# GNO Buybacks

## Overview
This proposal recommends that karpatkey implement strategic GNO token buybacks to bolster the ecosystem and enhance the token's value. By executing GNO buybacks, the Gnosis team will demonstrate its commitment to the long-term success of the ecosystem, fostering confidence among community members.

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## Rationale
The GNO token is currently trading at approximately 0.057 ETH, which we believe is substantially undervalued given its potential. As the Gnosis ecosystem expands and evolves, maintaining the relevance and utility of the GNO token is crucial. This proposal aims to address this concern and ensure the GNO token remains an essential aspect of the platform.

### Benefits of GNO Buybacks
- Improved Utility: Allocating a portion of the tokens acquired through buybacks to support new use cases or enhance existing ones can help improve the token's utility, thereby driving demand and increasing its overall value.
- Long-term Commitment: Conducting GNO buybacks will convey to the community the Gnosis team's dedication to the platform's long-term success.
- Price Support: Buybacks can provide price support for the GNO token, reducing selling pressure and potentially increasing the token's value.
- Enhanced Perception: Implementing buybacks can boost the market's perception of GNO as a valuable asset, attracting new investors and fostering confidence in the token's future prospects.

## Implementaion

To execute the buybacks, partially fillable limit orders will be placed through CowSwap on Gnosis Chain. These orders will be modified over time based on market conditions.

## Funding

The proposed buybacks can be financed through the yield currently generated by the DAO, ensuring a sustainable buyback structure. According to the most recent treasury report, GnosisDAO generates approximately $250,000 to $300,000 in weekly revenues. A portion of these yields could be allocated to facilitate ongoing buybacks.