MOR Spell AVAX/BSC Discussion

With the spells for BSC and AVAX coming very shortly it’s a good idea to work out a # that the community agrees on.

Factors to consider:
-Buffer of min 10k
-WHEAT 20k MOR airdrop on both chains
-veGRO MOR distribution is at least 2 weeks past it’s 4 week 80k MOR distribution timeframe if it comes on the 16th and longer overdue obviously if it comes after.

Current Surplus’s for BSC and AVAX are:

  • 131,298.05 BSC
  • 151,445.92 AVAX

Calculations
We’ll use a rounded # for simplicity
130000 BSC
150000 AVAX

BSC
130000

  • 10000 for Buffer
  • 20000 for WHEAT airdrop
    =100000 MOR available for distribution

AVAX
150000

  • 10000 for Buffer
  • 20000 for WHEAT airdrop
    = 120000 MOR available for distribution

With the #'s figured out we can now decide how much we’d like to be distributed. My personal opinion as well as a couple friends I’ve talked to is with current GRO price/valuation it makes perfect sense to distribute the full available amount because the large majority of it goes to the longest term holders and speaking for myself 100% of the distribution I get will go back into buying back GRO with it being criminally undervalued.

Would love to hear thoughts.

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Some things to consider:

  • Currently a 10,000 buffer should be enough to kickstart things, I agree.
  • For BSC you need to also consider the MOR Yield payment to ApeSwap which would likely be in the 20-25k range
  • Besides that I agree that we can distribute the rest of the surplus to veGRO holders
  • For future surplus growth we should discuss a distribution between how much to keep as a buffer and how much to distribute, surplus can not only be helpful in cases where the protocol loses money but also to fund development expenses without needing to put tokens into circulation, treat the surplus buffer as the cash balance of the DAO.
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Yeah great points, I def agree on focusing payments around the buffer overtime cash balance that also generates revenue.

Forgot about MOR Yield, Idk if the 20-25k is generous in terms of total revenue they’ve driven for us? But even if it is I’m on board because the #1 thing IMO is building a great rapport and incentive for our partners to hopefully attract others when they see the performance of literally just holding our stable coins. So much potential in that model.

I agree so basing it on those #'s
BSC
75-80k MOR for veGRO distribution + 20-25k MOR Yield for ApeSwap + 20k for WHEAT Airdrop = 120000

AVAX
afaik no yield program live yet, So #'s above still stand ~120k that can be paid out. But priority to me over the payout is to make sure expenses can be covered with everything so can you run through aprx #'s to maintain without introducing any GRO into circulation? say for 3 months

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I think this makes sense for the initial distribution. For future distributions, I liked the formula that Rando proposed based on a percentage of the surplus going forward. I believe the formula was 85% of the net surplus gained since the last distribution. This allows the surplus to grow while also paying out a decent percentage to veGRO holders.

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Yup 85% after MOR yield deductions. Fully Agree with that :ok_hand:

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It’s in the middle between fair and generous, personally I think it’d be a good gesture given that they have been great partners since the start.

I am personally very bullish on the potential revenue that the AMO + bribe combination can bring so I’d be comfortable with those distributions if we keep in mind that the buffer should also grow with future incoming surplus, we don’t want to get caught with our pants down…

I’d be more inclined towards 70% rather than 85% and distributing something extra as a bonus if it ends up not being needed and the cash pile becomes too big (for reference Qi DAO distributes 50%).

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All of that sounds good like it a lot! Juicy AVAX payout :star_struck:

I think 70% is reasonable. I am all in favor of building up the surplus!

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I agree 70% sounds reasonable. The distribution and would be a good will to the long term support of people.