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RE: LeoStrategy Token Buybacks | Re-Pegging After a 50% BTC Drawdown
So, you are solving Leostrategy's liquidity problem by taking away ours. Yield we were budgeting on receiving are now not coming. Instead you are taking the money you owe us and putting it on your own balance sheet. Um, I get the theory behind it, but I'm not a fan.
What happens to "bonus" yield we locked in "for life" when we bought up big in the pre-sales?
0.00000000 BEE
i was thinking the same thing, somehow this smells fishy…
You got khaled
No, the stablecoin yield that was being paid is temporarily diverted to purchase the tokens and permanently remove them from the supply by holding inside the RCBF where they can never be removed
Once tokens are re-pegged, stablecoin yields resumed. This is a built-in mechanic for periods of sustained downturns
As far as yield for bonuses is concerned: the yield is still being paid, so the bonuses are still being earned. Yield is temporarily diverted to buybacks. Not permanently gone. Not even shut off. Please read the full post.