Hey! Thanks for the proposal!
I agree that profit-sharing is the direction most DAOs will, and should, take.
However, since Nostra is still in its early stages, allocating 100% of profits to a buyback program doesn’t seem like the wisest approach. Imho at this point, the buyback program could serve only as a symbolic gesture of commitment to profit-sharing, and for that, 10% should suffice.
That said, I think the bigger question here is how this proposal could be implemented given that 100% of protocol revenue currently goes to Nostra Labs (as outlined here: Elect Nostra Labs as the service contractor of the Nostra DAO for the next year). Are you essentially proposing to override that decision?
It would be great to hear from Nostra Labs on this. From a governance perspective, do you think this proposal, if passed, would redirect Nostra’s profits to the buyback program, or would the DAO need to remove Nostra Labs as the service provider first?