POP: Anemoy Liquid Treasury Fund 1

[martin]

Overview

• Business Name: Anemoy (BVI) Management Ltd., a fully owned subsidiary of Anemoy Limited
• Current AUM: n/a
• $ Volume of Transactions Completed Last 12 months: n/a
• Target Launch Date: Oct 3, 2023
• Location and Team Size: British Virgin Islands (“BVI”), 2
• Years in Operation:
  • Anemoy Limited (“Anemoy”, based on the Anemoi, the Greek wind gods) is a de novo asset management company launching its inaugural product, the Anemoy Liquid Treasury Fund 1 (the “Fund”) through its British Virgin Islands wholly-owned subsidiary Anemoy (BVI) Management Ltd.
  • The Fund will be a regulated investment fund approved by the British Virgin Islands Financial Services Commission, for which the shares of the fund are issued in tokenized form under BVI law.
  • The directors and team members (“Team”) are finance, fintech, startup, and crypto veterans with a combined experience of 50+ years.
  • Martin Quensel (Linkedin)
    • Serial entrepreneur; Co-founded Centrifuge; Startup before co-founding Centrifuge was the Fintech Taulia, which was revolutionizing Supply Chain Finance, finally acquired by SAP; Invented with the Centrifuge team the idea of “real-world assets” (or “RWA”) as the now fastest growing space in decentralized finance (“DeFi”)
    • Co-founder and CEO of Anemoy
    • Director of Anemoy (BVI) Management Ltd.
  • Jason Meads (Linkedin)
    • Private equity specialist who has worked closely with Patron Capital since 2002 and is now on the board of funds; Also director of Intriva Capital Management who are also highly active in the real estate private equity space in Europe; served on the board of Binance (Jersey) for 3 years; Runs the Special Situations desk at the Blue Marine Foundation; Further expertise includes blockchain, ocean protection and climate change
    • Director of Anemoy (BVI) Management Ltd.
• Historical Loan Tape (years): n/a
• Key Professional Partners (legal, accounting, operational, technical, structuring):
  • The Team is working with world class partners for the on- and off-chain parts of the structure and using state of the art crypto and cybersecurity tools to protect clients.
  • The Team has chosen to internalize many of the key business functional areas (i.e., legal, accounting, operational, technical and structuring).
  • Notwithstanding, Celadon Financial will act as broker and custodian for the underlying assets, which represent various United States (“US”) government debt obligations (broadly referred to throughout this POP as “US Treasuries” issued by the US treasury) with short maturity, high liquidity, and least impacted by US interest rate changes, which are US Treasury Bills (“T-Bills”).
  • Further, the services provided by Celadon Financial will be combined with an exchange agent for the stablecoin to fiat exchange and a banking service.
  • This POP does not require further off-chain service providers considering the focus on decentralized institutional investors like decentralized autonomous organizations (“DAOs”) and their treasuries (not to be confused with the product offering this POP covers) have the capability to self-custody tokens.
  • Anemoy will onboard additional off-chain service providers as subsequent investment strategies are pursued. This will include further payment service providers, brokers, trustees, custodians, agents but tailored to the specific characteristics of each future offering.

