I would like to propose a buy back (or multiple) of PSY from the PsyDAO treasury. Given the significant discount that PSY is currently trading at relative to the initial token sale price, I feel as though it would be a strategic value play to secure at least $100,000 worth of PSY from the open market in an attempt to lock those tokens into sturdier, more committed hands. I envision the buy back(s) occurring on Serum’s CLOB and utilizing a TWAP approach to the purchase. Taking this execution route is pro-Solana ecosystem and would be mutually beneficial for both the PSY and Serum teams. I would also like to raise the possibility of staggered perpetual future buy backs based on a combination of protocol revenue as well as on a schedule, mirroring the unlock schedule to incentivize new holders and dissuade larger selling events. As seen on Realms, the PsyDAO has just under two million dollars worth of resources to contribute to these proposed purchases.
In posting this, I would like to stimulate conversation regarding how this may be better structured in a way to optimize its beneficial impact on the PsyDAO and the community. I look forward to engaging with responses and bringing this proposal to vote.