Per BIP 74:
The long-term goal with managing the liquidity is to have at least (-50%; 0%) price range covered at all times.
The current state of BADGER TCL is that roughly a 50% price drop is covered, so it’s time to deploy the next range with the following parameters:
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Lower bound price: 195 sats
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Higher bound price: 390 sats
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BTC to deposit: 10.21
Currently, Badger Treasury has accumulated about 1/3 of the total token supply, primarily through TCL buybacks. If the next two ranges are filled, that is projected to become 64%:
Another part of this proposal is to deploy the final TCL range:
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Lower bound price: 97 sats
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Higher bound price: 195 sats
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BTC to deposit: 7.22
If this range gets filled, that would imply that Badger Treasury has bought 89% of total supply off the market, so it’s not a likely scenario.
Still, I find it convenient to deploy this range as a way to earmark TCL funds onchain - and thus have a clearer distinction between runway and TCL allocations.
Vote
- Yes, deploy the next two ranges as specified above
- No, only deploy the next range as required by the BIP