Strategy

Business

• Describe your business and go to market strategy.
  • What makes your approach unique within your industry?
    • Anemoy is a digitally-native asset management platform (“DAMP”) built to provide both DeFi and more traditional (i.e., “traditional finance,” or “TradFi”) investors access to superior risk-adjusted returns enabled by blockchain technology.
    • With respect to TradFi interest in blockchain-enabled investments, despite tokenized assets being forecasted to reach $4-16 trillion by 2030 (Citigroup (citi.com), BCG (bcg.com), BlackRock (blackrock.com)), these assets face a “circular dependency” between two factors – investor adoption and institutional-quality offerings. TradFi investors require reliable credit quality featuring market-standard structures benefitting from truly value-additive technology. Venture-backed business founders, on the other hand, could benefit from investor involvement in developing institutional-quality offerings.
    • Further, there are significant limitations in the types and quality of investment opportunities available to DeFi investors (i.e., namely DAOs). For example, a DAO treasury portfolio consisting of stablecoins, tokenized US Treasuries, tokenized private credit (i.e., what is most commonly appreciated as “RWA”), and cryptocurrencies (e.g., Bitcoin, Ethereum, etc.) – representing the general slate of options available to DeFi investors today – is a far cry from the risk-reward optionality offered to TradFi counterparts.
    • There is a clear market opportunity to bring institutional-quality investment processes on-chain, which Anemoy believes will be further enhanced by providing digital asset investors (both present and potential) necessary consultative services and general education. Anemoy makes DeFi, including the Centrifuge protocol, accessible for professional investors.
    • This POP represents an initial step towards this vision by pursuing the most secure, reliable, and liquid structure possible for investors – US Treasuries. We believe the Fund offering is offering a compelling alternative to comparable products in regard to compliance, investor protection, and accessibility.
    • In effect, Anemoy is providing access to on-chain US Treasuries by offering an institutional-quality off-chain product structure for the leading DeFi tokenization & transaction structuring platform (Centrifuge).
  • Why are you a good partner for Centrifuge?
    • Anemoy was founded to help investors navigate the intersection of blockchain technology and capital markets infrastructure – of which the Team believes the Centrifuge protocol offers a superior alternative of both. Anemoy’s approach is tailored to act as an issuer (“Issuer”) on Centrifuge and to boost the “total value locked” (or “TVL”) of the protocol by onboarding new investor and asset types, beyond the US Treasuries Fund product.
    • Anemoy will be an active Centrifuge DAO contributor in addition to becoming a protocol Issuer. By bringing institutional quality investor processes and assets to Centrifuge, the protocol stands to benefit from improvements in TVL, as well as asset quality, accessibility, usability, security, interoperability, and compliance – in turn solidifying Centrifuge as the leading DeFi capital markets infrastructure solution.
    • The Team believes in its duty to contribute alongside the pre-existing vibrant, skilled community of ecosystem participants for the longevity and relative success (vis-a-vis traditional corporate governance methods) of the Centrifuge DAO.
  • How do you differentiate yourself from competitors?
    • Legal framework
      • The proposed pool pertains to the Fund, representing a tokenized and fully regulated and registered fund in the British Virgin Islands subject to approval by the BVI Financial Services Commission.
      • The Fund is open to eligible non-US investors only (further specified in the forthcoming offering materials).
      • Investors need to pass know your customer (“KYC”) and anti-money laundering (“AML”) requirements of the BVI.
      • An exchange agent, bank, broker and custodian act as independent service providers making sure that the fund cannot repurpose funds or assets.

• Centrifuge

  • NFT and on-chain transparency support for single asset holdings
    • Investors purchase Fund shares by way of contributing capital (i.e., USDC) to the pool. The proceeds from the investment in the Fund shares are used to manage the US Treasuries portfolio. The US Treasuries portfolio is represented as (a) non-fungible token(s) (“NFT(s)”) which are used to calculate the net asset value (“NAV”) of the US Treasuries portfolio under management. The pool itself is issuing a single tranche of fungible tokens, which are Fund shares. Under BVI law, shares of companies can be issued in tokenized form.
  • Multichain support
    • AML/KYC-verified, Centrifuge-onboarded, non-US investors can purchase, sell, and hold Fund shares at any time on the layer-1 or layer-2 (“L1” and “L2,” respectively) of their choice as long as this L1 or L2 is supported by Centrifuge liquidity pools.
  • Centrifuge chain
    • Gives investors real-time visibility in the US Treasuries the Fund is holding with showing on-chain value and quantity of the NFTs in the Centrifuge pool of the Fund.

