Hi all,
Because of the nature of the original contract between myself and Synergy's underwriter, it was no longer in my best interest to continue operating Synergy. Because of this, we have performed a buyback of all bonds as per the contract, at 105% the 30d average price.
I'm going to keep the ticker alive but inactive on BTC-TC, in case I want to issue mining bonds under a new contract in the future.
Best,
Garrett
Public Contract:
The holder of this bond will receive as coupons a number of Bitcoins equivalent
to 100% PPS output of one million hashes per second for the duration of time the
bond is held. All coupons will be paid on the Saturday of each week for the
previous seven days of mining. This bond is 100% underwritten by a private
investor. If operation is ceased at any time, during the same week the Investor,
not the Manager, will repurchase all bonds at 105% the 744 hour average price.
Old OP:
Great news, everyone!Synergy is live on BTC-TC! Check it out at
https://btct.co/security/SYNERGYBondholder info has been processed by BTC-TC this morning and everyone on the lists supplied by GLBSE will be recieving an email shortly.
Be sure to check your spam folder! If you didn't receive an email and you are a bondholder, please contact me at
[email protected] and include your email and bitcoin address you gave to the GLBSE claims form, and the number of shares you own.
After you receive your email containing the account login information, I recommend that you make a new account which you will more easily be able to remember and transfer the shares accordingly. BTC-TC has no internal transfer fees
Additionally, I am automatically emailed a bondholder list every 12 hours, so we won't have this problem if the new exchange ever shuts down!
Cheers,
Garrett
Synergy will be the most competitive mining bond on the market.
I have been fully underwritten for the bond (by a private investor who wishes to remain anonymous), so there will be no IPO askwall to deal with.
Initially we will release 23237 1mh/s bonds, a which will be sold at the respective owner's choosing. The first coupon payment will take place Saturday, June 9, 2012, and will be a full coupon, calculated including all seven days before the payment.
I am already verified with the GLBSE and have an outstanding reputation managing Cognitive.
Contract:
The holder of this bond will receive as coupons a number of Bitcoins equivalent to 100% PPS output of one million hashes per second for the duration of time the bond is held. All coupons will be paid on the Saturday of each week for the previous seven days of mining. This bond is 100% underwritten by a private investor. If operation is ceased at any time, during the same week the Investor, not the Manager, will repurchase all bonds at 105% the 744 hour average price.
As always, input is appreciated.
Cheers,
Garrett
