See video of presentation here: https://youtu.be/rtYzztCpOik Thibauld presents the Continuous Organization model, how it works, what its benefits are for both entrepreneurs & investors and the challenges his company, Fairmint, is tackling to build the 1st platform for continuous financing. Thibauld is the CEO of Fairmint and author of the Continuous Organization whitepaper, an idea he started exploring after deep diving into TCRs, bonding curves and combining it through his entrepreneurial experience. Prior to Fairmint, Thibauld co-initiated LaPrimaire.org, a non-profit initiative aimed at transparently & democratically crowdsourcing the best candidates for the past french 2017 presidential election which gathered 150.000 citizens. Previously, Thibauld co-founded and led Allmyapps, the 1st App Store for PC at the time with 3M monthly active users, which he sold in 2014. Thibauld holds a masters degree in Computer Science and and a masters degree in Corporate Finance. Fairmint aims to reinvent how organizations are financed by letting all stakeholders invest and take part in the long-term financial success of the organizations they believe in. Based on the research work on Continuous Organizations, Fairmint enables an organization to continuously issue its own revenue-based financial products, marketing them to its stakeholders and our pool of investors. Less constraining than a bank loan and more liquid than an equity investment, Fairmint lets entrepreneurs open a continuous financing stream for their venture without giving away control and while staying focused on the growth of their business. Rabbithole Talks is a monthly CoinFund meetup, focused on doing deep dives into innovative token economics and technical design decisions for interesting blockchain-based projects. CoinFund Twitter: https://www.twitter.com/coinfund_io More on Continuous Organizations: https://hackernoon.com/introducing-continuous-organizations-22ad9d1f63b7 Thibauld Favre Twitter: https://twitter.com/thibauld Fairmint Twitter: https://twitter.com/FairmintCO

1. reinventing “going public” with
continuous financing
@thibauld
CEO @fairmintco

2. How many public companies
exist in the world?

3. How many public companies
exist in the world?
45,740*
* Source: World Federation of Exchanges

4. How many public companies
exist in the US?

5. How many public companies
exist in the US?
3,671
down from 7,322 20 years ago

6. “going public”
is not a goal anymore

8. “going public”
is very traumatic

9. “going public”
is very traumatic
● Radical transparency required
● Important compliance costs
● Huge restrictions on communication
● Short-termism of financial markets
● Shareholder governance

10. “Private” is the new “Public”

11. “Private” is the new “Public”
…and it’s bad!

12. “Private” is the new “Public”
(although not for everyone)

13. “going public”
is a good thing™

14. “going public”
is a good thing™
● Enable broad distribution of equity and great
stakeholders alignment
● Enable non-professional investors to access
the greatest wealth building financial products

15. Crypto = fresh air

16. Crypto = fresh air
Unregulated markets where I sure can get rekt…
but I can also make a lot of money if I'm smart.

17. Crypto = fresh air
Unregulated markets where I sure can get rekt…
but I can also make a lot of money if I'm smart lucky.

18. Crypto vs Traditional Finance

19. Bottom line:
It’s all about
protecting investors

20. Historically:
Investor protection =
Information disclosure

21. Can we bake investors’
protections inside the protocol?
(so that less information disclosure is needed)

22. Introducing
Continuous Financing

23. # token (supply)
Issuance price function
price
X
Amount currently
invested
# token already
issued

24. Min buy-back price function
Issuance price function
price
# token (supply)
Value stored in
Underlying Asset

25. Min buy-back price function
Issuance price function
price
# token (supply)
+ Revenues

26. Min buy-back price function
Issuance price function
price
# token supply
Is reduced
# token (supply)
X

27. Example
price
time

28. Example
price
time

29. Example
price
time

30. We call this new token
FSE
(Fairmint Synthetic Equity)

31. We call this new token
FSE
● Continuously open primary market
● Floor price driven by revenues + investors
● Guaranteed last-resort liquidity

32. reinventing “going public” with
continuous financing
@thibauld
CEO @fairmintco