r/TheDao•
eeksskee

DAO Token / ETH Arbitrage: What an Opportunity

Right now DAO tokens are trading at 90% of the value of the ETH that back them. I.e. on Shapeshift, you can send in 1 ETH and receive 110 DAO tokens back. 110 DAO tokens are redeemable for 1.1 ETH today and are backed by 1.12 ETH in total. This has me considering importing a crowdsale wallet I was never going to touch and using it to buy DAO tokens on Kraken. If I had ETH with a higher cost basis, it would be a no brainer. If I was long ETH for the long term, I would be buying TheDAO tokens at this discount and then helping fix the governance issues and redeeming issues (stalker attack). So long as it doesn't cost more than $18 million to fix, you will make a 10% return.

I just wish TheDAO itself could be the one buying back the tokens at such a discount and that that benefit could be passed on to all the staying DAO token holders.

Posted May 29, 2016, 9:01 PM UTC

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