# Proposal: Use protocol owned ETH to buy and burn BNT from the markets

**URL:** <https://gov.bancor.network/t/proposal-use-protocol-owned-eth-to-buy-and-burn-bnt-from-the-markets/4491>\
**Category:** DAO Archive (SUBMITTED)\
**Created:** [October 23, 2023, 5:50am UTC](https://gov.bancor.network/t/proposal-use-protocol-owned-eth-to-buy-and-burn-bnt-from-the-markets/4491 "2023-10-23T05:50:23Z")\
**Posts on this page:** 1\
**Showing post:** 31

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**Author:** ![foxsteven](https://avatars.discourse-cdn.com/v4/letter/f/838e76/32.png) [@foxsteven](https://gov.bancor.network/u/foxsteven)\
**Post date:** [October 25, 2023, 7:46am UTC](https://gov.bancor.network/t/proposal-use-protocol-owned-eth-to-buy-and-burn-bnt-from-the-markets/4491/31 "2023-10-25T07:46:40Z")

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Hi @alphavalion ,

Firstly, thank you for putting up this proposal. While I have a different opinion when it comes to the mechanism design - our goals are aligned.

> [@alphavalion](#):
>
> If someone wants to put up a competing proposal with other amounts they can do so. Bancor is a DAO and anyone can participate.

I have posted a competing proposal. I chose the same date for snapshot so they can be voted on at the same time for maximum fairness.

> [@Proposal to Use POL to Reduce B3 Deficits](https://gov.bancor.network/t/proposal-to-use-pol-to-reduce-b3-deficits/4502):
>
> Proposal to Use POL to Reduce B3 Deficits Expected on Snapshot on November 5th, 2023 TL;DR This proposal is following discussions in the DAO [https://gov.bancor.network/t/consolidating-recent-proposals-by-alphavalion/4330/](https://gov.bancor.network/t/consolidating-recent-proposals-by-alphavalion/4330/)[https://gov.bancor.network/t/proposal-efficient-utilization-of-pol-proceeds-for-pool-closure-and-bnt-burning/4488](https://gov.bancor.network/t/proposal-efficient-utilization-of-pol-proceeds-for-pool-closure-and-bnt-burning/4488) Carbon POL has just under $3M of value at the time of writing [https://etherscan.io/address/0xD06146D292F9651C1D7cf54A3162791DFc2bEf46#tokentxns](https://etherscan.io/address/0xD06146D292F9651C1D7cf54A3162791DFc2bEf46#tokentxns) Data for co…

One last comment, I greatly appreciate your contributions at @alphavalion - I think your recent proposals are pushing this DAO forward.

Great work 💪

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_[View the full topic](https://gov.bancor.network/t/proposal-use-protocol-owned-eth-to-buy-and-burn-bnt-from-the-markets/4491)._