Agree with the buyback to stakers approach, that buys SYRUP selling pressure from drips incentives and distributes it to long term SYRUP holders (stakers).
On the starting buyback percentage, a (conservative) ~$5M ARR for 2025 would still be below ~$6M Maple Labs expenses, resulting in the need to sell ~$1M worth of SYRUP from the inflation allocation to protocol treasury. If 20% of ARR is distributed to stakers, the amount to sell goes up to ~$2M worth of SYRUP.
So looks like distributing before breakeven is going to result in increased SYRUP selling pressure, unless:
- ARR for 2025 ends up being above Maple Labs expenses (at least) by the buyback percentage, so ~$7.5M for ~$6M expenses.
- Any shortfall between ARR and expenses is covered by Maple Labs fiat funding or paid in SYRUP to team member that are likely to hold.
Attach some rough numbers below.
