Debt deal validation

Quorum: 300,000 votes

—Summary—

Validate or not the deal that we’ll propose to potential creditors.

—Proposal—

The deal will be proposed with the following conditions and terms:

• Maximum debt that we can raise: $500,000;
• Maximum TAN allocation for creditors: 4% of the total supply (0.08% per $10,000);
• Fixed interest rate: 15% ($575,000 to repay if we raise $500,000);
• The debt is repaid over time every month, without any deadline (no fixed time-based clause that commands Tangent to repay the loan within a pre-defined period);
• Protocol’s revenue used to repay the debt: 15%;
• The percentage of the protocol’s revenue used to repay the debt can be re-evaluated each year, once per year, starting one year after tgUSD’s launch;
• Creditors’ vesting will have the same terms as anyone else at launch;
• Creditors will benefit from a 1.25x boost during the tgUSD’s point campaign.

—Vote—

• Adopt the terms
• Rework the terms
• Abstain