# Bonded Personal Tokens w/ Interest and Dividends

Allow for anyone to create a personal token of value that others can invest in or use to redeem a service.

### Listing the token
* Beneficiary (owner of personal token) sets the bonded token params which determine the initial price and slope:
* initial amount to be minted
* % of collateral backing the reserve
* % split of payments between reserve and beneficiary
* amount of initial liquidity to deposit in collateral tokens (e.g. ETH or DAI)
* Initial mint of tokens is put in a hatching pool that sells at a static price until sold out
* All deposits to reserve are converted to rDai where interest distributions are split between the reserve and beneficiary, and token holders receive downstream dividends of interest payments to the beneficiary (see **Beneficiary is paid**)

### Purchasing tokens
* A portion of the deposit goes to the beneficiary and the rest to the reserve to increase the value of the token
* Incoming funds to the reserve are converted to rDai

### Selling tokens
* Liquidity pool allows for unredeemable tokens to be cashed out at any time
* A small exit fee is sent to the reserve to maintain the value of the token

### Beneficiary is paid
* When a beneficiary is paid (say, on Gitcoin), token holders receive a portion via dividends
* This applies to interest payments as well

#### Misc
* Personal tokens would be tradable between each other based upon the Bancor formula
* Could have bonded Tribe tokens as well
* Could use 1337 subscriptions to have recurring purchases (retainers)
* Could use Sablier to have streaming purchases (on demand work)
* Could replace grant giving with bonded token purchasing where the CLR match goes to the beneficiary of the most diversely purchased tokens*
* Alternatively could have the matching funds purchase a proportionate amount of each project's bonded tokens, which would place the sponsors in a position of vested interest in the further success of the matched projects and, if the project is successful, will generate return on such (as opposed to no return)

\* via Gitcoin's pairwise matching algorithm
\* See OpenRaise for how token pricing, payment splits, and dividend payouts work: https://github.com/dOrgTech/OpenRaise/blob/master/docs/BondingCurve.md