[Closed] Bond Sale
Second Bond Sale Period: April 20th ~ May 4th
Bond Protocol offers protocols to sell bonds permissionlessly, enabling protocols to diversify their treasuries while allowing users to buy tokens at a discount.
Their mission perfectly aligned with our current needs, and thus, in accordance with our ongoing partnership with them, Neutra Finance will be conducting the second NEU bond sale through their marketplace.
Through this sale, you can buy NEU tokens at a discount while Neutra Finance can diversify the treasury without causing selling pressure.
Sequential Dutch Auction method will be utilized, where the price starts at NEU’s current price and is lowered until it gets a bid. When the bid is made and results in a sale (the bond is sold), the auction starts again. The starting price is set higher compared to the previous bid price and decays linearly until a bid is made. The process continues until it hits the bounds of the auction (timeline, selling limit, etc.).
- Token for Sale: NEU
- Paying Token: USDC
- Sale start date: April 20th (Thurs)
- Sale end date: 60 days after the start of sale
- Sale Capacity: $200k worth of NEU
- Minimum price for bidding: $1.16
- Bond vesting date: 7 days (matured at the end of the period)
*All the NEU for the bond sale will be provided by the Treasury, and any unsold tokens will be redirected back to the Treasury.
The Bond Sale proceeds will be allocated as the following:
Distribution of funds will be executed every week, distributing the accumulated funds according to their ratio.
Bond Protocol is the next evolution of bonds-as-a-service from OlympusDAO. They provide post-launch support for protocols of all sizes to acquire strategic assets. Bond Protocol offers protocols to sell bonds permissionlessly, enabling protocols to diversify their treasuries while allowing users to buy tokens at a discount.