[ARCHIVED] Buyback and Burn $BIT

Agree, and please more launchpool with hight APY … we have giant treasury fund and useless…


Buybacks make good sense when there is liquid capital (cash/cypto) held, as is a more efficient use of that of capital, then stagnation …are there no better opportunities available for BitDAO’s liquid capital today than buybacks?

Besides the above point (as mentioned in @deefs post on tokens sent to the contract), I agree that it would be benefit to have the framework (features in the BIT token contract), to enable these kind of options moving forward.


Good idea. That will support hodlers aswell

I think upgrade to L2, and let bit be a gas is useful for price.

  Totally agree with this proposal, and I believe this is a must-be-done action which can significantly benefit the future development of Bitdao.
  To begin with, regularly buyback will stabilize the price of Bitdao, which can further strength the member solidarity because Bitdao members won't be bothered by the inflation and being confused by whether to sell it.  Increasing sense of belonging is a very important issue in any groups. And I believe this can make members more willing to hold and join the long term project in Bitdao rather than just taking it as a short term investment.
 Secondly, the stabilizing price and potential can attract more influential partners joining our groups. When the price of Bitdao is stabilized, more people will notice us and even eager to participate in our activities, which can form a positive cycle.
 Last but not the least, the advantages I mentioned above can fascinate more potential clients for Bybit, Bidao's largest partner. Hence, Bybit can donate more money to Bitdao and help Bitdao grow even faster.
To sum up, regularly buyback is a great strategy to make Bitdao and Bybit grow stronger. And this strategy has also been adopted by many coin exchange and has resulted in huge success. Hoping this proposal can passed in the near future and I believe only on that day, we can really realize our dream ''Ever Bit Counts In The Whole World.''
Thanks for your reading.
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Hey guys! :wave:

I am developing a proposal to present it to the community (A cooperation proposal with another DAO), it will promote BitDAO on a large scale, millions of people. One of the products created by our cooperation will generate a lot of monetization in the medium to long term with exploration and use of Data, as well as marketing/advertising. - Talking about Web 3 Data Economy.

The initial idea was for us to use this money generated by monetization to maintain the project and expand it, but we can change the mechanics a little bit if you like the idea and support us.

One possibility is to use this money generated by monetization for periodic repurchase of the BitDAO token which after that will be frozen in the BitDAO partner’s treasury.

This will not generate the deflation that would be token burning, but it would generate the effect that investors want is token appreciation and prevent a possible subsequent massive sale.

Model suggested here:

Bybit Commitment > Token Buyback > Token Valuation

Model suggested by me:

Bybit Commitment > BitDAO > Proposal X > Product Created > Product Sold > Repurchase Token > Token Valuation

However, we have one more issue to resolve: the lack of money that the sale of Collected Data will make in the project, the only way I found viable would be to double the amount we intended to request here.

In my opinion, it is a more sustainable suggestion in the medium-long term, but also more costly for the Treasury in the short term.

What do you think about this?

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I recommend reading this Twitter thread on the subject: https://twitter.com/danrobinson/status/1175410418820554752

The conclusion is that money is not a real resource so printing or burning it does not, by itself, create any real value. In the short term, burning tokens increases the value of everyone’s holdings, but the effect is too diluted to be useful. Low entropy capital can be usefully deployed to generate a yield, but millions of small deposits are the monetary equivalent of heat death. In the aggregate, holders can’t do anything more useful with the ‘free’ value they’ve received, so they’ll sell it and the price will return to equilibrium. Burning tokens also has the unwelcome consequence of artificially increasing interest rates, in the same way that printing money reduces them. In short, burning tokens is a wasted opportunity to generate a meaningful yield with low entropy capital and therefore net-negative.