• How is your entity financed today, what are the current sources of capital:

  • Equity raised: n/a
  • Debt raised: n/a

• What is your entity’s revenue/fee model:

  • Origination fees: n/a
  • Target spread: n/a
  • Other: 15 bps management fee (see forthcoming offering materials for details)

Capital

• Please explain the source(s) of, and ability to scale, your first-loss junior (TIN) capital in the pool:
  • Single tranche model without Junior and Senior tranches. The nature of the underlying asset - US Treasuries - does not require tranching or any further securitization. There will be one tranche for all the tokenized shares of the Anemoy Liquid Treasury Fund 1, which owns the underlying US Treasuries (T-Bills).
• Please explain the source(s) of, and ability to scale, your senior (DROP) capital in the pool:
  • See above
• Capital relationships and how much you will bring through Centrifuge KYC to invest in either senior or junior tranche of your pool:
  • Anemoy has a robust network of DeFi and TradFi capital providers. Additional information can be shared with interested parties in the sole discretion of Anemoy and bound by non-disclosure agreement (“NDA”).

DeFi

• Outline why DeFi is important to your business strategy:
  • As mentioned above, an essential component of Anemoy’s broader strategy relies on providing superior risk-adjusted returns via DeFi. There is no Anemoy offering which is not tokenized and managed using DeFi at present, nor are any 100% off-chain products presently being contemplated by the Team
• Articulate why Centrifuge’s community and protocol is a fit for financing:
  • As mentioned above, Anemoy will use Centrifuge as the tokenization platform, which is an essential component for facilitating the Fund. It is anticipated that clients and partners of the Fund will be or are already part of the Centrifuge community.

Structure: Risk & Terms

• Please explain the key risks inherent in this opportunity and asset class:
  • Asset performance
    • US Treasuries are amongst the most common short duration assets globally, the Team views this dynamic as closely resembling macro- or US creditworthiness- risk
  • Team risk
    • The Fund represents the inaugural offering from Anemoy. As such, there is risk in the Team’s ability to structure, execute and manage the Fund. The Team believes this risk is mitigated by (i) collective Team experience of over 50+ years across finance, fintech, startup, and crypto; (ii) managing a BVI-regulated Fund requires satisfying strict regulatory and compliance requirements; and (iii) the Team is engaged with credible service providers to support a high-quality investor experience.
  • Unit economics and scale risk
    • While representing a greater consideration for the Team than for potential investors, Anemoy’s ability to offer and maintain a US Treasuries product is contingent upon the Team’s ability to scale the offering to break-even profitability.
• Pool Size & Pipeline:
  • At Launch: $1+ million
  • 6 Months after Launch: $20 million
  • 12 Months after Launch: capped at $20 million and 20 investors
  • Origination Pipeline Details:
    • Strong pipeline, confidential but already work in progress
    • Rather sooner than 6 months
    • First product to be offered to DAOs and their treasuries
• Asset & Rates:
  • The POP relates to Anemoy providing investors an opportunity to access US Treasuries yield on-chain, such that several aspects of the Asset & Rates section are not applicable. However, to provide readers with like-for-like information, the Fund will use investor proceeds to purchase US Treasuries (T-Bills) in order to maintain certain portfolio attributes, which will be further specified in the forthcoming offering materials. As such, we expect investors to earn gross yields of comparable US Treasuries-related products, and net yields after giving effect to Anemoy fees, costs and expenses related to facilitating the product, which will be further specified in forthcoming offering materials. The Fund intends to offer investors daily subscription and redemption capability, with an expected redemption processing time of two (2) banking days but not more than seven (7) banking days. Lastly, given the underlying assets are US Treasuries issued by the US government, the credit risk associated with the asset is covered and published by mainstream rating agencies.
  • Asset Type(s): n/a
  • Average Ticket Size: n/a
  • Average Asset Maturity: n/a
  • Expect Default Rate: n/a
  • Expected borrowing rate on senior tranche (on-chain): n/a
  • Expected lending rate to end borrower (off-chain): n/a

[christiancdpetersen]

@Martin - Thank you for the POP. I did have a few initial questions/observations for your kind consideration. Many of these can be addressed in the forthcoming offering materials:

1. How will you ensure that the Anemoy Liquid Treasury Fund I (the “Fund”) is not subject to the insolvency risk of Anemoy Ltd. or Anemoy (BVI) Management Ltd.?

