###### tags: `Fingerprints DAO` `Governance`
# Proposal for an Ongoing Buyback System

## Context

Given recent below-NAV trading for the $PRINTS token it has become consistently profitable for Fingerprints (or anyone) to purchase its own token.

However, there isn't a pre-established buyback system in place, forcing each buyback to occur in an unpredictable and costly ad-hoc manner.

This proposal seeks to establish guidelines to allow buyback actions from the DAO, resolving many issues currently keeping the market price of $PRINTS below its otherwise fair value, which are detailed in the further reading section.

## Proposal

1. Allow buybacks to be constantly made by the staff up to the $PRINTS price at the NAV which values the collection through the "*highest current bid with tier premiums*" method;
2. Publish daily updates of the current NAV calculation through the above method;
3. Allow the liquidation of the following collections to sustain the buyback program should the DAO's cash balance fall below **6 months worth of the DAO's monthly expenses** (a threshold currently equal to 144Ξ):
a. Meebits

## Further Reading

For more details on the buyback discussion, please refer to [this document](https://hackmd.io/@lucaspon/HJB161NRh).