kaal:claim:3949098-014

In a firm commitment underwriting deal whose public portion does not sell out, a member is forced to sell reputation non fungible tokens on the over the counter market to satisfy the resulting capital call, but only if that member cannot cover the pro rata capital requirement with liquid capital.

Source quote, verbatim
the inability to sell out the public portion of the firm commitment deal, the respective RNFT member is forced to sell RNFT on the OTC market only if the respective ICD member cannot satisfy his or her pro rata capital requirement with liquid capital held by the ICD member.
From

Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021), II. Basic Concept, 2. Liquidity, p. 9
https://ssrn.com/abstract=3949098 · source PDF

Cite as

Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098

Holds when
Classification

failuresupport: arguedfailure: Forced RNFT Liquidation On Undersubscriptionfamily: token-transferability-defectdefieconomics

Verify

The quote above is an exact substring of the source PDF, whose sha256 is 04297905564a6092b2db7640561f58fd374d3114c79527357bad09d11b909819. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/5886c0e74de4bb14...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3949098-014.md | sha256sum