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0x2b1a5E5544C2494E0f783bE3ce37243D208B52E5 -The Community Fund Managed by Pegasus Core Team.
The Dao Fund is our second protective measure on the top of the BONDS mechanism for the PES PEG.
It is managed by the developers and will eventually transition to a governance system that will allow them to vote on how funds are spent both within the project and outside of it, such as investment, marketing, and so on.
The following is information on the DAO:
- The DAO will commence buybacks when the PES TWAP falls below 1 METF. To avoid front-running, they will be done at a time determined by the core team and will not be announced until the protocol is back in expansion.
- When the PES TWAP is extraordinarily high, the DAO will sell some PES to aid in returning the currency to the peg and to prepare its reserves for buybacks below 1 METF.
- At the discretion of the core team, the DAO fund will hold a variety of assets.
- At the discretion of the team, the fund may or may not invest in safe projects to earn yield and grow.