Leslie from GBV here.
We do understand that the BOBA token will benefit from network usage sometime in the future, but as of now there is no practical mechanism doing this right now.
Keeping in mind:
- Any large structural change to gas usage could take a long time to implement(i.e. using BOBA to pay for gas using a relayer in addition to ETH)
- Staking and a more technically complete fee sharing program will take some time (at least Q1 2022)
- The network is currently cashflow positive (more ETH is gained than is required to secure the L1)
I would like to propose some solutions to bring value to BOBA holders:
- BOBA buyback program
- DAO to conduct BOBA buyback using 100% of ETH gas profits (L2 profits - ETH cost used to secure on L1).
- Weekly operations. ETH → BOBA and channel to a DAO controlled wallet
- Use BOBA from treasury to provide liquidity on bridges/swaps, and revenues all sent to a DAO controlled wallet, effectively removing those tokens from supply. This also has the benefit of increase bridging options to other chains,
These are less technically complete solutions, but importantly, quicker ways to bring value to the BOBA token. In the current crypto/defi environment it pays to move fast and be flexible, and this is a good way to start bringing value right now. It also shows the DAO and foundation mean business.
Would welcome more ideas (e.g. less than 100% in case costs exceed revenues, other ways to buy back, etc).