2. The NFT appears to represent an interest in the shares of the Anemoy Liquid Treasury Fund I. I assume that Anemoy will provide a copy of the fund agreement?

3. Please confirm that the Fund will acquire T-Bills and not an ETF comprised of T-Bills.

4. Please describe the Fund’s exposure (if any) to the insolvency risk of Celadon. Are the T-Bills maintained in segregated accounts for the benefit of the Fund? Will any other persons have a claim on such T-Bills?

5. It will be helpful to describe the redemption process in a bit more detail - particularly if the Fund holds T-Bills (compared to ETFs comprised of T-Bills).

6. It is mentioned that investors will have an opportunity to access “US Treasuries yield”. How will this be achieved as the U.S. Treasury issues T-Bills at a discount to their face value? The U.S. Treasury does not pay current interest. How will the Fund calculate “interest” given daily redemptions?

7. How will the Fund determine which T-Bill term to purchase? T-Bills are issued in maturities of 4, 8, 13, 17, 26, and 52 weeks.

8. How will the Fund give

@martin

investors real-time visibility in the US Treasuries the Fund is holding with showing on-chain value and quantity of the NFTs in the Centrifuge pool of the Fund.

What is the mechanism? Will you have independent, third party reporting?

Thank you in advance.

[martin]

Hi Christian,
Good to meet here again
Let me try to address your questions:

1. How will you ensure that the Anemoy Liquid Treasury Fund I (the “Fund”) is not subject to the insolvency risk of Anemoy Ltd. or Anemoy (BVI) Management Ltd.?

Under BVI law, shares of funds are treated as a different class of shares separate and apart from the ownership shares of Anemoy (BVI) Management Ltd owned by Anemoy Limited. On a liquidation of a fund company, the BVI Insolvency Act 2003 applies with one modification in that a liquidator is required to observe the provisions for segregating assets and can only apply assets of a particular segregated portfolio to those entitled to have recourse to that segregated portfolio.

2. The NFT appears to represent an interest in the shares of the Anemoy Liquid Treasury Fund I. I assume that Anemoy will provide a copy of the fund agreement?

No, each NFT will represent a specific T-Bill (segregated by CUSIP / ISIN) purchased by the fund. These comprise the AUM of the fund and the value of each determines the NAV of the pool. The pool itself is a tokenized fund under BVI law. The tranche tokens are fund shares held directly by the investors. The token holding itself has legal meaning, which is a major difference with other similar products in the market. The fund subscription agreement will be shared with offering material as soon as the fund registration is approved by the BVI Financial Services Commission.

3. Please confirm that the Fund will acquire T-Bills and not an ETF comprised of T-Bills.

Yes

4. Please describe the Fund’s exposure (if any) to the insolvency risk of Celadon. Are the T-Bills maintained in segregated accounts for the benefit of the Fund? Will any other persons have a claim on such T-Bills?

Like all other US broker-dealers and pursuant to UCC Article 8, brokers do not become owners of the securities they hold for their clients. Accordingly, upon a liquidation of Celadon, under SIPC guidance, the trustee will restore access to securities held by the broker-dealer to its clients so that the portfolios can be transferred to a solvent broker-dealer. In addition, cash held by broker-dealers will be guaranteed by the same Securities Investor Protection Corporation (SIPC).

5. It will be helpful to describe the redemption process in a bit more detail - particularly if the Fund holds T-Bills (compared to ETFs comprised of T-Bills).

Investor locks a redemption order in Centrifuge > Anemoy instructs Celadon to sell the appropriate number of T-Bills > Celadon confirms trade and transfers proceeds to Anemoy bank account > Anemoy bank forwards USD proceeds to the exchange agent > exchange agent exchanges USD to USDC and sends USDC to the Centrifuge pool where it burns the regarding NFTs and transfers value of redemption in USDC (minus management fees and expenses) to the investor.

