Summary

Waves DAO Proposal: VVXTNLP Tokens Buyback and Arbitrage Initiative

Dear Waves DAO Decision Makers,

I am writing to propose the allocation of a portion of our treasury funds towards an initiative to buy back VVXTNLP tokens. VVXTNLP is a LP token for vested accounts on vires.finance, which allows holders to receive XTN over a 500 day period by staking it.

Current Market Situation

Currently, the VVXTNLP token is being traded on WX at approximately a 20% discount. By purchasing it and staking it back to Vires.finance, we can generate a 20% arbitrage profit over time in XTN. The same can be done with USDT/С Vires LP tokens, with an additional step of converting them to VVXTNLP.

Primary Goal

The primary goal of this proposal is to increase the value of our XTN treasury by leveraging a simple arbitrage strategy. Additionally, this initiative will provide an opportunity for vested accounts on Vires to exit their positions if they so choose.

Execution Strategy

To execute the buyback, we will utilize a bot that will purchase VVXTNLP at market prices on WX and stake it back to Vires.finance. All XTN released from vesting will be sent to the Waves DAO treasury, allowing us to further grow our treasury.

Value Proposition

We believe that this initiative presents a unique opportunity to increase the value of our XTN treasury while providing a beneficial solution for vested accounts on Vires. We kindly request your consideration and support for this proposal.

Proposed Budget

I suggest to allocate 1 million XTN for this proposal.

Sasha

Transfer transaction preview

Transaction ID: GaMrV4dEXgnTp1eqRSajMs4DGn8dFB5izFfC6iPJXoXN
Sender address: 3PEwRcYNAUtoFvKpBhKoiwajnZfdoDR6h4hPublic key: GDPfYHA6NUZCmin3J7LWZhCvSjBcna8HebyvQyrw17v
Recipient address: 3PCPpEmBFUYquEFSJVBz4A9Lr1EQqjGZqVF
Amount: 1 000 000 XTN
Blockchain fee: 0.09 WAVES
Execution time: 28 May 2023 15:00Broadcast 14:00 - 16:00

Raw transaction data

{
  "type": 4,
  "fee": 9000000,
  "feeAssetId": "WAVES",
  "timestamp": 1685286000000,
  "version": 2,
  "senderPublicKey": "GDPfYHA6NUZCmin3J7LWZhCvSjBcna8HebyvQyrw17v",
  "proofs": [],
  "recipient": "3PCPpEmBFUYquEFSJVBz4A9Lr1EQqjGZqVF",
  "assetId": "DG2xFkPdDwKUoBkzGAhQtLpSGzfXLiCYPEzeKH2Ad24p",
  "amount": 1000000000000,
  "attachment": ""
}