Legend NFTs
Governance level: Guarantor.
Highlights.
Purpose.
Legend NFTs provide the third and final layer to 3.finance's governance structure: Guarantees.
Governance layer 1 focused on depositors and ensuring their distinct views, needs and desires are voiced within the ecosystem.
Governance layer 2 ensured those who financed the research, development and growth of the ecosystem too have a voice within the ecosystem.
Governance layer 3 brings these two groups together with 3.finance's Legendary NFTs; seeking only the most dedicated and loyal believers of 3.finance's vision and mission.
The final ask encapsulated by the Legendary NFT model, takes both user deposits and debt in their NFT formats: 3.NFTs and Guild NFTs, with the purpose of using the proceeds from each to secure and guarantee the 3.finance ecosystem of protocols.
How this is accomplished will be revealed in greater detail once we've fulfilled our first obligation to deliver a viable MVP.
Composition.
3.NFTs of specific quantities and Guild NFTs of variable quantities will be required to meet Legendary NFT mint requirements.
Mint requirements can be fulfilled by one or many contributors. Legendary NFTs will be issued on a FCFS basis. Only 333 Legendary NFTs will ever exist.
Benefits.
Revenue expectations:
All 'Overflow' revenue.
All settlement guarantee 'Liquidations'.
All repayment guarantee 'Liquidations' once converted to GUILDs.
Rights expectations:
All benefits expected from their 3.NFT and Guild NFT holdings are retained, however these will now received in the form of GUILD tokens.
Exclusive right to vote on proposals from a risk assessment perspective.
Responsibility - to finance and provide risk assessments to validate positions & reasonings.
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