Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

post ETO convertible note conversion #134

Open
rudolfix opened this issue Aug 8, 2018 · 0 comments
Open

post ETO convertible note conversion #134

rudolfix opened this issue Aug 8, 2018 · 0 comments
Assignees

Comments

@rudolfix
Copy link

rudolfix commented Aug 8, 2018

This allows to tokenize off-chain pre-eto round. Pre-liminary solution before platform offers such service as a product.
It works as follows:

  • company provides a list of investors, for each a number of equity tokens created is specified (allocation list)
  • company specifies convertible note token price (it's also specified in prospectus which is public document so it always may be audited)
  • company sets up allocation in token controller
  • company makes allowance in Euro and Ether Tokens for the Token Controller that allows to pay fee to NEU holders.
  • platform operator legal representative executes the allocation after checking if token price matches prospectus
  • such execution will: (1) issue new tokens to investors on allocation list (2) pay 2% fee in tokens to NEU holders (3) pay 3% fee in Euro and Ether to NEU holders (4) generates NEU for the investors on the current curve (money in - NEU out)
@rudolfix rudolfix self-assigned this Aug 8, 2018
Sign up for free to join this conversation on GitHub. Already have an account? Sign in to comment
Labels
None yet
Projects
None yet
Development

No branches or pull requests

1 participant