We passed on this bond issuance below but still awesome to see @ribbonfinance issuing convertible bonds on Eth Mainnet using @porterfinance_
"Bonds For DAOs"
It's a thing.
"Bonds For DAOs"
It's a thing.
See, most of the large (DeFi) DAOs have their total treasury value in their native token. They can't really sell it (perhaps OTC), but they do need to a) diversify their treasury and b) raise cash for operational purposes.
I know @debtdao are building some interesting stuff in this space, i.e. a debt marketplace for DAOs, complete with automated verification of project cash-flows to help identify credit worthiness/set out loan terms.
and whilst they are still shipping, this convertible bond is right here, right now. Pretty cool. Here's the credit analysis that myself, @_iammarkc and @juanbugeth went through at the weekend before we made our decision on whether to participate or not:
app.porter.finance
app.porter.finance
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