{"requested":"opengov:47","threadKey":"opengov:47","generation":"6690c444c3e1fdf2","total":6,"rows":[{"commentId":"s67e1d5d8bae1e37097aee7ee","parentId":null,"replyToId":null,"author":{"account":{"accountId":"0xf646a82b7f6ac0fca3614db37b7518def6fec0869568f514af66fb478231f62e","address":"16ZumcLWJ5qfMF97eWcGDfDRbbv8yr2sC6gH5CiziTY5qH8L","emoji":"🦙","tag":null,"identity":null,"profile":null},"legacyName":null},"body":"As long as the protocol has liquidity to launch larger buybacks in case of a market crash I'm cool with this.","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-24T21:59:52.304Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e1d5d8bae1e37097aee7ee","cid":null,"height":1},"position":{"side":"Aye","conviction":"Locked6x","balance":"53922845574379443216","weighted":"323537073446276659296"},"media":{},"replies":[{"commentId":"s67e24d1dac21533a1c1bcba0","parentId":"s67e1d5d8bae1e37097aee7ee","replyToId":"s67e1d5d8bae1e37097aee7ee","author":{"account":{"accountId":"0xc884cfb4aaa082d634dd1490b083e2484eb1ae869dc283bdd232e79076050f23","address":"15Xv2kSCJJ74F7QoraiL24fsyLXz9cR6cfjy4d2zYdWK7j7t","emoji":"🐞","tag":null,"identity":{"display":"dutchiekiwi","verified":true,"email":"","web":"","twitter":""},"profile":null},"legacyName":null},"body":"[@7PAU...Zqrk](/account/7PAU47SuWQwTBwdLi42m1RyCKAvfSPhf5MaYqGExtKzoZqrk) [@7PAU...Zqrk](/account/7PAU47SuWQwTBwdLi42m1RyCKAvfSPhf5MaYqGExtKzoZqrk) Yes this will leave 25k h2o (of the original 55k) and with root ref #44 adding another 4.37k, refs coming like ETH reshuffle to native ETH adding even more h2o. In tranche 2 lolmcshizz suggested we reserve h2o for some hollar so that needs taking into account as well that not all h2o will be buybacks :)","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-25T06:28:45.975Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e24d1dac21533a1c1bcba0","cid":null,"height":2},"position":{"side":"Aye","conviction":"Locked1x","balance":"1000000000000000000","weighted":"1000000000000000000"},"media":{},"replies":[]}]},{"commentId":"s67e2ac18ac21533a1c1bcba6","parentId":null,"replyToId":null,"author":{"account":{"accountId":"0x14367fce4aed48f2417aa18bb14ff2638ede82f93a313070364788e611bfef45","address":"1TW9Ygr9c2gQ76EZB9qyM2infUxn7Pt8CJBNQZiZ18UXSRk","emoji":"🦇","tag":null,"identity":{"display":"xupanweb3","verified":true,"email":"","web":"","twitter":"@xupanweb3"},"profile":null},"legacyName":null},"body":"dutchiekiwi great i love u","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-25T13:14:00.867Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e2ac18ac21533a1c1bcba6","cid":null,"height":3},"position":{"side":"Aye","conviction":"Locked5x","balance":"8000000000000000000","weighted":"40000000000000000000"},"media":{},"replies":[]},{"commentId":"s67e2d8a6ac21533a1c1bcba8","parentId":null,"replyToId":null,"author":{"account":{"accountId":"0x728c1d08c6aca1ef61a42c5f7d3bad72585de80bdba1579f5e3233e638eb0022","address":"13bC5iGr9qHoLUH6UoVnFH1quy5qPyZA9xc96eePzssPYMv8","emoji":"🐠","tag":null,"identity":null,"profile":null},"legacyName":null},"body":"I don't actually believe we need such buyback now but I support this time because this is for once proposed by someone out of team and I support this approach. I believe it is a good signal to give to encourage more users and supporters to get involved","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-25T16:24:06.131Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e2d8a6ac21533a1c1bcba8","cid":null,"height":4},"position":{"side":"Aye","conviction":"Locked3x","balance":"380100000000000000","weighted":"1140300000000000000"},"media":{},"replies":[{"commentId":"s67e6bbdcac21533a1c1bcbb1","parentId":"s67e2d8a6ac21533a1c1bcba8","replyToId":"s67e2d8a6ac21533a1c1bcba8","author":{"account":{"accountId":"0x327ec31690c7c592136d8de3995e8fc81ceeb558cc36b632cc9d1efbac3ae80f","address":"129D3vfBWY5XhjZZV2Q36CoW5DrzPWAxrQAhDfhANukZtqru","emoji":"🐒","tag":null,"identity":null,"profile":null},"legacyName":null},"body":"[@7LBk...Gum6](/account/7LBkNDPFNAPbBAmKYLvH33mcdY6MrXDx3DWQriANAkL7Gum6) \nA great perspective for thinking.\nI hope the team can have more and more missionaries with different styles","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-28T15:10:20.506Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e6bbdcac21533a1c1bcbb1","cid":null,"height":8},"position":{"side":"Aye","conviction":"Locked3x","balance":"1766000000000000000","weighted":"5298000000000000000"},"media":{},"replies":[]}]},{"commentId":"s67e3b932ac21533a1c1bcbab","parentId":null,"replyToId":null,"author":{"account":{"accountId":"0x5ae602686c9573bff2ef0483bda7a9589bc9eb7a2e14f91296367c5785394b27","address":"134Bdvpf4EphtYv1A7Eg5QfrS9ZwGwygdN5uHzqijFjBuhzH","emoji":"🦓","emojiName":"Parakeet","emojiUrl":"https://cdn.discordapp.com/emojis/1074721851550466219.webp?size=32","tag":null,"identity":{"display":"Parakeet","verified":true,"email":"","web":"","twitter":""},"profile":null},"legacyName":null},"body":"I shared my views previously here: [Referendum #32](/referendum/opengov/32)\n\nHowever, lolmcshizz has since made statements in [discord](https://discord.com/channels/744493635764224071/811200760430985246/1346947343299117056) that suggest I misunderstood the purpose and value of these buybacks in my prior comment. \n\nFor example: \n```...these H2O were received because the protocol (HDX holders) suffered IL on their BTC. Buying back HDX is the only way to return that value back to HDX holders without causing some kind of knock on impact, as HDX doesn’t really exist anywhere else....