Buyback program

Please use this thread to discuss if we should implement a buy back program and how we should implement it.

For example:

  • Should the goal be to buy AKITA or to buy HACHI?
  • Do we leverage funds in the treasury or do we build a function to automatically generate the funds to buy back tokens?
  • What do we do with the tokens we buy back?

What are the goals of this buyback? As Marcus states above, is it for AKITA or HACHI?

I don’t think it makes sense to buy HACHI from the open market if the goal is then to burn it. The Akita DAO multisig treasury holds the majority of HACHI, and will claim all the leftover Community Claim Allocation (See Gitbook Tokenomics here) when the claim period ends on June 12, 2023.

If there is a desire to burn part of this supply, then we should look at all the allocations and decide where that makes most sense, and what sort of quantities are being targeted. I would still ask what the purpose of this is – why does it make sense to burn tokens that could otherwise be used in the future?

Part of the HACHI tokenomics also includes 15M HACHI that earmarked for AKITA buybacks. See here. With a limited amount of liquidity that exists for HACHI at the current moment, great caution should be taken when it comes to devising how the these buybacks will happen.

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Any plan to buy back Akita should be done in a sequenced and coordinated manner. We want those 15M Hachi to count.

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Yes thanks for putting this up . My suggestion was buying back HACHI from univ3 pool fees . That Ryan said they launched another pool on v2 . That it wasn’t neccesary . We had enough on univ3 and we should increase that

Can akita team provide documents how much fee they got since launching pool on v2 ? For Hachi buyback

Buying Back will help the chart to recover and more buyers will come that time

You can burn them or anything else you want . I have mo opinion for this side

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Here is the first withdrawal of UniV3 fees:

  • A total of 11.789 ETH and 15,695ETH were collected on January 31, 2023.

Here is the creation of the UniV2 pool from the fees of UniV3:

  • The UniV2 pool was created with 12 ETH and 30,183 HACHI.

On February 18, 2023, we collected UniV3 fees again:

  • A total of 1.959 ETH and 6,333 HACHI were collected.

As of time of writing:

  • The UniV2 pool has 5.2976 WETH and 70,713 HACHI and has earned a total of 0.0884 WETH and 1,180 HACHI.
  • The UniV3 pool has 33.78 ETH and 454,700 HACHI, and uncollected fees totaling 0.4075 WETH and 4,822 HACHI.

Thanks RyMac . Sorry i was away for a long time . I work in hospital and not have much time for phone and socials

So we have 0.4 ETH + 0.08 ETH in uniswap v3 and v2 . Can we use them to support the price?

The v2 fees are auto-compounded into the entire LP, so we can’t withdraw them by themselves.

Using .4 ETH (and probably a little extra since the time I wrote) to support the price is pretty insignificant. If there was some other revenue-generating source, it would be more reasonable. You’d want a constant source of revenue that was dedicated to buying HACHI. Small buys that are only periodic…it really won’t make a difference.

Also, what is being done with the HACHI that is being bought? It should have a better purpose than just “price”.

Yes , also ETH fees are high and each transaction will cost extra money

Instead of uniswap fees , can’t team use other funds like its sablier and multisig wallet to buy back?

About second question . Best way is to burn them . Or lock them for long time . Or add to a staking pool or …

No team here, just the DAO - that’s why we’re having the discussion here!

There is a dedicated allocation of HACHI for AKITA purchasing as I pointed out in my first reply above.

If we want to have a dedicated AKITA buyback program, then we need to establish how that is being funded. To me, it doesn’t make a lot of sense to spend our AKITA on buying more AKITA. We’d be selling AKITA to buy ETH in order to buy AKITA.

Similarly, it doesn’t make sense to me that we’d want to spend a lot of our AKITA funding just to buy back more of the governance token for the DAO, especially when we already control the majority of the supply.

A possible solution could be directing the DAO to start developing a product which generates fees that could be used for this purpose.

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Ok . DAO’s funds

Of course i’m not talking about Akita . Buybacks won’ help that

But for HACHI , even a purchase of $10k in a month period . Would help a lot

Fee generations , for now i only think about the DAO funding for that . (AKITA tokens)

What do you feel are the best products the DAO could be building right now to attract both AKITA and HACHI holders to use/lock/transact with their tokens?