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DAO Fund
The fund controlled by the developers of TOMB Finance that conducts buybacks and acts as a reserve to help maintain the peg.
DAO Wallet Address
0x02517411F32ac2481753aD3045cA19D58e448A01
Functions of TOMB Finance 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 TOMB 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 TOMB TWAP is extremely high, the DAO will sell some TOMB 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 2mo ago
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