[continued]```\n\nI have some issues with what lolmcshizz said: \n1. The knock-on impacts of frontrunning and weak-handed selling are ignored. These also hurt liquidity providers and, in some circumstances, hurt them even more. \n2. There is an assumed false necessity of returning value to HDX holders. It was not HDX holders who suffered impermanent loss on individually held BTC positions; it was the treasury. There is no need to inflate the value of HDX to repay HDX holders via price-pushing buybacks. HDX holders already own the H2O. We are not returning any additional value to HDX holders by buying HDX; we are merely changing our treasury's proportional asset distribution. \n3. If the community feels billions of HDX already owned by the treasury is insufficient, we should allow the treasury to acquire as much HDX as possible by avoiding pushing the price. This can be achieved via longer timescale DCA, team/council multisig buying, and/or OTC for HDX. \n4. lolmcshizz, suggested frontrunning was a non-issue because 22-day buyback schedules are too long. This one is for 11 days and I don't the the previous DCA has even completed yet (I have not checked)\n5. lolmcshizz says that we cannot sell H2O as a new marketable product to people who want it because anyone who buys it might sell it, which would hurt our liquidity providers. Given that the max possible impact on our liquidity providers is something like 3%, and every prior HDX buyback impacted our liquidity providers via weak hands, I am not convinced buying HDX is better for liquidity providers. Plus, we don't need to sell the H2O directly; we can create a new tradable Omnipool Index (OPI isn't taken yet), mint some amount to match our H2O, and then use that as the initial liquidity, with our H2O backing it. \n\nThe only people gaining realized value via these buybacks are exiting the project or front-running. To be fair, after reviewing on-chain data, I estimate frontrunning is not more than five to low six figures. Additionally, to be fair to lolmcshizz, the alternatives I have suggested require some time investment from the team. \n\nHowever, while I am still against these buybacks, my position has softened, and my reasons have changed. I do not believe it is in the best interest of the project to discuss publicly, but I am happy to share my viewpoint with community members privately. You can find me on Discord. If you ping me in chat, I may not see it due to quarantine, so DM me. \n","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-26T08:22:10.882Z","editedAt":"2025-03-26T18:48:54.979Z","revision":0,"upvotes":1,"source":{"name":"subsquare","id":"67e3b932ac21533a1c1bcbab","cid":null,"height":5},"position":{"side":"Nay","conviction":"Locked1x","balance":"6000000000000000000","weighted":"6000000000000000000"},"media":{},"replies":[]},{"commentId":"s67e3cc4aac21533a1c1bcbad","parentId":null,"replyToId":null,"author":{"account":{"accountId":"0x3e00ec1ae9ccd9bd8bc014e85d3f9b7c49692ed5c275060b35e5a448ce75453a","address":"12QJF5scJppkauDYyCFtGFrzR8Gsjp3ZL1C3bw5PLHgMs7Vd","emoji":"🐕‍🦺","tag":null,"identity":{"display":"Lucky_Boy","verified":false,"email":"Blackstat@protonmail.com","web":"","twitter":""},"profile":null},"legacyName":null},"body":"Dancing with a tambourine around the totem","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-26T09:43:38.951Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e3cc4aac21533a1c1bcbad","cid":null,"height":6},"position":{"side":"Nay","conviction":"Locked6x","balance":"27891843445532769","weighted":"167351060673196614"},"media":{},"replies":[]},{"commentId":"s67e6a79cac21533a1c1bcbaf","parentId":null,"replyToId":null,"author":{"account":{"accountId":"0xf61d983487817667805f61db0f5ba60b29efa3b8563ed79379e56872d394207f","address":"16Zha82mt52199sVctZ8hEh9sBqGgdNDHgft8GEeFfwy4Amf","emoji":"🦥","tag":null,"identity":{"display":"Wally Wallet","verified":true,"email":"","web":"","twitter":""},"profile":null},"legacyName":null},"body":"I for one welcome our Dutch overlords. ","bodyFormat":"markdown","hidden":false,"hiddenReason":null,"deleted":false,"createdAt":"2025-03-28T13:43:56.032Z","editedAt":null,"revision":0,"upvotes":0,"source":{"name":"subsquare","id":"67e6a79cac21533a1c1bcbaf","cid":null,"height":7},"position":{"side":"Aye","conviction":"Locked4x","balance":"5498700000000000000","weighted":"21994800000000000000"},"media":{},"replies":[]}],"updates":[],"nextCursor":null,"positionsComplete":true,"locked":false}