ToxicDeer
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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.

DAO Wallet Address

Check on cronos scan: 0x53C3397EA4A4B7B3053BE45e20080f5Ac5E1E1c2 0xd3a41a00ded6e985ee74da106d3425231902a53f

Functions of Toxic Deer DAO

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.