The Indigo DAO has taken a number of steps to bring the INDY token closer to deflationary status by passing Proposal 86, the Indigo Dao Treasury Management Policies and Procedures v2. Among the changes, the Protocol Working Group (PWG) along with the Indigo Foundation were authorized to collaboratively manage emissions allocations. Since the proposal passed, INDY emissions are roughly half of what they were, INDY is up both relative to USD and ADA, and the minted supply of Indigo’s flagship product iUSD has increased.
Additional line items from the proposal included to “allocate 50% of funds towards buybacks” and “update the iUSD interest INDY staker portion percentage from 30% to 0%”. This provided more funds to allocate toward INDY buybacks to work in conjunction with the reduced emissions to achieve deflationary status more quickly.
This proposal is to authorize updating the interest INDY staker portion for the remaining iAssets to 0% as well to match that of iUSD and reallocate them towards buybacks using the Time-Weighted Average Price (TWAP) strategy outlined in Proposal 86.