Nation

Given the difficult market conditions, the valuation of $NATION is changing by the day, making it difficult to estimate the exact amount of $NATION required to collateralise the requested bond amount. Since the original proposal was published, market conditions have deteriorated, and the proposed 1300 $NATION is no longer sufficient to provide the initially proposed 250% collateralisation ratio.

Because of time required for each governance approval, it is difficult to request an exact amount of $NATION to guarantee a specific collateralisation ratio.

Moreover, given the market conditions, it is expected that lenders would be more conservative, meaning that the initially proposed 360 day term and 250% collateralisation ratio might be deemed unattractive to lenders.

To be able to proceed with the bond, I propose to:

• increase the approved $NATION by 1200, to the total maximum allowance of 2500 $NATION that could be used at the discretion of the Meta Guild to secure the bond
• the right to increase collateralisation ratio to 300% (without exceeding the total approved 2500 $NATION as collateral)
• the right to decrease the loan term to 180 days

To clarify, the Meta Guild would attempt to use the least amount of $NATION possible (up to the approved allowance) for the longest possible term (no less than 180 days, no more than 360 days), in order to ensure the bond offer is successful.

This is the pull request on the governance repo with the actual proposal.