Type

Operations Direct Action

Author(s)

Community Members

Summary

If passed, $225k USDC of treasury funds will be used to purchase Pays tokens with a maximum price set as 0.065 per token.

Motivation

While Pays is sitting below NAV, our treasury is an arbitrage opportunity for adversarial capital. We want to protect the treasury against liquidation and ensure we can continue building our vision while also protecting the tokenholders.

This allocation of capital would allow us:

• Protect our holders who want to see us build our vision.

• Accumulate tokens for OTC deals without increasing the supply.

Logistics

$225k of treasury funds will be used to purchase PAYZP1Wy3UmdEsNLJwmH61TNqACYJTvhXy8SCN4Tmeta (Pays) tokens with a maximum price set as 0.065 per token. These orders will be placed every five minutes over a period of 15 days (for a total of 4500 orders).

The price per token was established by taking the total funds raised minus two months of operating expenses. It does not account for any trading fees accrued from liquidity.

Specifications

Amount: $225k

Order Type: Recurring

Order Quantity: 4500

Order Frequency: 5 minutes

Maximum Order Price: 0.065

Effective Time Horizon: 15 days

NOTE:

Any funds remaining in the order (should it fail to complete its total number of orders in quantity) will remain in the DCA account until there is another proposal to cancel the order.

All Pays tokens will be transferred to the DAO treasury

Redemption/Buyback cooldown period

No new buyback or redemption proposals shall be submitted or executed for 90 days following upon succesfull implementation of this proposal