stakers.

Method 1:

  • Buy back $TULIP using 50% of revenue generated from either the highest TVL vault or the highest APY vault on Tulip.
  • Stakers will decide which vault to rotate to each month with a governance vote.

Method 2:

  • Buy back $TULIP using 10% of revenue generated from the protocol.

Notes

  • Percentage of revenue used can be changed via a future governance vote. Note that this buy back program does not involve the existing funds in treasury.
  • Team will not be staking our tokens at this stage.
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