QuiD Protocol
QuiD's strategic & tactical go-to-market plan
To springboard QuiD Protocol into resilient liveness, on-ramping involves going a step farther than merely serving free loans to initial users. They're handsomely stimulated by a blindly trustless vega-bonds voyáge palace a la Caesar's, floating sovereign on distress. Pro quo, borrowers drive QDebt emission. From there, they stake as lender/depositors in the SolvencyPool to provide liquidity on CFMMs for APR-free public participation in our boost-rapping event, where QP symbolizes a QD balance staked in the GuaranteeFund.
As such, NEAR holders are implicitly incentivized to be early SolvencyProviders by a surge of initial long leverage demand (and thus premiums) as the gateway to participating in our explicit stimulus package. Its ward is bonds circumventing the GF's initial hollowness (cold-start problem), with or w/o the hotness and wetness naturally conducive to longs, as there's a decent chance conditions won't be favorable so this should be anticipated. A lacking backstop GFacility would deter skeptical SPs at the worst time: when their deposits are most needed for anti-fragility. QuiD needs no secondary token panacea for liquidity issues, but were DAI as QD, QP would be ZAI, "follow the 🐇."
Designed as a sort of special-purpose, zero-coupon bonding vehicle for QParticipants, ​C-notes (AKA bills of QuiD's treasury) are openly distributed for a discount off their nominal value, and are perpetually redeemable for 100 QD, meanwhile being subject to lockup constraints (unlike in the SP, from which staked QD can be withdrawn anytime). Water yields heat when frozen, and C-notes provide affordance to SP slippage protection (against excess debt from liquidations), plus ad-hoc antibodies for its main potential fatality: persistently cascading liquidations while the GF is not sufficiently capitalized to handle troubled gravitational riptides of black swan scale treachery.
In law, perfection pertains to the binding nature of such promissory notes, even in the event of default by the makers of the bond (promising QProfits to bond takers, as compensation for the foamy tail risk of future protocol cash flows). Grace is but glory begun, and thus glory is but grace perfected. The GF bears default steadily, festina lente, but liquidation overflows (where the value of their debt persistently far exceeds their collateral's) could create a vacuum which may only be filled by depleting gains payable to the beneficiary owners of C-notes. They are compression bonds perfected, without the reflexive cobra effects a la pumping "let's all buy & no one sells," recycling bad debt by inverting with future QD: reverse redemptions represent rICO's Basilisk.

reversible Initial C-note Offering: bloody good time value of QD

A total of 432K C-notes are distributed over the course of a public incentive coupon offering (half of the bag, however, is NFT-permissioned via sputnikDAOv3). The offering begins at a starting price of 4 cents, when the NEAR Foundation purchases a stake of 43.2K C-notes (~96 pounds of bills) on behalf of QuiD's founders, paying 172K QD for their ~25x future return, vesting quarterly over 2 years. QuiD's other partner, Lemniscap, vesting the same as its founders, purchases ~172K bills for a Meek Mill and a half (15.55K Blue Notes) via 4 transactions over 4 consecutive days following the Ides of March in 2022 (entering fresh at 6, 8, 10, and 12 cents, depositing in QP amounts of 259.2K, 345.6K, 432K, and 518.4K, respectively).
On World Frog day, a 42 day participation window invites the general public, where ~5142 C-notes are distributed (but not sold) daily to GF bondsmen, for .02 QPrice above yesterday's, ending May 1st at midnight after the discounted price peaks at 96 cents. Thereby, staking 864K QP for the first four weeks of the 42 days earns a 3x QD return over 6 months. Though unlikely to ever occur, any days' unclaimed C-notes roll over to be distributed the following day (if it's the last day of the offering, they simply stay in the GF). Subsequently, there is a 6-month "unwinding period" for bills, whereby any participant 
can withdraw, each day, 1/180th of their dues minus a 2% early quitter fee (charged to encourage patience by withdrawing only at the end of 6 months).
On May Day, any public participant can call mayday, freely pulling out either their principal paid in or dues in profit, whichever is smaller (starting at 50 cents, the inflection point, gains get poured). Were every participant to withdraw maximally, ~7.7M QP would still remain deposited for 6 months. If this withdrawal scenario repeats, where all of the dues pull-able daily leave despairingly during the unwinding period, then ~80K C-notes from Lemniscap's & founders' stakes (former first) account for closing the residual budget deficit (cell D55 in Sheet). The only catch is goodwill: 1M QP vaped out of the protocol as OpEx riches, tobacco-flavored liquid toxicity in lieu of toxic liquidity.
In nunce, C-notes represent one's keep in QuiD, charge-eQuiPped QParticles: NFT coup-ons as future layer cake slices, cut so thin they're always worth a bill, whose value is guaranteed upon burning (redemption) of solvency contributed in the SP throughout 6 months. QuiD's liquidity ship ballast, the GF equity tranche is the tray holding the SP's Ⓝ C.R.E.A.M. pie in our DeFi CBOvEn...
Last modified 1d ago