Power Down v1.0 (successor to Share Repurchase v2.0)
What is powering down?
Powering down is the process of returning the value of the Taupemist asset portfolio directly to members who seek to withdraw their contribution by allowing members to sell a portion of their TM (the TaupeMist asset) back to the taupemist1 account.
How does it work?
Each member will now have the convenience to commence powering down at any time of the day they wish and will have their request processed within 24 hours.
As with Share Repurchase 2.0, the prevention of inadvertent price manipulation to provide price stability and security to TaupeMist members using a low level of illiquidity will continue however, the upper limit will be removed.
The existing timeframe will be replaced with the introduction of the power down period where the member will receive regular payments at fixed intervals based on the TM price at the time of the payment.
As with Share Repurchase 2.0, this allows TaupeMist to more effectively determine the size of repurchase pool and provides Taupemist members with the assurance that liquidity is readily available.
Power Down Period: Ten Weeks
Payments: Five
Payment Interval: Fortnightly
How can I power down?
Log on to you Bitshares wallet and select "Send" from the top menu and enter the details as follows:
TO: taupemist1
QUANTITY: (insert the amount of TM that you wish to power down)
Remeber to select the asset type "TaupeMist" via the drop-down on the right
MEMO/MESSAGE: power down
FEE: (determined by Bitshares/default)
Your first payment will be processed within 24 hours.
Where can I see the TM price?
Navigate here: https://www.cryptocompare.com/portfolio-public/?id=195849
Observe the "Holdings" value (located between "Profit / Loss" and "24H Profit / Loss" values)
Divide the "Holdings" value into 100 to determine the current TM price.
Am I required to power down?
No. Members are not obligated to power down and hold the freedom of choice to initiate a Power Down at any time they wish.
I am currently powering down and wish to cancel.
Members have the ability to cancel their power down at any time and any remaining TM will be refunded to them. The member can restart a power down at any time they wish and will receive their first payment in respect to the existing payment interval.
When can I send the TM I wish to power down, to taupemist1?
Anytime between the now (24/04/2018) until explicitly closed or amended.
If you have any questions or uncertainties, then please ask via a reply to this post.