I would like to propose OTC Purchase of 1,111,111 MNDE from the DAO treasury at a rate of 0.045 USD each for a total of $50,000 USDC. This money would be deposited directly into the DAO treasury for DAO use. I am happy to add any locks or adjustments as deemed reasonable. This enables the DAO to have more liquid assets on hand for operations to fuel some of the next phase of the roadmap.
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0.045 seems reasonable given volatility and the fact I was most of MNDE’s volume recently which will likely keep dropping as Orca and other continue to dump their tokens. But I am open to negotiation.
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Am for this. I see no issue.
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I’ll draft a proposal later today unless there is any further disagreement.
If you actually want feedback, I’d wait until the weekdays - this came up late on a Friday night and team members may not have had time to see it.
50k USDC gets you ~740k MNDE at the time of writing, so you are practically underpaying by 33%.
Also given your attitude toward certain mDAO members who disagree with you, I believe by allowing this OTC trade to proceed therefore giving you an outsized influence at a discount, more community members could fall victim to your behaviour.
If you truly want Marinade to succeed, stake SOL with Marinade or ask for a donation address, I’m sure that the team would be happy to assist.
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Would not want the MarinadeDAO to entertain proposals like this from random individuals and for such low amounts.
The OP can buy his desired MNDE on the open market like anyone else can.
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We have discussed this internally. The consensus is that the team is unlikely to support ad hoc OTC deals, given that they would favor those creating the specific proposal over those that need to acquire MNDE in the market.
We may decide to propose a second token exchange program at some point, to align incentives with ecosystem players, but if we do so it would be with equal terms for all involved - including price and likely minimum amounts to justify the overhead. I do not believe crafting one is our current priority, however.
2 Likes