Snowcat DAO (🐆,🐆)
Welcome to Snowcat DAO, a Special Purpose DAO (SPDAO) on the Avalanche (AVAX) C-Chain Network! Snowcat brings the concept of fast-and-furious 8-day "layers" to the DAO world. After operating under the standard DAO mechanics of staking and bonding for 8 days, 80% of all non-LP treasury funds will be used for buybacks on day 9!
- Staking rewards are given on days 1-8
- Bonding/minting is available on days 1-5, building the treasury (3-day vesting)
- Regular treasury withdrawal is disabled; admins have no access to treasury funds
- After 8 days, no more new SCAT tokens can be added to the supply. The amounts in all treasury bonds besides SCAT-DAI are calculated, and buybacks are performed by a special admin function
- 80% must be used for SCAT buybacks on the untouched SCAT-DAI LP within day 9
- 20% is sent to the contract operators
- At least one of the buybacks will be a HUGE BUYBACK
- If any buyback funds remain unspent after day 9, a publicly callable function can conduct all remaining buybacks
- After all buybacks are complete, SCAT becomes the meme token of the Avalanche ecosystem
Snowcat DAO is an exciting short-term financial game the likes of which had never been executed properly until MiniPanther, the team's previous short-term DAO. Unlike Snowdog DAO, the Snowcat/MiniPanther code directly ensures that all buybacks are made with transparency and fairness!