Treasure is a creative design in yam project. But it seems that the treasure system need to be modified.
First, the treasure can’t grow in a negative rebase. And it does little to improve yam from the negative rebase spirals
Second ，The treasure is less efficient in a positive rebase ,according to the data after yam v3 online . Because in a positive rebase treasure simply sell out all the yam immediately ,which make yam to a negative rebase quickly. So There is less time for the treasure accumulate more .
Here is some suggestions for modification:
Modify the mechanic that selling yam. Treasure should auction the yam after rebase ,instead of selling yam simply. The yam auctioned need be locked for 90 days. The holders buying yam from treasure have the options transferring twice the amount of yam from his wallet to a address, where the yam can’t be negative rebased.The yam transferred to the address also will be locked 90days.
The initial price for auction each time .When in a positive rebase, the initial price can be set to the market price or little lower than the market price. When in a negative rebase, the price can be set at 1usd
In a negative spirals ,how can the treasure accumulate. First the treasure can buying yam from market ,Because it’s in a negative rebase,the treasure can buy yam from market at a price lower than 1usd. And the treasure auction the yam in 1 usd . The price gap will make the treasure grow in a negative rebase.Then in a negative rebase,some holders may want to avoid the negative rebase,they may join the auction. And holders want to join the auction must buy at least 100 yam from the market,which will make the yam price rising gradually.