I’m voting for the do nothing option as well.
Liquidity is important, but I’d wait to see how liquidity looks like after LM program ends. If it’s not sufficient, I’d launch a new RGP to add liquidity.
Market buying RBN won’t move the price much and seems like a waste of ETH to me that could be given out to contributors and the community for building things in and around the RBN ecosystem.
I like the idea of putting the ETH into RBN vaults for now and farm 30-40% APY for the DAO!
This is a common misconception. To my knowledge, stakers will be effected even if the LP position is not staked due to a quirk in the canonical uv3 staking contract. See here for details.
+1 - let’s do nothing.
I voted do nothing, also i spoke to Dan Robbinson and he confirmed that too much concentrated liquidity can be bad as it will act like a buy/sell and price can get stuck in that range
I am voting to do nothing. I think it’s good to have dry powder and the team aren’t in a position where they need to do one or the other right now.
I voted to defer because I think a good use of the RBN would be to airdrop it to the addresses who were crowded out and unable to get into the vaults due to DVs shenanigans. The easiest would be to drop to those “OGs” who earned an NFT.
Just my two Wei.
Thanks for this info, I wasn’t aware that the staking rewards calculation isn’t able to pull Liquidity just from the staking contract. With that in mind I’d lean towards waiting for the LM program to be over to deposit liquidity.
I think moving to arbitrum with only a few million in unincentivised liquidity would be a little risky though, we could see a large price variance between that pool and mainnet
I think that the ETH should be kept in the Ribbon Treasury, who knows how it might be useful in the future.
Also, it may be best to push this proposal down the road slightly as it appears that further $RBN from other investors who deposited after the email on the 17th may be returned to the treasury.
While I understand the community is eager to be compensated for perceived losses from the divergence sybil, I think that on a longer time frame this price action is pretty insignificant compared to the power of having 14-15 million USD worth of Ribbon and Ethereum in the hands of the DAO treasury vs being held by VCs / investors who could sell at anytime.
No need to “burn” supply that will almost certainly not be “sold” anytime soon, right?
Hey everyone, just a heads up. The original post was inaccurate because I was under the impression that the Uniswap V3 position will not dilute the stakers. In reality it does and I should have confirmed this sooner. Thanks @gadget for bringing this up.
I am going to edit the post to do a Sushiswap LP for RBN/ETH instead.
I would vote for a deferral atm. RBN has pretty good liquidity and a buyback at 700 ETH won’t accomplish to much IMO. Holding the ETH in our treasury is great and just holding the returned RBN in our treasury reduces the supply of RBN in the wild.
I would prefer not to do protocol owned liquidity until the LM is over as I dont want to dilute the rewards for LPers.
Set aside as a future reward source.
Currently, with liquid mining, there is plenty of LP depth for replacement. At least, there is no need to rush to add or buy back LPs.
I have voted for sushi LP with the 719ETH + matched RBN
Still encourage others to post interesting ideas for what we could do with the remaining RBN and ETH in the future. This is not an end all be all!
Buy RBN and start stacking liquidity with Olympus Pro is the way to go.
My vote is to do nothing and save the funds for later when it’s more useful. I really don’t think buying RBN right now makes sense and only affects short-term pricing. I think @DonG_Lover brought up great points too.
I like the option of doing nothing based on a lot of good points mentioned above. I also think when meta vaults are released the funds could be used to incentivize some great strategy development on top of them as another potential future use case.
Voted for to do nothing.
Becoming an LP is something against our community contributers who are LPs.
Buying RBN with ETH would affect the price positively but we dont want artificially boost price of RBN. That could lead RBN price way too up out of the range for some LPs. Also against community. Fuck that!
Lets do nothing and have some great assets in the treasury!
Buyingback RBN now would reward current LPs, but I’m sure some of them were not LPing at the Divergence dump.
If we want to compensate the LPers that got dumped, I think we should take a snapshot of the wallets that were providing liquidity when Divergence dumped and compensate those.
Let’s do nothing and put the eth into the vault to earn yield while we’re at it
Do nothing and keep in treasury ALL THE WAY… Ribbon has been trying to steer clear of people who are in this for the short term…
Let’s make our DAO have a good chunk of ETH in hand for any future endeavors!..
The LM is running smoothly, no need to rush ribbon into it, let’s let this pass and see what we REALLY do need it for in the future.
It’ll be hard to sell RBN and not dump the market in the future, this happening could be a good thing for us!
The liquidity provided by Uniswap right now is sufficient enough that there is no slippage during trading.
Since RBN has been swapped for ETH, it is correct to buy RBN again.