[Issuer] 1754 Factory

Very interesting project

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@Fabien
Interesting project… how do you factor in Corona-driven loss of jobs & loss of income into the defaulting for micro loans in France?

Also, when I looked at the Bling website it seemed like the loans are free (may be my mistake). Where does the money for the interest rates on TIN and DROP come from?

Thanks & kind regards,

Here’s an article a friend put me onto about Fabien Dureuil of 1754 factory,one of the pools.A little more digging raises many more questions.Please read the article in its entirety and make your own mind up.

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Being part of the fund that supported this project and its fork had generate at the time some hatred and some strong reactions. Indeed if I could go back in time I would have stay away from this and done something else. If you have a specific question about the present - happy to answer it.

Hi, my signature document has been submitted and it is pending for days.
(I know I made a mistake when filling the form), is there any way to resign the document? Thank you !

Hi Fabien,

The sub agreement is not yet signed past two weeks. I am still waiting from your end. Can you please updates with regards to it?

Regards
Pats

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Hi Everyone,

There is currently no available liquidity which is preventing redemptions. Once additional liquidity is added redemptions will be begin to process at the conclusion of the epoch.

The way it works:
At the end of the epoch, all locked orders will be processed and executed at the current TIN/DROP prices considering the max reserve amount, min TIN risk buffer and available liquidity is enough to cover redemptions. If part of the redemption could not be executed, it will be rolled over into the next epoch and these tokens remain locked. After the epoch turn, investors can collect the DAI from the executed orders in the UI. This locked order can be cancelled at any time.

For additional reading on the process please review the link below:

Regards,

Jay

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Hey guys, just wondering how long is it going to take to provide liquidity to the pool. Cause i want to withdraw a part of my funding but i am still waitting because of the lack of liquidity.
Thanks!

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I also just redeemed my DAI. I just want my investment back. Can someone solve this problem of liquidity. The last reply about was 12 days ago and it shocked me that there no response. So its like great in communicating when you need DAI but no communicating when the investors need his own DAI.

Anyhow, I need the DAI back.

Sorry for the delay. Did you contact the support already with your claiming issue?

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Hi @baracuda and @kitch ,

sorry to hear that you can’t redeem right now. But since it’s dependent on the issuer I can give you a rough estimate of 30 June that’s when the underlying off-chain collateral will be paid back. Due to mismatch in the on-chain structure. @Fabien can confirm if this is still up-to-date.

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Please accept our apologies for the unusual long delay here — in the future please feel free to contact us directly via DM on discord or via email.

We definitely hear you and understand your need to redeem the DAI previously deployed in the pool and we are sorry for the delay you are currently experiencing. We had to manage a massive volume of redemption within the pool during this last couple months and even if our model since day 1 include a liquidity buffer, and a line of credit from our VC fund, it was clearly not sufficient to absorb this redemption volume in such a short period of time.
We completely understand the value of having access to liquidity during a bear market and in order to facilitate, honor the current redemptions we will be adding some additional liquidity by the end of the month, and will add a significant amount of liquidity June 30th by reducing the pool size.

That being said, as describe in various documents such the PPM and the subscription agreement it takes in our configuration 90days to sell the underlying assets and recreate the necessary buffer/liquidity.

We are very excited and grateful to be part of this journey and feel like RWA are the next frontier in DeFi — a more stable and sustainable path forward.
On the flip side, at this stage nothing about Tokenize RWA (debt security) can be instant and the premium (APY) is also reflecting it.

I will be working and posting a more in depth update on both Blind and Branch in a few.

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Thanks @Fab @annamehr for the reply. It is a madhouse on the market right now and I think I understand why we should wait before we can withdraw. Please keep up this level of communication with this board. Everything we need now is transparency and communication. Without communication it become suspicious. Again thanks!

Hi it’s already the 30th June but I do not see anything that’s ready for redemption.

Can the AO kindly provide some updates? Thanks

Hi Max,
We will start providing liquidity for this pool within the next 48h.
Thank you for your message and for your patience.

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Hi Guys, I redeem 1 week ago and now I don’t have drops and dai.

I have nothing to redeem now, so it’s gonna redeem automatically when gets liquidity? many thanks in advance

Many thanks to all!

Good day jdvs

After redeeming you should wait for the execution of the epoch and once the epoch will be executed you should claim ( MANUALLY) your DAI.

I just checked the Pool situation (1754 Factory):
Liquidity Available liquidity 0 DAI

This is mean that you can not withdraw your DAI now, but please check Fabien`s message:

We will start providing liquidity for this pool within the next 48h.
Thank you for your message and for your patience.

So the liquidity will be available soon. Please check manually this page:
https://tinlake.centrifuge.io/pool/0x0ced6166873038ac0cc688e7e6d19e2cbe251bf0/bling-series-1

Once the liquidity will be different from 0 DAI click on COLLECT Dai.

You can ask the Issuer (Fabien) any questions related to your investment in 1754.

Hello,

have 20k DAI since nearly 1 year in your pool and im still not able to claim months after Maturity Date? Whats happening here? When will money be payed back? Why is there no liquidity since months?
Thanks

Hi Imdior, thanks for you quick answer,

My only doubt is when I redeem iee left with 0 drops and 0 dai.

When I made redeem, against what will be the redeem if I don’t have any drops?

Thanks in advance for all your support mate.

Good day Jdvs
As I already explained to you in DM (Discord), this is correct that now you have 0 Drops and 0 Dai.
I will try to explain better why you have this situation (and if you will have still questions feel free to ask):

  1. Before the redemption you had XXXX Drops tokens in your wallet.
  2. Once you decide to withdraw your investments you should make this procedure in 2 steps.
    The first - redeem your Drop tokens and wait once the epoch will be executed.
    The second step is - Collect your DAI with interest.

Just now you successfully completed the first step and you Don’t have any more DROPs tokens, because you successfully redeemed them, and at the same time you still have not collected your DAI (due to lack of liquidity).

Once you will collect your DAI from POOL you will get your XXXX DAI + interest maturated back and you will get back your dai and the situation in your account will be ( 0 Drops tokens, 0 dai showed in Tinlake and XXXX+YYY interest in your wallet).

I hope that I was clear, but as I said if you have any questions feel free to ask.

P.S In any case we already reported to our Devs to improve the visualization of the investment and redemption process in account in the next Centrifuge App.

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