**Additional details around tBTC Collateral and tBTC mint rebate Incentive reward **
tBTC Collateral
Instead of providing $50-100K worth of liquidity to assist the effort, Sense.capital is looking allocate this liquidity towards a tBTC collateral arrangement to minimise trust. Total collateral would be 21 BTC at stage 3. Ideally, collateral is posted as Curve 3BTC pool LP so it also earns yield and further boost tBTC defi liquidity.
- Commencement: Post 4tBTC, unlocks 10M T
- Ramp-up: Post 8 tBTC, unlocks 15M T
- Growth: 9 tBTC, unlocks 25M T.
This would also become an insurance policy that expires in 12 months time around next BTC halving around April 2024, if BTC price exceeds previous 2021 all time high, then Treasury Guild is more protected.
T Rebate to Incentivise early tBTC minters up to 2000 BTC
There were some confusion around the specifics of T rebate and total budget. I’d suggest the following
- first 1000 BTC mint rebate leave it for early partners like Maker Maker, Defi Liquidity provider.
- second 1000 BTC rebate quote reserve for wilder public.
Total Mint Rebate budget: 0.3% x 2000 BTC = Around 4M T Tokens.