No definite time. According to the TS, “after the committee is elected (voting begins on Thursday 03/02 5) they will elect an Elder who will actively participate in the discussions and negotiations for the execution of the plan agreed in this PGP.”
As a result, tradability/transferability will be dependent on the aforementioned event. Following the planning phase, the execution phase, which is the LBP sale, will take place.
However, if we assume that everything would be completed this month, it is possible that it will happen the following month.
What is the plan if we cant sell all the 500k PALs on the LBP? Personally I think we most likely will, especially with the floor = seed price, but would be good to discuss options.
What is the rational behind 10 as a starting price? I understand the LBP price usually goes down over time due to the shift in weights, so most often protocols prefer to start high, but still would like to see some justification for the 10.
Well it doesn’t really matter if we don’t “sell out”, we just raise less money for POL. We can just use it later in a bonding mechanism or something.
As for intro price, there is no real scientific way of chosing, it was recommended to start with an extremely high FDV as LBP buyers tend to wait quite a lot before buying. We currently have 1.2M circ. PAL and will emit 1M with the LBP. This would imply a 22M$ market cap at 10$/PAL.
Paladin is currently managing 7.5M$ in governance tokens + 16M$ in veCRV (4.7M veCRV), which implies a valuation under TMV.
We’re extremely open to other suggestions on the initial value for price discovery.
If no other important modifications pop up vote will be live on monday