Profits & Buybacks
Introducing Buy Zone and also details on Profit Distribution!
Hi Lovely Bakers,
🥐 Profits has been accumulated once again into our community wallet! With that, we would like to announce that we will be officially setting up a buy zone!
📊 What is a buy zone?
The Croissant team will be setting up a price support at $0.025. When $CROISSANT prices drop below $0.025, our team will begin buying up our CROISSANT tokens through the use of our gaming profits in our community wallet to provide price support. Our team will increase the price floor over time as our treasury profits increase, which will provide an intrinsic value to the $CROISSANT token that it cannot fall below. Naturally, the higher our treasury, the more likely that we will be able to enforce this price floor. So do go nuts with the gaming!! Check out the wallet below:
🧑💻 Every transaction will be transparent and you will be able to verify all our transaction data yourself!
What do we do with the $CROISSANT tokens that are bought back?
We will be storing it in the same community wallet, and we will assess the best opportunity to setup a CROISSANT redistribution pool that is in similar mechanics to a syrup pool/savanna on MMF! Note that all $CROISSANT tokens in the community wallet will be used for redistribution!
Why are you not automating the buybacks?
An automated system can be easily gamed by a series of bots that can potentially use our treasury as an exit liquidity. We exercise prudence, and use manual buybacks. In fact, a large portion of a price floor is to provide psychological support, on top of financial support. Knowing that there’s a price floor where funds will be used for buybacks is of higher importance than executing an immediate buyback when prices hit.
🥐 New Profit/Revenue stats — 19/01:
Withdrew 32,417 WRO
Withdrew 342,128 CROISSANT
Withdrew 15,416 MMF
Total games since last snapshot: 24463
Gas cost (1.3 multiplier): 31,801.9 WCRO
Cost in USD: $13,992.44
Sum of revenue in USD: $14,263.48 + $11,290.224 + $6,012.24
Sum of profits in USD: $17,573.504
💕 Because we love all you bakers so much, for this profit distribution, our team will be distributing 100% of the CROISSANT and MMF profits to you!
We will update all profit distribution in this section of our gitbook so you can check the history of every single payout: