Over the past day, five people purchased my debt obligations for a total of approximately 65 euros. All five are small investors in the Montelibero tokenomics; thus, the large investors respected my request and did not rush to buy up the debt first. Well, now it is time for them. I am keeping the sell order at a price of 0.97 open until this evening (19.06), and at 22:00 Podgorica time, I will close it, leaving only the standard order at a price of 1 EURMTL. Tomorrow I will need to spend the first two hundred-and-something euros, so to obtain the remaining amount I will still lack after closing the sale of debt obligations, I will sell some MTL tokens.
In connection with all this movement, I have received several questions about why such an unusual method of obtaining money was chosen. Actually, the method is quite conventional, as these are essentially ordinary short-term bonds. It is just that usually, legal entities rather than individuals borrow in this form. I wanted to test how capable our tokenomics is of servicing personal brands, as well as to get some evaluation of what my social capital is equal to in monetary terms.
I was also suggested another possible alternative: using stablecoin loans collateralized by Bitcoins. This is also potentially a good way to attract fiat during a crypto winter, however, it requires preliminary preparation: finding a suitable exchange, ensuring that it allows not only depositing funds but also withdrawing them without insane commissions and without presenting a “good Russian” passport, plus having the tools to obtain those very loans. In general, during a period when holders of Russian passports are being chased away with jeers across the entire financial world, I would not want to deal with exchanges.
Finally, there were questions about what guarantees I can provide for the fulfillment of my debt obligations. There are no guarantees in the sense that collateral is not held by third parties. Therefore, I rely only on my public reputation. Also, theoretically, holders of my tokens can sell them at a discount to project participants living near me, so that they could recover their money through the threat of force or confiscation of property. This is also an ancient and venerable way of getting money from debtors, which is always worth keeping in mind.
