Next Actions -- Starlay Finance

[Chest]

Hi Dennis,

Thank you for the inquiry.
To simply answer your question, the liquidity provision was already carried out with approximately $11M ASTR and $27M LAY.
Any further operation on this is yet to be planned, be it withdrawal of the asset provided or additional provision.

But the context seems a bit complicated for everyone including us. So let me try to clarify the situation below by separating 2 different things: buyback and liquidity provision, even this post gets too long to simply answer your question.

For the buyback, which you replied to, has nothing to do with the asset you mentioned; 11M aprox, astr, 500k usd

Next Actions -- Starlay Finance

Thank you for the comments here so far. We have received a lot of reactions from the community and would like to clarify the following actions for our misleading behaviors. These are not decisions already made by the core team, they are suggestions from us and we will decide them with the community after this. Starlay Finance will offer 1.5x LAY to all addresses participating in the second token sale. The decision trying to accept the whale investor has caused significant confusion in the co…

As is shown here, we did/will do the buyback with the $4M ASTR raised in the IDO + dApp staking rewards.
and we already used more than $2M ASTR on that.

Next Actions -- Starlay Finance

Hello all members of Astar Network and all Starlay users Please let us share that Starlay and Astar teams have done the buyback using a half of 4M ASTR and providing $1M worth of liquidity. As we analyze recent price movements of LAY, we decided to use $2M ASTR instead of using all of them. Planning to conduct another buyback using the remaining ASTR in the near future. Hope this helps to stabilize LAY. And benefit all LAY holders and Astar Network as a whole going forward. Thank you.

Next Actions -- Starlay Finance

Hello to the community of Astar Network Please let the Starlay Finance team announce that we have just done the buyback of July using dApp staking rewards using more than 300K ASTR. Hope this will support all LAY holders and Astar Network going forward. Thank you.

For the $ASTR left to be used for further buybacks, we are currently pending the operation due to the market condition as explained here.
The future of the market is still quite unclear, which makes it a bit too difficult for us to let you know when it will be happening.

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Regarding the liquidity provision, as discussed in this forum, it’s slightly different from what should be explained as “Starlay borrowed ASTR from astar core-team”, in a sense that it’s in the wallet under the control of Astar core-team. You can check the detail here.

Providing Liquidity for LAY

We announced that Starlay Finance would be buying up LAY in this post. All 4M ASTR ($240,000 at the time of writing) collected at the IDO will be used to buy back LAY. In addition, all rewards earned by Starlay Finance from dApp Staking would be used to purchase LAY permanently. This will create permanent buying pressure and this becomes a factor that drives up LAY’s price. We believe that these actions are beneficial to all LAY holders, including IDO and Auction participants. We would like to …

ttps://forum.astar.network/t/providing-liquidity-for-lay/3540/84(※ I can’t put more than 5 URLs, so pls add “h” at the beginning of the URL)
And, the context of using the fund of Astar core-team is as written in this post and the following threads.
ttps://forum.astar.network/t/providing-liquidity-for-lay/3540/38(※)

this should be the proof of the operation.
ttps://forum.astar.network/t/providing-liquidity-for-lay/3540/125(※)

And as you mentioned, you can check the balance of the account which is managed by the Astar core-team.
ttps://blockscout.com/astar/address/0x9fea791E2Df819d209F9a60078a5258F0F2c547C/transactions#address-tabs (※)

If you have any further inquiry or feedback, we are always open for that.
Thank you so much!