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DAO fund
The fund controlled by the developers of Toxic Deer that conducts buybacks and acts as a reserve to help maintain the peg.
Check on cronos scan:
0x53C3397EA4A4B7B3053BE45e20080f5Ac5E1E1c2 0xd3a41a00ded6e985ee74da106d3425231902a53f
The DAO fund is the second line of defense on top of the Bond Mechanism. The DAO fund is controlled by the Developers and will later move to a governance system to vote on using funds in certain areas of the project and outside including investment, marketing etc.
Information about the DAO is as follows:
- When DEER TWAP is below 1, buybacks will be initiated by the DAO. These will be done at a time decided by the core team and not publicized until after the protocol is back in expansion to prevent front running.
- When DEER TWAP is extremely high, the DAO will sell some DEER to help assist bringing back to peg and prepare its reserves for buybacks below 1.
- The DAO fund will hold a range of assets at the discretion of the core team
- The fund may or may not invest in safe projects to earn yield and grow itself at the discretion of the team.
Last modified 1yr ago