Sacred Buy Backs

The process outlined below will start at the end of the 3rd month after Sacred Finance’s IDO. From the start of this date.

At the end of each month, the DAO shall:
- Calculate the total revenue gained by Sacred over that month.
  - If the revenue is under $1000, there will be no buybacks and the revenue will be placed into the treasury.
- 10% of that revenue to buying back SACRED from the open market.
This portion shall be used to buy SACRED on any DEX, ensuring that it is purchased at a reasonable rate to keep the slippage at or below 3%.
The purchased SACRED shall be transferred to the treasury.
A record of these transactions shall be maintained for auditing purposes.

Last updated 2 years ago

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The process outlined below will start at the end of the 3rd month after Sacred Finance’s IDO. From the start of this date.

At the end of each month, the DAO shall:
- Calculate the total revenue gained by Sacred over that month.
  - If the revenue is under $1000, there will be no buybacks and the revenue will be placed into the treasury.
- 10% of that revenue to buying back SACRED from the open market.
This portion shall be used to buy SACRED on any DEX, ensuring that it is purchased at a reasonable rate to keep the slippage at or below 3%.
The purchased SACRED shall be transferred to the treasury.
A record of these transactions shall be maintained for auditing purposes.

Last updated 2 years ago

Was this helpful?