Type

Operations Direct Action

Author(s)

Community Members

Summary

If passed, $2M USDC of treasury funds will be used to purchase RNGR tokens with a maximum price set to $0.78 per token (current NAV).

Motivation

As RNGR is trading at a much larger discount to NAV than other curated MetaDao launches, our treasury is exposed to a greater risk of being exploited by arbitrage from adversarial capital. We want to protect the treasury against liquidation and ensure the Ranger team can build out their vision.

This allocation of capital would allow us: ⁃ Improve overall sentiment regarding Ranger ⁃ Protect our holders and team alike by addressing the risk of a treasury liquidation

Ranger raised 2 million more than the initial cap, and allocating this capital should not slow down the development. In the case that allocated funds remain unspent. The team can pull them back with an additional proposal.

Logistics

$ 2M of treasury funds will be used to purchase RNGRtJMbCveqCp7AC6U95KmrdKecFckaJZiWbPGmeta (RNGR) tokens with a maximum price set at $0.78 per token. These orders will be placed every five minutes. The buyback will go on for an indefinite period until the allocated funds are exhausted (estimated 30+ Days).

The price per token reflects the current net asset value per token.

Specifications

Amount: $ 2M

Order Type: Recurring

Order Quantity: 8640

Order Frequency: 5 minutes

Maximum Order Price: 0.78

Estimated RNGR Purchased: 2.5 M, assuming full use of the buyback facility at the maximum order price

Process

This proposal includes instructions to execute a Jupiter recurring order as stated above.

Squads Transaction

Simulation

NOTE: Any funds remaining in the order (should it fail to complete its total number of orders in quantity) will remain in the DCA account until there is another proposal to cancel the order.

All RNGR tokens will be transferred to the DAO treasury

Redemption/Buyback cooldown period

No new buyback or redemption proposals shall be submitted or executed for 90 days following the passing of this proposal