Deal or No Deal
If a sponsor never creates a deal the investor can withdraw their funds the same way as if they reject the deal
If the SPONSOR finds a deal after the purchase expiry period, the SPONSOR creates and announces the deal terms to the investors and then the holder has a specified time period to send the underlying deal tokens/ tokenized assets to the contract.
If the funds are sent, the investors can convert their Pool Tokens (or a partial amount) to deal tokens, which represent a claim on the underlying deal token
If a SPONSOR proposes a deal that is not funded by the deadline, the SPONSOR is able to create a new Deal anytime after the deadline has passed.
The purpose of this is to allow a SPONSOR to find a new Deal if they agree to terms but the HODER fails to deposit the funds in time. The sponsor can still present another deal to the Pool.
Once the Deal is available, you can either reject or accept the deal. And you
At this point you can no longer transfer their Pool Tokens.
You can Reject all or a potion of the deal. When you Reject you will receive back your contribution. No fees are charged at this point.
When you accept a deal, you can also choose to Accept all, or just a portion (in this case you'll get back the remaining) and there are 2 main scenarios you may be confronted with:
Scenario 1: Conversion Ratio == 1:1 (e.g. a pool has $10M sUSD in it and the deal is for $10M sUSD)
In this scenario, for every 1 Pool Tokens of contribution, you'll get 1 Deal Token. (e.g. a user who purchased $100 sUSD of pool tokens receives $100 allocation)
Scenario 2: Conversion Ratio is less than 1:1 (e.g. a pool has $10M sUSD in it but the deal is for $8M sUSD)
In this scenario, for every 1 Pool Tokens of contribution, you'll get 0.8 Deal Token. They may withdraw their remaining amount at any time or used for the Open Redemption Period. (e.g. a user who purchased $100 sUSD of Pool Tokens receives $80 allocation)
After accepting the deal:
- 1.Your Pool Tokens will be sent to the HOLDER
- 2.2% of the Deal Tokens will be sent AELIN Token Holders as Protocol Fees
- 3.and an optional % from 0 to 98 to the SPONSOR which was set during Pool Creation
This happens when you max out your allocation in Scenario 2, making you eligible to participate in the open redemption period.
Here you may redeem the remaining Pool Tokens for Deal tokens up until you have used all your funds or the deal cap has been reached.