Umbra (UMBRA)

Great proposal by @UmbraPrivacy

Right now, the Meteora pool is badly balanced.

➝ There’s a lot of UMBRA and very little USDC. That creates weak trading conditions.

They plan to pull everything out, reset it, and rebuild a healthier pool.

➝ At the same time, they carve out 1M UMBRA to sell directly to selected, aligned investors through OTC deals.

➝ One fund, Theia, already committed $ 300K at $0.45 (paying a premium vs the ~$0.41 current price).

If price goes down, they still won’t sell below the $0.41 floor.

➝ After removing liquidity, they rebuild a new pool with ~500K UMBRA and matching USDC. The pool becomes balanced instead of one-sided.

➝ Any excess UMBRA from the extraction gets burned. Any unsold portion of the 1M OTC allocation also gets burned.

➝ All USDC raised goes to the treasury, except what’s needed to seed the new pool.

➝ If the withdrawal doesn’t cover both the 1M OTC allocation and the ~500K for the new pool, they can mint additional UMBRA (capped to the required total).