Prop 40: [Signaling Proposal] Second Buy back and burn of $QSR tokens with Protocol Revenue

Proposal Summary

This proposal builds on the already passed Proposal 30 and continues the utilization of tokens accrued by the Quasar Protocol through Protocol Revenue for the purpose of purchasing $QSR tokens on the open market and subsequently burning them.

Details

The Quasar DAO has successfully burned 649,805 QSR tokens during the first token buy back and burn program. Since the last token burn approximately two months ago, additional revenue has been accumulated from performance fees associated with the Concentrated Liquidity Vaults featured on the app.quasar.fi platform and from POL market-making services.

The proposed action is to convert these various tokens from the Quasar Protocol into $QSR tokens, which will then be forwarded to the burn smart contract address. Following the on-chain approval of this proposal, the token burn is planned to be executed within one week.

The tokens designated for this burn are currently held in the Quasar Protocol’s protocol revenue wallets, specifically:

• osmo1vllrfyhr8y4xsljhuzegx9928kmfsn54sxwagqq63g4nhhafwpms0p67te
• osmo1xfq3h45ea77hk6mmr8kguqylm2nxqe3lc358y0p8aqnt8wnpffyqgn040n