Summary

New Order proposes a token swap between NEWO and PERP to further diversify our treasuries, strengthen our inter-protocol relationship and provide governance power in each other’s protocols.

Abstract

We view Perp as a valued infrastructural partner within our DAO, and as an intended member of our new incubator, we aim to deepen both our relationship and our exposure through a strategic token swap. This swap will provide New Order with additional Perp not acquired through our own treasury utilization, and give the Perp community exposure to the New Order ecosystem beyond our partnerships and incubated projects we are working on together such as OptyFi and IndexZoo. The swap carries with it an expectation that neither side trades or reduces their exposure without a governance vote, which the other party can participate in through their respective holdings.

Specification

• Execution at current $PERP 30-day moving average prices with no discount. And $NEWO token at last fundraise valuation ($50M FDV)
• $500k notional value, paid in sPERP and NEWO
• PERP 25-Day MA = $14.87
• NEWO Last Token Price = $0.06520
• 33,624.74 sPERP <> 7,668,711 NEWO

Mutual agreements 

• 1 year cliff on vesting period
• New Order commits to keep future token swaps with perpetual and derivative protocols exclusive to Perp.
• Commitment to participate in governance votes