When the reserve MultiSig buys back stables from market makers in OTC trades, the cLabs burn bot has been slowly burning large amounts of them in the past, and then sending the received CELO back to the reserve. This is a bit of a pain an continuous push down of price in the constant product AMM.
A more efficient way could be to expose the stable token burn function publicly, such that anybody can burn stables in exchange for nothing, which is the same as receiving CELO and sending it back to the reserve.
Definition of done
Answered the question: Is there a good reason for letting only the exchange / broker burn stables?
Description
When the reserve MultiSig buys back stables from market makers in OTC trades, the cLabs burn bot has been slowly burning large amounts of them in the past, and then sending the received CELO back to the reserve. This is a bit of a pain an continuous push down of price in the constant product AMM.
A more efficient way could be to expose the stable token burn function publicly, such that anybody can burn stables in exchange for nothing, which is the same as receiving CELO and sending it back to the reserve.
Definition of done