FORM PLG-1ORIGINAL — RETAIN FOR YOUR RECORDSPAGE 1 OF 1
The Pledge Mark, a green handshake seal

Instrument of

Pledge

$PLEDGE

Pledge collateral. Fund the community. Split the return.

This page sets out the terms of Pledge. Holders pledge collateral into one shared pool. The holders vote on which community project the pool funds. When the project returns, the return is split among everyone who pledged, in proportion to what they pledged. That is the whole arrangement.

A stamped pledge card on cream paper
Exhibit A. The instrument, stamped.

§1 Definitions

“Pledge”
Collateral a holder commits to the pool. It is the only way in.
“Pledger”
Any holder who has made a Pledge. There is no other membership.
“Pool”
The sum of all Pledges. It is held in common and committed by vote.
“Quorum”
The share of pledged weight that must vote before a proposal can pass.
“Project”
A community undertaking proposed for funding from the Pool.
“Return”
What the funded Project sends back to the Pool.
“Payout”
A Pledger’s share of the Return. See §3.

§2 Procedure

  1. 2.1

    Pledge

    The holder commits collateral to the Pool. The Pledge is recorded against the holder’s address.

  2. 2.2

    Propose

    A Project is put forward with an amount requested and the terms of its return.

  3. 2.3

    Vote

    Pledgers vote with their pledged weight. Without Quorum, nothing passes.

  4. 2.4

    Fund

    A passed proposal is funded from the Pool. The amount sent is the amount voted.

  5. 2.5

    Return and split

    The Return comes back to the Pool and is distributed under §3.

§3 Distribution

Each Pledger receives the Return multiplied by their Pledge, divided by the total of all Pledges behind that Project. No tiers. No bonus. No discretion.

Schedule 3-A. Line items on every distribution statement.
LineItemSource
01Pledged by youYour recorded Pledge
02Total pledgedSum of all Pledges to the Project
03Your shareLine 01 ÷ Line 02
04Return receivedAmount sent back by the Project
05Payout dueLine 03 × Line 04

§4 Representations

  1. Pledge is a funding instrument. It is not a loan. Nothing is borrowed against anything.
  2. There is no mascot. The Pledge Mark is a seal, not a character.
  3. Figures are stated exactly or not at all.
  4. No pledge, no vote, no cut.
  5. A Project may return less than it was given. The split applies to whatever comes back.

§5 Execution

Executed by the undersigned Pledger on the date of pledge.

 Signature of Pledger
 Date