about avax price action: DATs are actually a net good for the token when you buy tokens as a DAT, you're buying it a bit like a fund would you have a time window in which you need to make your LPs happy and just like with funds, LPs for DATs expect a 5-10x from their investment to justify it so DATs are actually very much incentivized to find ways to make the price of avax go up i don't remember, and i don't even want to make real-world examples, but let's say a DAT raises 1 billion dollars to buy AVAX from a mix of OTC and market over 5 years in order for the DAT to be profitable in itself, it needs to buy some tokens at a discount and some at market price, so it's lowering their avg buying price so let's say this DAT buys 1 billion dollars of AVAX (which in this example is at 20$), at 10$ at its inception, so it has 2 billion dollars worth of AVAX at that time in this simple case, the DAT is valued at 2 billion dollars and it's mNAV is 2 billions (1X mNAV) the goal of the DAT is to make its LPs very happy with a 5-10x ROI, so at the end of the 5 or 10 years, in an ideal world, it needs to have a 5 or 10 billion dollars valuation with the same 1x mNAV or even less so what it does? at its inception, not only it says that has bought tokens at a discount, but it also says that LPs who chip in will buy equity of the DAT at a discount! So LPs are VERY interested in buying that this ofc don't always happens, bc a token may be very much requested by wall st and LPs buy equity at 1x mNAV but in cases in which the DAT needs to convince LPs, it may provide a discount on the equity, so that if the LP wants to cash out, they can have a small profit right away (if there's a counterpart to take that equity ofc) even in these cases that i mentioned, the DAT still needs to make that 5-10x, so it's INCENTIVIZED to make avax price go up in any way and this is how DATs work, thank you for coming to my ted talk
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