Hello everyone and good day to you,
First of all happy to be part of such a great community. Some of you know me, 99.9% don’t but that is not important I have been a long time hodler and currently being in top token holders - I mention this so people know I only wish the best for the project and its community and I am not here for a quick profit.
I created this draft in order to do some brainstorming together regarding a possible future important aspect of our ROOK token use cases: the buy back and burn initiative.
As you know KeeperDAO treasury holds roughly 93m$ at the moment I am writing this, which is astonishing huge. As we all agree this treasury should be put to good use so we all benefit long term.
I have heard from right and left suggestions to create a marketing and spread awareness fund (great idea too), support talents (which already happens) etc. and I do believe there is room for another use case:
We could regularly buy back tokens from the open market every week with a % of the profit generated by the protocol: lets say most of the profit still goes to the treasury but the rest is used for the buy back.
The bought tokens should be burn in order to reduce the overall supply and create scarcity long term. Increasing demand → higher value of ROOK token → happy community.
For people say: “increasing the price of rook token is not important” I invite them send me their tokens, if they are here just for fun, why holding tokens? We all expect an increase of value of our holdings, otherwise why buy and hodl rook tokens? ROOK token is one of the backbones of the project and we, as holders, have the expectation this token will increase in value.
Even ETH implemented a burn mechanism, this will benefit everyone long term.
I think this buy back and burnt program could be very well used in marketing campaigns and to create positive vibes in the community. You know the say, happy //community, happy //project.
We have to determine if this is desired by the community and if yes, what % is used for the buy back.
Also, with the buy back tokens, we could burn them mostly but also leave some to fund other initiatives or award community members etc.
Thank you for your time and apologizes for my English.
Cheers and long life to keeperdao.