I am looking to enter into forward contracts for the purchase of Tethers. Because I have been unable to find a venue that supports an appropriate version of this, I am coming to the public with the offer.
If you believe Tether will fail, then you can make money by delivering USDT in the future at the market rate. If Tether remains solvent, then I will make money by purchasing USDT at a discount.
I will enter into these contracts with anyone who can reliably be expected to be held accountable by the public, or with anybody willing to deposit the full liability up front. Note that, while we can impose a ceiling of $1.00 on USDT prices, your liability in this contract is necessarily greater.
Ultimately the terms will be a matter of discovery. Let's start by penciling in a settlement date of 3 months from now at a price of $0.10USD per USDT. For example, if Tether is worth $0.001 on that date, it will be profitable to buy USDT and sell them to me for $0.10 each. If Tether is a scam with 90% confidence, then this is a fair price.
Email email@example.com with your quote. Please include the amount you are willing to sell.
Proposed fine print: Either party has the option of requiring the contract to be paid in cash at the spot price. If Tether volume falls below 1M USD per day, the price will be assumed to be zero. Otherwise, the spot price will be the one day vwap over exchanges making up the top 25% of daily volume, allowing BTC, ETH, or USD pairs. If Tether is trading over $1.00 the overage will be ignored. If Tether forks, we will use the most actively traded fork.