Renpo DAO is an alternative way for the crypto ecosystem to finance itself. We think that venture model is an outdated, vestigial structure left behind from the web 2 era. We are building financing model based on the coolest parts of web3 by empowering founders to build products for the communities they serve.
Quick overview:
The DAO will offer founders USDC debt with interest paid back in a token (or similar) upon a liquidity event for the project. In simple terms the DAO lends $100 USDC and gets back $100 USDC + tokens (or similar). We lock these tokens in treasury for a long time (years) and let the founders do what they do best, Build!
Governance NFT:
Each investor and founder receives 1 NFT which will be used to govern the Fund DAO. Each action of the fund requires approval from the majority of NFT holders with a minimum quorum required for legitimacy. The NFT is non-transferrable. This is effectively your “membership”
Mango Locker:
When you come across a project that you decide you’d liket invest in, you and the other investors that will be lending to that founder will come to terms on the rate and milestones, record that on the boilerplate agreement provided by renpo and a mango locker will be spun up. Then as the project develops, you and the other investors can determine if funds should unlock from the mango locker to the protocol based on their progress.