OINDAO Buyback & Burn — Revised Schedule
The OINDAO has a new Buyback & Burn schedule to better fit the usage patterns of the current community. Along with a more efficient schedule, we’re looking at bringing the most value when possible, as well as transparency.
The B&B program has been a good driver of discussion, and an even better way of the OINDAO to further incentivize our users to partake in the platform and grow the community.
Due to the lower usage during these turbulent market times however, the fees generated on the OINDAO isn’t as high as the previous season, leading to a less meaningful B&B after transaction fees, bridging, swaps, and everything else is complete.
We have decided to accommodate such a turbulent market with a more flexible B&B program that will bring a more meaningful impact to our users and community in general.
Buyback & Burn Schedule — Revamped
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The following changes have been made to our B&B program:
- If the accrued fees exceed $10,000, the B&B will happen monthly at the beginning of the calendar month
- If the fees are less than $10,000, the B&B will be skipped for that month, and be left to accrue for the next month’s B&B timing. If the next month’s fees collected + the deferred fees from this month exceeds $10,000, the B&B will happen at the regularly scheduled time
This is also one of the efforts of OIN Finance to redistribute the value captured by OINDAO fees to the users who contributed to that value through governance votes, staking, and other means.
You can also check our first completed Buy and Back Program announcement article at this link.
ABOUT OIN FINANCE
OIN is a decentralized stablecoin issuance platform, allowing users to easily leverage their tokens or interest-bearing assets for leveraged yield-farming strategies. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins, we bring the best of both stablecoin solutions and yield farming strategies, all in one platform.
For all the recent updates and progress, connect with OIN Finance and become a part of our community at:
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