A couple of volatile weeks in Digital Credit has surfaced some confusion around investor protections built into our product $SATA. While the price has moved a bit, the investor charter remains unchanged. Every term below is filed with Nevada Secretary of State and contractually built into $SATA. Cash flow protections: 1. 13.00% per annum, paid in cash every business day (variable rate) 2. Rate can't be cut into weakness. The board may only lower it if the prior period's average price is at or above $99. Below $99, the rate is frozen. 3. Rate can't gap down. Any rate cut is capped at 25 bps/month (widened by SOFR declines), can never be set below SOFR, and can never go negative. Penalty backstop: (dormant unless a dividend is ever missed) 1. Any missed dividend becomes cumulative and co
View on X ↗