On 8 April 2025, Cartesi announced the following:
"
The Cartesi Foundation is reaffirming its long-term commitment to the ecosystem through a strategic open market purchase of at least $500,000 worth of $CTSI
"
CTSI at current prices translates to the Cartesi Foundation acquiring 10 million $CTSI. Long suffering investors are well aware their investment into $CTSI is heavily at a loss (myself 75% loss) even though we’ve been buying from project inception, as we know our funds have been used to pay salaries, fund grants, fund hackathons, fund merchandise, fund strategic partnerships, fund exchange listings, fund Honeypot, i.e. fund everything to “keep the lights on” at Cartesi. We also assume that the $500k buyback is funded from our investor money, along with existing treasury balance.
So it therefore would seem unfair the Cartesi Foundation would come in at the end, buy a mega whale position, and dilute existing investor voting rights.
Seeing as VOTING is done on grants as little as $5k, I think it is therefore crucial for the community to be allowed to vote on the $500k buyback criteria.
VOTE:
- criteria of Cartesi Foundation buyback $500k $CTSI, such as: (1) market buy at prevailing prices with min $50k size, (2) escrowed for 99 years, (3) no voting rights, and (4) not staked/ no yield benefits to prevent accelerated token supply accretion
I hope the Cartesi Foundation listens and respects the community’s request for vote.
Community, please add your comments/ suggestions below. Thanks in advance.
Original Announcement:
https://x.com/cartesiproject/status/1909635229075005855?s=19