N3GOV-22: Issue over-collateralized bond to raise 370,000 USDC for Solar Guild funding

Background

A proposal 5 has been made to establish the Solar Guild - a “two-pizza team” comprised of full-time members exclusively focused on advancing the Nation3 mission. Specifically, according to the recently published roadmap, the Guild would focus on:

• efficiently bringing to market new products like the Court;
• issuing the next iteration of Passports;
• drafting the Nation3 Constitution;
• establishing the Guardian Guild;
• integrating all Nation3 apps into one monorepo;
• maintaining key infrastructure services for Nation3;
• driving brand recognition & community building.

Proposal

Sell a bond to raise the USDC necessary to fund the Solar Guild for the next 6 months, with the following terms:

• Amount to raise: 370,000 USDC
• Maturity date: 360 days
• Collateral: 1300 $NATION (roughly 250% collateralization ratio)
• Platform: PWN

In PWN, once the offer to sell the bond is posted, buyers can publish their counter-offers stating their desired interest rate.

The Meta Guild multisig will be responsible for receiving the collateral, creating the offer in PWN and accepting the best counter-offer. The best counter-offer shall be the one with the lowest interest rate that can cover the desired amount, proposed during the first week after the bond is posted.

Once the Meta Guild has received the USDC, it will hold it while the Solar Guild proposal goes through formal governance vote. If the Solar Guild proposal passes the vote, the Meta Guild will send the funds to the Solar Guild multisig.

Once the DAO has USDC to pay back the bond, a new governance proposal will be needed for the DAO to send funds to the Meta Guild multisig, for the amount to be paid back.

The North Star Metrics

The proposal directly affects our North Star metrics, as it effectively dedicates a full time guild towards their achievement. The Solar Guild OKRs specified above aim to increase the total value secured by the Nation3 jurisdiction - e.g. bringing to market the Nation3 Court and introducing more checks and balances through the Nation3 Constitution and the Guardian Guild.

The issuance of more Passport types, as well as community building and increase in brand recognition will increase the citizen base, and with it, the number of active citizens.

This is the pull request on the governance repo with the actual proposal.