Currently the project is in a negative rebase death spiral.
Strong supporters have to remove their funds to cut losses.
Having to cut losses by selling YAM does undermine the idea of a community owned treasury and project, since the right to vote is lost.
Based on these findings the following proposal is made:
The community and core team to focus on a single action item: An emergency price recovery plan.
- Define an emergency recovery plan to bring the project back into positive rebase territory within two weeks
- All options on the table, e.g. use the treasury for
- Token buyback
- Paying Twitter personalities for promotion
To focus on this recovery plan the following additional actions have to be taken:
- Freeze all other development activities until the price is recovered.
- Freeze all other voting or proposal processes until the price is recovered.
This drastic proposal is made for two reasons:
- Most times just the announcement of the financial bazooka has an impact on speculators
- Positive rebases will fill the treasury, attract more community contributors and the project will have more resources, support and faith to build.