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post ETO convertible note conversion

Open rudolfix opened this issue 6 years ago • 0 comments

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 avatar Aug 08 '18 10:08 rudolfix