GUILD tokens
Composable micro-bonds.
Last updated
Composable micro-bonds.
Last updated
Name: GUILD
Address: (Superseded)
Address: (redeployment address tbc)
Type: SafeERC20.
Hard Cap: None (Infinite).
- - - .
Composable debt, with all the benefits of being a micro-bond.
Minted and issued by The Guild during asset distribution, contribution and acquisition events. GUILD tokens represent debt within the 3.finance ecosystem and are settled with protocol revenue, allocated to each GUILD token when staked in a settlement contract.
GUILD are minted exclusively by The Guild, via two mechanisms:
Guild Bonds: details will be added in due course.
The token has no hard cap, however it has no defined inflation rate either. A cap will however be applied and managed by the team/appropriate governance, until the protocol has adequately matured. This is done for safety and security reasons.
An arbitrage product offering by The Guild. Swaps offers RePeg prices to select wrapped assets that are off-peg.
Swaps has been built to accommodate 2 main states (modes), however while the product is rolled out, a third state will be present. State's, akin to human frames of mind, are used to encourage 3Fi token distribution and re-distribution when Swaps is in a state of 'Distribution' and manage GUILD token issuances when Swaps is in a state of 'Acquisition'.
The three states are as follows:
The period where 3.finance delivers modules 1–3.
At this time, GUILD and 3Fi token issuances/distributions respectfully, will be strictly guarded by predefined tranches and follow ‘Distribution’ state parameters.
View details of each tranche here.
Any period where 3Fi tokens are or become available to the Swaps contract.
At these times, GUILDs are issued at a fixed ratio of 1 GUILD for every 1 USD worth of asset contributed irrespective of the GUILDs’ secondary market value. 3Fi tokens are distributed (alongside GUILD), according to their own distribution curve which is itself based upon the total number of outstanding GUILD tokens.
Using Guild Swaps.
$1,000 USD worth of sdCRV are swapped via Guild Swaps.
1,000 GUILD minted and received by the connected wallet at a rate of 1 GUILD per $1 USD of asset contributed, at the time of the swap. And;
Using Guild Bonds. Details will be added in due course.
Any period where 3Fi tokens are no longer available for distribution (post Delivery state).
During these periods, GUILDs are issued according to the strength of the Reserve Contract:
In periods of strength, less GUILDs will be distributed per ‘unit’ of asset value contributed.
In periods of weakness, more GUILDs will be distributed per ‘unit’ of asset value contributed.
Details regarding the mechanics defining the minting and issuance of GUILD in this state will be shared in due course.
(Guild Bonds, details will be posted here prior to product release).
GUILD token settlement is treated as a permanent means of exiting the 3.finance ecosystem. The process of exiting requires the following:
To initiate settlement, GUILD tokens are staked in a settlement contract.
3.finance holding contract mints 3.NFTs to accommodate settlements.
3.finance holding contract liquidates received rewards into a predefined settlement asset.
The settlement asset is then passed to the settlement contract.
Settlement assets received are then available to staked GUILD tokens on a FCFS basis. Meaning:
Creditors seeking settlement will be required to compete to claim the available settlement assets, up to the amount of GUILD they have staked in the contract.
Successfully claiming settlement assets will burn the equivalent GUILD tokens (1:1).
It is important to note: When GUILD tokens are staked, they can NOT be un-staked. The process is deliberately and purposefully a one way process.
It is important therefore to be absolutely sure an exit is desired before staking GUILD tokens in a settlement contract.
Governance rights.
GUILD tokens receive a vote weight, to be applied against any budget specific proposals.
GUILD tokens receive a vote weight to set Reserve Contract parameters.
Compositions.
This process is reversible, meaning 1 Guild NFT when vested releases 10,000 GUILD tokens.
Settlements.
GUILD tokens, when staked in a settlement contract are always first in line to receive protocol revenue at a fixed rate of 1 GUILD token for 1 Settlement-token.
:
state/events.
state/events.
state/events.
To learn more, you may wish to read our published article on .
An allocation of 3Fi tokens made claimable to the connected wallet address. (The size of the allocation is determined by the 3Fi token ).
10,000 GUILD tokens may be used to obtain 1x Guild NFT. (See ).
At time of writing, the settlement-token will be 3CRV upon launch, but is expected to eventually aligning with .
