Trying to wrap my head around something weird with a protocol's token holdings. So they apparently scooped up the first 6 fwog tokens way above floor price. Like, significantly above. One of them went for 2 ETH if I'm reading this right. Anyone familiar with how these protocol treasury buys actually work? Because this doesn't make sense from a purely economic standpoint. Was there some mechanism I'm missing, or is this just how automated buys execute sometimes regardless of market conditions?
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0xInsomnia
· 17h ago
NGL, this move is ridiculous. The protocol spends 2 ETH to buy floor-priced NFTs? There’s obviously some conspiracy theory or bot setup issue.
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NFTFreezer
· 12-08 22:03
Haha, how dumb is this protocol? You can still do this kind of operation after buying a fwog for 2 eth?
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nft_widow
· 12-08 21:54
Buy fwog for 2 ETH? Bro, there's definitely something fishy going on here.
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just_another_wallet
· 12-08 21:48
Buying a fwog for 2 ETH? That’s outrageous. Has the treasury lost its mind?
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ForkTrooper
· 12-08 21:44
NGL, this move is honestly a bit wild. Buying a fwog for 2 ETH? Has the protocol treasury gone crazy?
Trying to wrap my head around something weird with a protocol's token holdings. So they apparently scooped up the first 6 fwog tokens way above floor price. Like, significantly above. One of them went for 2 ETH if I'm reading this right. Anyone familiar with how these protocol treasury buys actually work? Because this doesn't make sense from a purely economic standpoint. Was there some mechanism I'm missing, or is this just how automated buys execute sometimes regardless of market conditions?