PANews reported on June 11 that the Snapshot page showed that the Gnosis DAO community had voted to "implement a $30 million GNO buyback plan" with an approval rate of 81.9%. The proposal proposes to allocate about 5% of Gnosis DAO assets (mainly SAFE, ETH, and stablecoins) to fund the $30 million buyback plan, aiming to make the price of GNO higher than the book value.
The proposal suggests that the $30 million be divided into two equal parts, each allocated to a specific strategy: $115 million in CoW-TWAP orders, executed at any price below the dynamically calculated book value over a six-month period. $215 million at Karpatkey’s sole discretion, allowing them to take advantage of the most favorable opportunities. The proposal states that the specific details of the asset composition, trading venue, and financing repo method (for example, converting altcoins to ETH to be used for the program through market makers, over-the-counter transactions, or on-chain transactions) will be managed by Karpatkey.