VVXTNLP Token arbitrage proposal

Dear Waves DAO Decision Makers,

I am writing to propose the allocation of a portion of our treasury funds towards an initiative to buy back VVXTNLP tokens. VVXTNLP is a LP token for vested accounts on vires.finance, which allows holders to receive XTN over a 500 day period by staking it. Currently, the VVXTNLP token is being traded on WX at approximately a 20% discount. By purchasing it and staking it back to Vires.finance, we can generate a 20% arbitrage profit over time in XTN. The same can be done with USDT/С Vires LP tokens, with an additional step of converting them to VVXTNLP.

The primary goal of this proposal is to increase the value of our XTN treasury by leveraging a simple arbitrage strategy. Additionally, this initiative will provide an opportunity for vested accounts on Vires to exit their positions if they so choose.

To execute the buyback, we will utilize a bot that will purchase VVXTNLP at market prices on WX and stake it back to Vires.finance. All XTN released from vesting will be sent to the Waves DAO treasury, allowing us to further grow our treasury.

We believe that this initiative presents a unique opportunity to increase the value of our XTN treasury while providing a beneficial solution for vested accounts on Vires. We kindly request your consideration and support for this proposal.

I suggest to allocate 1 million XTN for this proposal



For the proposal, the bot has to have a maximum buy price, for example 0.80 XTN. Buy limit orders are better then, buying at market price

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Maybe 0.9 -0.95 would do as well

I also suggest we calculate the treasury value in USD during the first 3 months period, since too few waves tokens have been invested.<

The arbitrage is not risk free if you want to calculate in USD.

(Your accountant will have something to do with this proposal :slight_smile: )

In XTN it is riskless
(and I don’t have an accountant :slight_smile: )

Well that was my suggestion to count in the asset used to invest, in this case XTN.
(You do know, the text in the grey box, I was quoting you)

Sasha, you announced for several months that the profits from this abitrage would go to the old markets on Vires, why are you changing your mind?

because we transferred all the funds to waves dao now.
if you decide we the dao can keep doing this

And if the community wants to spend that money on something else, then what? In the telegram you mentioned that there will be a proposal to share the profit from the Vires protocol to finally give some payouts to the old markets, what about this?

come up with the proposal, vote for it

They give POWER to those who have the money to buy it, to decide the future of those who have all their funds locked up in WX and VIRES (those who supported the platform), with their funds at risk. All Vires loans and -WXG token owners and those who have their transfers on hold must have the power to decide their own future.

they do, power was dropped to all vxtnlp holders on vires.

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I think this is a no brainer to grow the treasury right now.

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So we will stack 1 mln xtn in vires and will have 1.2 mln in 500 days correct?