I really like this idea and support this approach. The mechanics that make it auto-adjust to the market after each cycle is intuitive, and its important to remember we have the arb bot that will add value along the way, along with making the whole process efficient towards the protocol.
Mark commented at the end about the impact, and I fully agree. The way I’ve viewed this is a way to reduce BNT supply, not a mechanism by which to move markets. Clearing the excess BNT supply from last year solves many problems at once, and to be clear I see it as one necessary component to right-size the protocol. To that end I view this whole POL exercise as an accelerated means to that end.