6a. It is mentioned that investors will have an opportunity to access “US Treasuries yield”. How will this be achieved as the U.S. Treasury issues T-Bills at a discount to their face value?

As is well-known, the US Treasury pays interest on T-Bills. The interest is paid at maturity so the fund will accrue interest as its investments mature. Investors in fund shares will similarly accrue interest on their fund shares pro rata.

6b. The U.S. Treasury does not pay current interest. How will the Fund calculate “interest” given daily redemptions?

For the calculation of the accrued interest, Centrifuge NFTs have the parameters of a specific set of T-Bills (price, tenor, interest) that using a simple discounted cash flow model results in an NAV of the pool of NFTs (the fund’s AUM). There will be minor discrepancies between the NAV and trading when T-Bills will be bought and sold but this will adjust the NAV as soon as the regarding NFTs are minted/burned and a negligible issue. The Centrifuge pool NAV is comparable with an ETF, except that the BVI legal structure gives investors a real claim on the T-Bills by owning a token including the possibility of redemption in kind (one of the advantages of the structure).

Investors can request a redemption every day; the processing time will be usually around 8h to 48h but not more than 7 US business days.

7. How will the Fund determine which T-Bill term to purchase? T-Bills are issued in maturities of 4, 8, 13, 17, 26, and 52 weeks.

It will be diversified and balanced considering fund management efforts and typical redemption cycles. Accrued interest cannot be lost as transactions in the secondary market (if needed) will always take accrued interest into account in the purchase price so that interest is paid by the buyer rather than the US Treasury at maturity.

8a. How will the Fund give investors real-time visibility in the US Treasuries the Fund is holding with showing on-chain value and quantity of the NFTs in the Centrifuge pool of the Fund?

Each NFT will represent a specific quantity of T-Bills with the same CUSIP / ISIN and therefore the same tenor, issuance date and maturity date. The specific CUSIPs / ISINs will be identified to fund investors so that the current market value of each fund holding can be readily determined on a real-time basis.

8b. What is the mechanism? Will you have independent, third party reporting?

Celadon will provide regular reporting of the fund holdings and will show mark-to-market valuations of the specific T-Bills in the fund portfolio. In the next iteration of the fund we hope to provide on-chain reporting meaning that off-chain trading tools and parties would be directly integrated with the protocol.

Thanks and looking foward to discuss it face to face -Martin

[ImdioR]

Good day
What will be the minimum investment amount in the single tranch? Approximately?

[martin]

Hi @ImdioR,
It will be 100k (100,000) USDC considering transaction efforts and limitations in the real world.

[christiancdpetersen]

Thank you for the thorough responses @Martin. I look forward to digging into the fund documents as they become available.

[mark_hergen]

Thanks for the detail in this write up here, @martin, and for the pointed legal questions, @christiancdpetersen. I just had a few quick follow ups:

• Who will be the banking service provider?
• Who will be the exchange agent?
• What’s driving the 7 day redemption period? I think for a T-bill fund it should be closer to 2 business days. I appreciate that in practice it will likely be closer to 1-2 days for this fund.
• Are there any additional fees outside of the 15bps? I think the 15bps is competitive and reasonable within the market.

[martin]

Hi @mark_hergen

Who will be the banking service provider?

Onboarding with SVB is in progress

Who will be the exchange agent?

Onboarding with Circle is in progress

What’s driving the 7-day redemption period? I think for a T-bill fund it should be closer to 2 business days. I appreciate that in practice it will likely be closer to 1-2 days for this fund.

It is protecting us from the worst-case scenario. The 99% transaction processing time will be 8 to 48 hours and it will be closer to the 8 than the 48 hours.
There is a lot that can go wrong:

• Exchange agent is having technical issues or closes the account
• Broker dealer or custody service is having technical issues or closes the account
• Ethereum is facing another network congestion
• just to name a few
• all very unlike but you need to be prepared for the black swan showing up / assume the best but plan for the worst

Can you share more background here? Is there another offer guaranteeing 2 days or less?

