Use NFT capital to Market buy SDT

General
#1

Request for information – Would like to know, cumulative Ether earn by stake dao by selling NFTs via open sea auction.

Lately, the Price of SDT is attractive to deploy Ether to buy back and circulate back to community loyal supports and holders. This activity will also boost investor confidence as stake dao use its capital to buy cheap.

Feeback and comments are welcome. thanks

#2

Dumpers are going to dump right after that. I was thinking of some different scenario.

We need gradual buybacks to manifest every once in a while. Split it in 10, 20 transactions and do them every few days. No big buybacks!

Another (very important) idea to mitigate sell pressure is to force contributors from this project to collateralize their SDT allocations on RARI (FUSE): Rari Portal

You can see that the SDT & xSDT are 0% utilized! They always say they believe in the longer term vision of the project - then let’s ask them to put their money (valueless gov tokens I mean) where their mouth is and if they require liquidity, then make it mandatory for them to take LOANS and not dump their tokens on the market.

I am reminding you all that Stakedao has 40% token allocation for contributors. It would greatly benefit the project & our confidence in it if they did that.

I am not sure if a governance vote in this regard would be accepted, as surprisingly they control most of the supply and have the most voting power. Even so, signaling this would create awareness in the community and our voices could be herd (pun intended). It is worth a try.

Look forward to your thoughts.

#3

Thanks for your comment. there are some valuable insights into your thoughts. yes, I agree to lock sdt in some way, shape, or form (Rari, the palace or LPs) are big indicators. and for 40% part, I was under the impression that the team was planning to increase vesting for 5 years.

But for the context of NFT capital (profit), I am not sure how the stake-dao team is planning to re-distribute back to stakers and holders. Given the market price distortion, if the core team believes it is massively undervalued. this gives us the advantage of using this capital to collect more SDT at cheap and for the long haul.

Looking forward to more discussion. will post this to their telegram and discord channel. thanks

1 Like
#6

Thank you for your comments. using NFT sales for the growing platform is a good idea, but it loses the advantage of acquiring cheap SDT. Say it short term, buy SDT, and Lock it for later use (Bounties, Marketing, etc.). I am trying to seek direct advantage towards investor confidence i.e. “Stake Dao team believe and think the value of SDT is attractive”. I agree there can be many ways ~ best I can think of is to buy back. Unless the team wants to hold ETH.

Following are 2 more things I would like to document:

  1. How much ETH stake dao team has acquired via NFT sale.
  2. Where can I find more information of Stake dao treasury (What type of Asset treasury holds).

Thanks

1 Like
#7

Related Information from stake dao team from discord :slight_smile:
Address - 0xf930ebbd05ef8b25b1797b9b2109ddc9b0d43063
13 (pure ETH) + 28 (Weth) + 71 (LP sushi swap) = 112 ETH

Request to address a couple of questions, which is related -

  1. Please confirm aproxx 112 is the total ETH accumulated from NFT sales.
  2. Is there any benefit to SDT holders from LP to sushi swap? What intention team had to use acquire ETH for this purpose.

Thanks

1 Like
#8

I think the auction should be done with sdt. I mean, the dapp should integrate a auction system where you buy the nft with sdt.
We need to have the maximum of use case for this token. It would one way to avoid to much sell from the whales. Someone who want to buy a NFT don’t want to sell his precious eth.
I give you a other exemple: Mickael is fan of sdt for 4 month. he put his money in 2 different strategies and stack them on the protocol. He earn some sdt and to buy a NFT from stakedao.
he has to choice: he can stack them in the sanctuary or buy one the market. He doesn’t want to sell his eth. He will sell his sdt and use some other coins to buy it…

We should find a other way for the next year :grinning:

#10

LP sushiswap has been accumulated from Olympus pro bonds.
The rest is coming from the NFT sales, and is used for gas cost of running the DAO (harvesting and option strat management, as well as weekly allocations, are quite gas expensive)
We should disclose the full DAO treasury asap though

#11

very good idea. We should definitely think about this. Maybe offer the possibility in the palace.

#13

we do not have any conclusion on this, I believe there is one more proposal coming for acquiring self liquidity. this should be merged on that? hopefully, holders can get some benefit out of it.
thanks

#14

Definitely more in favor of acquiring liquidity. Simply buying provides little tangible longterm benefit.