I strongly support Ribbon using Porter to raise working capital via debt. Nascent is an investor in both Ribbon and Porter. Our Chief Architect, Brock Elmore, recently participated in an audit of Porter’s contracts conducted by Spearbit, also a Nascent portfolio company. I state this both to disclose our bias and to show how deeply familiar we are with Porter’s offering.
Given the current market conditions, it is especially attractive for Ribbon to raise working capital via debt using Porter, rather than by selling RBN. Other DAOs are also likely to find this a compelling proposition and Ribbon dog-fooding this offering will help build awareness and confidence for the Ribbon Treasury product.