I calmly consider this idea again. If we decrease $ALD supply from 1B to 150M, I think we parallely need to set a backup plan to grow your treasury as Investment DAO because we give up $ALD as investment treasury in short-term. We don’t have “Geico” of Berkshire Hathaway yet, capital generation engine for token investment.
A key is how we can scale f(x) as fast as possible because the revenue is stETH, low risk asset in Web3. My long-term expectation for f(x) is to function like “Geico” of Berkshire Hathaway for Aladdin DAO. If f(x) goes to Stability Mode over one year in next bear cycle, f(x) cannot be “Geico”. Eventually, this $ALD supply reduction will make Aladdin DAO fail to scale. That’s very sad scenario which we want to avoid.
If we can pass my fee improvement proposal of f(x), I’ll support this idea because I believe Vol.4 Fee model will enable us to scale f(x) much faster in the next bear cycle.
For your reference, here is my Fee Vol.4 proposal of f(x).