| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-78 | Increase Thales Token Buyback Frequency | Vote Pending | MrBreakout (@mrbreakout) | This TIP proposes to update parameters in order to increase Thales token buyback frequency | https://discord.gg/8bzFdpGTrp | 2022-08-19 |
This TIP proposes to increase buyback frequency
Increase buyback frequency
Referring TIP-59 and TIP-71 Thales protocol increased buyback frequency from 24h to 18h and then a couple of weeks later again from 18h to 12h due to increase in protocol volume and safebox income. Latest buyback TIP implemented just 3 weeks ago and since then safebox doubled its funds amidst daily 600 sUSD buybacks.
Optimism incentives and Overtime popularity boosted thales protocol volume and profits immensely.
Currently there is 16520 sUSD in buyback contract and 114522 sUSD in safebox contract (30000 sUSD recently transferred from AMM contract).
Even without AMM profits safebox did close to 20000 sUSD profit last week and it is consistenly profiting every week in parabolic fashion.
Finally, market seems to be selling off and it is good opportunity to buyback thales token from market for a very good price range. This TIP proposes to double daily buyback frequency (1200 sUSD worth of buyback per day) which is still enough to secure more than 100 day runway.
As a summary, referring above findings and considering current value of Thales Token and market conditions it is good time to increase buyback frequency yet again.
Update variable sTickLength from "12h" to "6h"
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