GDP-999ac - GDP1 (Mordor): Bond 1

ghostDAO Governance
1

Dear ghostDAO Community

I would like to submit a proposal.

Function 1
create wmETC Bond on ghostDAO (Mordor) - Bond 1.

Market Price is 11.0048 wmETC (~ $93.00 DAI).

There are 2 main objectives:

  • Distribute eCSPR to more users after the launch of ghostDAO

  • Dilute Market Cap-to-RFV ratio

The Bond will start its offering at par to the market price. But the discount will keep increasing based on the programmatic Dutch Auction rules.

Bond 1 Specs: #bond1

Initial Bond Price = 11.0048 wmETC (~ $93.00 DAI)

Capacity = 82.58 wmETC (~700 DAI) into Treasury

Target Deposit Interval = 1 Hour

Tune = 24 Hours

Market Duration = Until 11:59:59PM EST on Wed, Mar 20.

Goals: distribute to users and dilute MCap-to-RFV Ratio

Function 2
auditReserves function to update ghostDAO Treasury reserves.

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