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teleo-codex/decisions/internet-finance/loyal-buyback-up-to-nav.md
Teleo Pipeline f70720aa78 reconcile: mark 312 archive sources, add 300 bidirectional links 
- 131 sources → processed (matched to decisions/entities by proposal hash)
- 72 sources → null-result (test/spam)
- 109 sources → null-result (futardio unmatched, no KB output)
- 91 sources kept unprocessed (genuine backlog: health, ai-alignment, space-dev, etc.)
- 117 decisions get source_archive backlinks
- 131 archive sources get derived_items forward links
- Linking pattern: frontmatter only, file paths as identifiers (Ganymede Option A)

Script: reconcile-sources.py (proposal hash matching + entity name matching)

Co-Authored-By: Epimetheus <noreply@pentagon.ai>
2026-03-27 13:40:24 +00:00

4.3 KiB
Raw Blame History

type entity_type name domain status parent_entity platform proposer proposal_url proposal_date resolution_date category summary tracked_by created source_archive
decision decision_market Loyal: Buyback LOYAL Up To NAV internet-finance passed loyal futardio Loyal Team And Community Members https://www.metadao.fi/projects/loyal/proposal/2VjKHNQdkLfHtoH1GtPVseJv1kP3VUoLGcZLc29SttgS 2025-11-26 2025-11-29 treasury Allocate $1.5M USDC for LOYAL buyback at max $0.238/token to protect treasury against liquidation arbitrage rio 2026-03-24 inbox/archive/2025-11-26-futardio-proposal-buyback-loyal-up-to-nav.md

Loyal: Buyback LOYAL Up To NAV

Summary

Loyal team and community members proposed $1.5M USDC buyback of LOYAL tokens at maximum $0.238/token (NAV minus two months operating expenses). Executed via Jupiter recurring orders (8,640 orders, every 5 minutes, 30 days). Motivated by LOYAL trading below NAV, exposing treasury to adversarial liquidation arbitrage. Includes 90-day cooldown on new buyback/redemption proposals. Team expects significant portion of allocated funds to remain unspent.

Market Data

  • Outcome: Passed
  • Proposal Account: 2VjKHNQdkLfHtoH1GtPVseJv1kP3VUoLGcZLc29SttgS
  • Duration: 2025-11-26 to ~2025-11-29
  • Buyback Budget: $1.5M USDC
  • Max Price: $0.238/token
  • Estimated Purchase: 6.3M LOYAL at max price

Significance

Second instance (after Ranger) of MetaDAO-launched projects deploying treasury buybacks to defend NAV. The pattern is becoming standard: launch → token trades below NAV → buyback proposal to prevent adversarial liquidation. The 90-day cooldown clause is also becoming standard governance practice.

Relationship to KB

Full Proposal Text

Source: metadao.fi, tabled 2025-11-26. Authors: Loyal Team And Community Members.

Type: Operations Direct Action Author(s): Loyal Team And Community Members

If passed, $1.5M USDC of treasury funds will be used to purchase LOYAL tokens with a maximum price set as 0.238 per token.

Motivation

While LOYAL is sitting below NAV, our treasury is an arbitrage opportunity for adversarial capital. We want to protect the treasury against liquidation and ensure we can continue building our vision.

This allocation of capital would allow us:

  • Protect our holders who want to see us build our vision.
  • Accumulate tokens for OTC deals without increasing the supply.

We raised more than our initial cap, and allocating this capital does not slow down our development. We expect a significant part of the allocated funds remain unspent. We'll pull them back with an additional proposal.

Logistics

$1.5M of treasury funds will be used to purchase LYLikzBQtpa9ZgVrJsqYGQpR3cC1WMJrBHaXGrQmeta (LOYAL) tokens with a maximum price set as 0.238 per token. These orders will be placed every five minutes over a period of 30 days (for a total of 8640 orders).

The price per token was established by taking the total funds raised minus two months of operating expenses. It does not account for any trading fees accrued from liquidity.

Specifications

  • Amount: $1.5M
  • Order Type: Recurring
  • Order Quantity: 8640
  • Order Frequency: 5 minutes
  • Maximum Order Price: 0.238
  • Effective Time Horizon: 30 days
  • Estimated Loyal Purchased: 6.3M assuming full use of buyback facility at maximum order price

Process

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

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 LOYAL tokens will be transferred to the DAO's treasury: AQyyTwCKemeeMu8ZPZFxrXMbVwAYTSbBhi1w4PBrhvYE

Redemption/Buyback cooldown period

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

Raw Data

  • Proposal account: 2VjKHNQdkLfHtoH1GtPVseJv1kP3VUoLGcZLc29SttgS
  • Proposal number: 1
  • DAO account: GxpJkPEsPmuRCCTNnfZaDKg4X3gf4ZPgmqgFqtibaPtK
  • Proposer: tSTp6B6kE9o6ZaTmHm2ZwnJBBtgd3x112tapxFhmBEQ
  • Autocrat version: 0.6