The Standard DAO proposes an Initial Bonding Curve Offering (IBCO) event to mint sEURO for the first time.
People participating in the initial minting event of sEURO will benefit from a fast and strong yield. This is offered because it also helps the protocol secure dee liquidity for the stablecoin. All funds collected during the IBCO will only be used to provide liquidity and keep the stablecoins stable without a stability fee on smart vaults. Here are the three stages of the IBC. All three stages will happen at once.
STAGE 1: INITIAL DISCOUNT CURVE FOR sEURO
Users can buy sEURO at a massive discount starting at 80 cents. As more liquidity comes into the pool, the discount will become less until we reach a 1:1 peg. This starts on the 28th of November, 2022The sEURO is only considered a stablecoin once the Stage 1 discount reaches 1:1. At that point, one sEURO will command one EURO of any other asset.
Stage 2: INITIAL BONDING CURVE (LIQUIDITY BOND)
While users wait for the sEURO to reach parity with the EURO, they can already realise the full EURO value by buying a liquidity bond with the sEURO they just purchased. Users commit the sEURO they received in stage 1 with an equal amount of USDC; they choose a maturity date.7 days, 30 days 90days, 180days and 365 days. The longer the maturity date, the higher the yield of the bond. Details will be released shortly, so be sure to subscribe to this thread. This bond is paid out in TST and enables the user to receive the membership tokens early at a great price. This process rewarded users for helping the protocol over-collateralizing and providing deep liquidity to the stability pools.
Stage 3: STAKING TST
The DAO will vote on deploying the protocol-controlled value collected in stages 1 and 2 for the safest and highest yield. The yields of this pooled fund will initially be rewarded to TST stakers and later also help the protocols treasury for R&D, marketing, and expansion.