[mark_hergen]

Thanks for the info on the other counterparties and for making note that virtually all redemption processing should happen within 48 hours despite the 7-day legal lock up; I think that makes sense for a T-bill offering (Maple and Ondo market similar time frames for onchain T-bill redemptions… though I’m not certain what those legal lock ups actually are).

[mark_hergen]

Legal Disclaimer: This report is provided for informational purposes only, and does not constitute financial, investment, legal, regulatory, or tax advice. The author cannot guarantee the accuracy of data and information contained in the report, which is provided strictly on a best-efforts basis. References to assets are made for informational purposes, and are not a recommendation, offer to sell, or solicitation of an offer to buy any asset. Content, data, or assessments provided in this report are subject to change without notice.

Anemoy Liquid Treasury Fund 1 [Anemoy LTF] Credit Report

Summary

The Anemoy Liquid Treasury Fund 1 [Anemoy LTF] represents an opportunity to generate interest income backed by the full faith and credit of the U.S. government via the purchase of treasury bills. The probability of default for the U.S. government is extremely low given the dollar’s role as the global reserve currency. The Pool Onboarding Proposal [POP] can be found here from the public Centrifuge forum.

Report Author: Mark Hergenroeder, Facilitator of the Centrifuge Credit Group

Asset Details

• Collateral: N/A – full faith and credit of U.S. government
• Average Duration: 4-52 weeks
• Default Rate: 0%
• Advance Rate: N/A
• Payment Structure: Repayment of principal and interest on redemption
• Type of Financing: U.S. government treasury

Offering Details

• The Fund: Liquid Treasury Fund 1
• Investment Strategy: Fund will invest 100% of its total assets in cash and U.S. Treasury Bills guaranteed as to principal and interest by the U.S. Treasury. The Fund’s investments will encompass T-Bill strips across 1 month, 3 month, and 6 month maturities, which will be rolled into new issuances purchased on the primary or secondary markets as assets come due.
• Target Launch Size: 1,000,000 USDC
• Term: 4-52 weeks
• Number of tranches: 1
• Minimum Senior tranche investment: 20,000 USDC
• Minimum junior tranche investment: N/A
• Senior tranche APR: Variable ~5.4% APR, subject to market pricing U.S. Treasury Bill Rates
• Junior tranche APR: N/A
• Distribution Flow: Pro rata upon redemption
• First Loss % / TIN Ratio: 0%
• Management Fee: 15bps annually
• Redemption period: 7 business days
• Investor Eligibility: Sophisticated Private Investors who are not U.S. persons
• Custodian / Legal Advisors: Celadon Financial / Ogier
• Banking Services / Exchange Agent: Silicon Valley Bank / Circle

Issuer Details

• Business Name: Anemoy (BVI) Management Ltd.
• Location: British Virgin Islands
• Team Size: 2
• Years in Operation: < 1 yr

Strengths & Weaknesses:

Strengths:

• Yield generated from treasury bills is backed by the U.S. government; probability of default is extremely low and has no recent historical precedent
• Fully regulated and registered fund in the BVI (subject to approval from the BVI Financial Services Commission)
• Reasonable management fee at 15bps

Weaknesses:

• 7-day legal lock up period; albeit with expected average processing times between 8 and 48 hours
• Key person risk and limited operational history

Opportunity Details

Treasury Bills:

A treasury bill (T-bill) is a short-term debt obligation backed by the U.S. treasury department with maturities ranging from 4 to 52 weeks. T-bills are issued at a discount from the par value of the bill and interest is paid upon maturity. The U.S. government has never defaulted on any interest-bearing obligations in modern history and is largely considered to be risk-free given the dollar’s role as the global reserve currency. Public U.S. government credit worthiness can be tracked through well-known rating agencies (U.S. Credit Rating).

