[Mandate Change/Clarification][Community feedback Requested] Treasury plans to increase flexibility to sell nftx tokens

1

Under the current mandate understanding, the treasury does not sell nftx tokens for other tokens or eth/stables. This DOES NOT impact our continued commitment to continue our levels of full-range LP. We are giving notice to the community of our plan to change this restriction.

PLEASE VOICE ANY CONCERNS YOU MAY HAVE OVER THIS CHANGE IN THE FORUM OR IN DISCORD

Reasons why we might want to do this:

  • reason 1: sell one nftx token for another (e.g. sell PUNK and buy MAYC)
  • reason 2: sell nftx tokens for reserves (sell PUNK, MAYC, etc for ETH/USDC)

These actions will allow us to more properly allocate according to our internal weighting approach across collections/strategies.

4 Likes
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full support for the general idea

can you give more details on the execution side (what data triggers a weight in/out of a position, who is responsible for taking and executing the decision etc …)?

i’d support the team being able to act on it’s own for small to medium strategies as long as it’s in the mandate and require community vote to change mandate or for very big moves.

3

we would do a one time larger rebalance program to hit weights and then otherwise continue mostly as usual, in which the free eth and erc20 yield will be swapped for new collections and/or underweight ones