This proposal introduces a guaranteed minimum buyback mechanism for the SYRUP token, complementing the revenue-based buybacks implemented under MIP-19. The aim is to strengthen SYRUP’s value capture by providing:
-predictable and recurring buy-side pressure
-downside protection during low revenue periods
-stronger alignment between Maple, lenders, and tokenholders
-enhanced institutional credibility through clear, rules-based capital allocation
This mechanism mandates that at least 33% of the Syrup Strategic Fund (SSF) be deployed each quarter to buy back SYRUP, regardless of protocol revenue.
Fully support this. It’s is of utmost importance to have the certainty of allocation to SYRUP. I’d even suggest to do always a minimum 50% of the SSF fund.
So the diversification of the balance sheet can still happen but wouldn’t compromise on the value accrual to the SYRUP token. Having a minimum %share allocation for SYRUP buyback would always ensure alignment of the protocol growth vs the token holder incentive.
I’d also suggest including another utility for the syrup token:
Borrowers deploying a minimum of 1m SYRUP token to the staking contract can avail a discount on the IR. And progressively increasing the discount on IR for every additional 1m tokens deployed/locked.
Exact discount rate on IR can be TBD based on internal calculations by the team. But this would create a substantive utility of the SYRUP token and drive a demand flywheel for the token.
I’m in full support of this proposal. A defined quarterly buyback commitment would add structure and predictability that the current approach can’t always provide. If it goes through, it also signals that the team has a clear stake in seeing the token hold and grow in value over time, since part of their capital allocation becomes directly tied to SYRUP.
One thing I’d like to understand better: does allocating 33% of the SSF each quarter roughly line up with about 10% of present revenue, or is the relationship different than I’m assuming?
In full support of this proposal as a happy middle ground to provide the team flexibility with respect to the remaining 2/3 of the SSF each quarter while providing assurances that there will be a minimum buyback percentage.