I have some additional context on this scenario.
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We believe that we will receive a large amount of wETH back into the Enzyme vault shortly. Not counting the chickens until they hatch, but optimistic here.
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Enzyme is unwilling to do the swap on our behalf. However, they can add a wallet address to act as a manger. I would propose the community multisig. They will then sign a message to buy the wNXM as discussed. Then, we will send the wNXM to the community fund multisig. I believe it’s already a member, so it can swap the wNXM to NXM. Then, if we decide, they can call the NXM burn function to destroy those tokens. My suggestion is this vote should only be for the buyback, with a separate vote after the fact to decide whether to burn the tokens or use in some other manner. I know there’s some parties who prefer not to burn, but would buyback, so I don’t want to reduce the likelihood of a buyback vote passing by introducing the component of “what to do next”. None of these steps require any calls from our smart contracts, which is nice.
@Hugh or @rox will be necessary to give some context on to whether this is an acceptable technical solution. The main concern I can see would be, what happens to the oracle we’re referencing if we do this, and what is the risk of manipulation of wNXM price to throw our smart contract internal asset value off.