Ranger (RNGR)

here's something you need to realize about futarchy:

bad proposals actually make governance better over time.

all the people who bought the pass market ended up with more RNGR in their wallets, which is now in the red.

as time goes on, bad traders will get rekt and stop making bad trades.

i know this is short term pain, but if we want markets to mature, this is kind of a necessary evil.

The @ranger_finance Buyback proposal just was accepted.

2m$ of buyback (2k$ every 5minutes) until it reach 0.78$ per $RNGR or 2m$ are spent.

IDK if it's a good thing or not (Depending on the side founders / investors you can find for and against argument.) but for sure the space will learn from that and iterate to improve !

I believe in the long-term perspective of @ranger_finance, but the current proposal for a $2M buyback destroys this concept.

I just voted against it, and here are 5 reasons WHY:

1) If this proposal passes, around 30% of the treasury will be WASTED for nothing. It is obvious to everyone that this proposal was drafted by a mercenary group of people who simply want to create break even exit conditions for themselves.

2) I checked the previous NAV buybacks (for @mtndao and @loyal_hq ) and BELIEVE ME this will only work for a short period of time. You can check for yourself what happened to their prices — nothing good.

3) $2M is a huge amount of money that can be used for acquisitions, team expansion, and, most importantly, faster and better product development. Product first, then price, not the other way around.

4) $RNGR has only been around for 3 days, and high volatility is normal for an asset with potentially high ROI. Expecting a 2-4x increase in your investment right away from a startup is very naive.