Maple release of MIP-021 proposal: proposed introduction of income-related rule-based buy-back mechanism

On 9 July, Maple issued a governance proposal, MIP-021, to introduce a rule-based buy-back mechanism linked to income. The proposals included the use of 10 per cent of the monthly income to buy back SYRP when the income was less than $1.5 million; 20 per cent of the monthly income to buy back when the income was between $1.5 million and $2 million; and 30 per cent of the income to buy back when the monthly income was over $2 million. All buyback operations will be transparent and will be decided by a governance vote. The proposal is currently in the feedback phase and polling will begin on 13 July。