Why was it decided to do a buyback and then redistribute in YAPE. What if we switched to DAI?
I believe if we used DAI it would give the investor a few options:
Option 1: convert the DAI into cYAPE which represents, true, long-term belief in Yapeswap. (HIGHEST YAPE APY)
Option 2: Convert back in YAPE to either swap for more veYAPE or maybe throw into the YAPE/ETH pool. Both creating buy back pressure.
Option 3: swap DAI for other tokens on the protocol creating more fees for LP’s.
We could also implement an additional burn, where a certain percentage of the buy back goes to burning YAPE tokens.
The veYAPE which once was YAPE is being burned slowly over the lock period of the investors choosing.