| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-59 | Increase Thales Token Buybacks | Vote Pending | MrBreakout (@mrbreakout) | This TIP proposes to update parameters in order to increase Thales token buyback frequency | https://discord.gg/8bzFdpGTrp | 2022-06-16 |
This TIP proposes to increase buyback frequency
Increase buyback frequency
Referring 'TIP-50: Use the sUSD from SafeBox as part of tokenomics ', Thales protocol started buying back Thales token more than 2 weeks ago with safebox wallet which accumulates protocol profits. Protocol data shows that safebox balance keeps increasing even after spending 300 sUSD to buyback Thales token everyday. Currently safebox wallet holding around 45k sUSD which means 150 daily buybacks already secured. Considering current market turmoil and discount on Thales Token Price that would be logical step to increase buyback frequency which would result in Thales Protocol to buy on minimum slippage and at a lower cost.
Moreover, Thales Protocol is showing steady increase in volume and its new products shows promising results that this increase will help to secure more funds in safebox in future.
Update variable sTickLength from "24h" to "18h"
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