💰2. Treasury Management governance: token buyback

Token Buyback Program

In 2022 Forj will be building a community treasury where we would convert a % of profits from these invested tokens into $BONDLY tokens.

Below is the breakdown of the inflow:

• 25% of the fund would be used toward purchasing $BONDLY tokens for liquidity that are locked permanently*

• 5% would be sent to the Forj Vault (for community vote)

Percentage would be subject to change through DAO voting. The vote would take place in snapshot.org. $BONDLY holders can get to vote ratio of LP tokens, operational expense and incubation treasury. Incubation treasury includes yield opportunities in Aave, Compound, Terra, Cosmos staking, and purchasing tokens in private rounds. The token purchase would be solely used for providing liquidity for ETH, BNB, Matic pools. Liquidity tokens would be locked and it would not be taken out once established.

Forj Vault

A wallet of $BONDLY tokens that reflect a % share of NFT sales made by Forj are stored in a community wallet called The Forj Vault. This was proposed in Q2 2021 and since then the wallet has grown to a size of 500k $BONDLY tokens. Our community will have the ability to determine how this is spent using snapshot.org, with voting power influenced by token holdings.

Benefits for $BONDLY token holders

• Token holders have a direct say on what is the best use of purchased $BONDLY tokens for the good of the Forj ecosystem

• Token price is better supported and strengthened through token buyback programs

• Potential for larger organizations to purchase $BONDLY tokens, which are set aside for operational expenses, over the counter (OTC) under strict vesting conditions to enable greater collaborations while further locking up tokens and reducing selling pressure.