Key Counterparties:

Fund Manager: Anemoy Limited

• Anemoy Limited is a recently formed asset management company launching its inaugural product, the Anemoy Liquid Treasury Fund 1 through its BVI wholly-owned subsidiary Anemoy (BVI) Management Ltd.
• Anemoy Directors, Martin Quensel and Jason Meads, have a combined 50+ years of finance, crypto, fintech and startup experience.

Custodian and Broker: Celadon Financial

• Celadon Financial is a regulated provider of a broad range of broker-dealer services for hedge funds, public/private companies and high net worth/family offices across the globe.
• Celadon operates in 47 international markets and has ~$925mm of assets under custody.

Exchange Agent: Circle

Bank: Silicon Valley Bank

Structural Considerations:

• The Fund will be a regulated investment fund approved by the British Virgin Islands Financial Services Commission, for which the shares of the fund are issued in tokenized form under BVI law.
• The proposed pool pertains to the Fund, representing a tokenized and fully regulated and registered fund in the British Virgin Islands.
• The Fund is open to eligible non-US investors only.
• Investors need to pass know your customer (“KYC”) and anti-money laundering (“AML”) requirements of the BVI.
• An exchange agent, bank, broker and custodian act as independent service providers making sure that the fund cannot repurpose funds or assets. There may be circumstances where these intermediaries are unable to perform their obligations which can result in delayed receipt of funds upon redemption.
• Further detail on structural considerations can be found here.

[martin]

Thank you @mark_hergen !

I’ll soon invite the community to our pool party to discuss our proposal and your feedback.

Thanks for the hard and good work and the quick turn around. Really appreciated.

-Martin

[christiancdpetersen]

@mark_hergen

An exchange agent, bank, broker and custodian act as independent service providers making sure that the fund cannot repurpose funds or assets.

How will the exchange agent, bank, broker and custodian perform this monitoring function? What is preventing Anemoy from utilizing the funds for any purpose?

@Martin - As noted in my earlier comments, it will be helpful to have a review of the underlying transaction documents … the devil is always in the details.

[ImdioR]

We would like to invite you all to a Pool Party and looking forward to meeting the community!

Pool Party Details

When: 7th September, 17-00 CET / 11 am Eastern time
Where: Zoom link
Google Calendar: Add this event
Who: Every DAO member and the Anemoy team
What:

• First, a personal introduction with an AMA is important to build trust and relationships.
• Second, we would like to focus on our POP to launch our first pool The Anemoy Liquid Treasury Fund 1 asap. This includes presenting the asset class and how it will be managed, answering all your questions, giving an outlook on the timeline, and discussing the next steps.
• Third, we would like to provide an outlook where we see Anemoy continuing to contribute to Centrifuge and the broader DeFI RWA ecosystem.

If you have questions in advance of the Pool Party, please write them in the thread below to contribute to the discussion

Let’s dive in!

[martin]

Thanks a million @ImdioR

[martin]

The fund is regulated by the BVI Financial Services Commission and therefore there is a statutory legal obligation that the funds provided by investors can be used solely for the purposes set forth in the Offer Document. Happy to share it with you as soon as the fund is approved in a the next few weeks.

[ImdioR]

Pool Party Rec:

2023-09 Centrifuge Community Call | Pool Party with Anemoy

[ImdioR]

Good day, Community.

This proposal, POP: Anemoy Liquid Treasury Fund 1, has been submitted to the Proposal Repository on GitHub so it is now final.

• Link to the proposal on GitHub: https://github.com/centrifuge/cps/blob/main/cps/CP66/CP66.md

The proposal has now moved on to an On-chain voting:

Please vote here:

Referendum 41 already started and will be open for 28800 blocks approximately 4 days (until 18/09/2023)

Do you agree with onboarding Anemoy Liquid Treasury Fund 1?

Please vote Yes or No.

[ImdioR]

Good day, Community.

Referendum 41 has successfully passed.
Result:

• Aye 2.3707 MCFG
• Nay 17.7000 CFG
  
  

Thanks everyone for participating.