[modeless]

Their remaining assets after they were hacked. They gave everyone's account a 36% haircut and issued a kind of equity to "cover" the rest. I guess it ended up working for them because they're still around, but personally I wouldn't touch Bitfinex with a ten foot pole.

And I think I read that SVB's losses this week exceeded their cumulative profits since inception so it seems likely that even 100% ownership of the company wouldn't be valuable enough to make their customers whole.

[rvnx]

It's not a good solution to give pieces of equity and/or claims on future cash distributions, but it sounds better than forcing to liquidate everything in a rush immediately.

Another way could also be to apply when you are withdrawing the money:

1st yr: 10% withdraw fee

2nd yr: 9% withdraw fee

3rd yr: 8% withdraw fee

etc

with the rate adjusting down every year.

[modeless]

Or, you could liquidate everything now and give people cash today that they could choose to put into treasuries themselves, earning a rate much better than your proposed lockup fee schedule. That sounds much faster and simpler and ultimately better for everyone.