CP172: Exploring Token-to-Equity to Maximize Long-Term CFG Value

Centrifuge Governance Proposals
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I have a few questions about CP-172 that I think are important from a CFG holder perspective:

  1. Valuation: How will the valuation of Centrifuge, Inc. be determined at the time of conversion? Will there be an independent valuation, will it be based on the latest funding round, or will another methodology be used?
  2. Liquidity after conversion: Will there be a secondary market or another exit mechanism for the tokenized shares, or should holders expect them to be effectively illiquid until an event such as an IPO, acquisition or share buyback?
  3. Change from CP-171: CP-171 explicitly proposed a “single value accrual mechanism: CFG, no equity business.” What has changed since then that led to this significant shift toward equity?
  4. Eligibility: What are the expected eligibility requirements for EU retail CFG holders? For example, will accredited/professional investor status be required, what KYC requirements are expected, and will there be jurisdictional exclusions?
  5. Non-converting holders: If a significant percentage of CFG supply is converted and removed from the market, what is the long-term plan for CFG exchange liquidity and for holders who choose or are unable to convert?
  6. Timing: Is there already an indicative timeline for the tokenholder vote after the 14-day feedback period?