Buyback & Burn
The Buyback & Burn (B&B) is the process in which the OINDAO gives back to the community by using the Stability Fee and Borrowing Fee to buy the OIN token on the market.
Buyback and Burn The Buyback & Burn (B&B) program is based on the Stability Fees and the Borrowing Fee, which is a one-time charge when the stablecoins are minted. These are gathered in full and used to repurchase the OIN token on the market. This is designed as a way to give back to our community for using the OINDAO.
The fees are collected until they reach a combined total of $10,000 across all stablecoins (see revised schedule below for details). After several bridges and conversions, they are ultimately used to purchase the OIN token (currently using the Uniswap V2).
Buyback & Burn History
| B&B Round | nUSDO | aUSDO | ONEUSD | OIN Bought | TxID |
|---|---|---|---|---|---|
1 | 4,797.37 | 2,428.55 | 11,792.74 | 112,561 |
Revised Schedule (as of May 30, 2022)
Here are the following updates made to our B&B program:
If the fees accumulated exceed $10,000, the B&B will occur monthly at the start of the calendar month
If the fees are less than $10,000, the B&B will be skipped for that month and the fees will be accumulated for the following month's B&B timing. If the next month's fees collected plus the deferred fees from this month exceed $10,000, the B&B will take place as regularly scheduled
The revised schedule of our B&B program is designed to contribute to long-term value add as well as consistent growth of the tokens.
Fee Collection Wallets
WNEAR: 0xC42C30aC6Cc15faC9bD938618BcaA1a1FaE8501d
aUSDO: 0x293074789b247cab05357b08052468B5d7A23c5a
WONE: 0xcf664087a5bb0237a0bad6742852ec6c8d69a27a
ONEUSD: 0xc1873199284B4490A4AACbE7CD6710Dc6aA95e08
Last updated