Model 2, Renewal & Expansion to ABL Facilities:

Cicada requests a 1/3rd base grant and 2/3rds performance grant from the DAO to support our efforts to commercialize TrueFi Lines of Credit and Credit Vaults. Our ask is to expand the DAOs RWA capabilities by offering lending facilities for asset-backed lines of credit. To enable this, we ask for an extension of the timeline to give us greater visibility given loan durations are 6-9mths in tenor:

1. Base Grant: 4.5M TRU tokens, 30% front-loaded, remainder vested over 9 months.
2. TVL-Based Performance Grant: We recommend three tiers of TVL-based performance compensation. If aggregate TVL across Cicada underwritten vaults exceeds $10/25/75M as outlined below, TRU rewards step up by 1/2/3M, respectfully.
3. Vaults Underwritten: Additionally, we recommend three tiers of underwriting-based performance compensation.
4. To align incentives, but lock in a reasonable range of TRU-based pay for both sides, we’d request to get paid in a fixed amount of TRU tokens.