Threshold Network

This Snapshot vote is to ratify a Threshold Treasury Guild committee recommendation to update the terms of agreement with market maker Sense Capital as follows:

"The Threshold Treasury Guild committee recommends reducing the 3rd and last BTC collateral requirement (Sense has posted the 1st two, totaling 12 BTC) outlined above (see: TIP 46: Defi Liquidity Bootstrap and Growth Part I - Market Maker - #7 by sensecapital ) by 50% (to 4.5 BTC) and breaking it into 3 monthly posts.

Rationale: in addition to changing market conditions in the last year (price of BTC was ~$28k when TIP-46 went to Governor Bravo vote March 31st last year) Taylor and @sensecapital have gone above and beyond to promote tBTC from a liquidity perspective, as well as champion us to his network. Their liquidity allocations have been instrumental in our growth and continue to drive volume and growth for Threshold.

Specifically, we ask the DAO to ratify these changes to the original terms of TIP-46 as follows:

Collateral requirement for stage three T token optional grant has reduced from 9 BTC to 4.5 BTC

Sense will post 1.5 BTC collateral to TTG treasury wallet each month for 3 months, starting from the 25M T token transfer (post ratification of this via Snapshot)

Strike price of 3rd leg of 25M T token shall be set based on 7-day moving average of daily close price as per original proposal

Given this is a modification based on recommendation of TTG committee entrusted with management of this partnership, I will go ahead and post this to Snapshot - but if anyone has any questions or concerns, please respond here or in Discord. Thank you."