## 4 Scenarios
### Scenario 2: Financial Institution, General Contractor and Investor  
During the Superbonus 110% reliefs process, the financial institution operators manage the Investor DAO (\(dao_{IN}\)) and Operator DAO (\(dao_{OP}\)). In this simplified scenario, a single financial institution \(FI_{i}\) and a single General Contractor \(GC_{i}\) are considered. \(FI_{i}\) is the founder on both DAOs and is the guarantor of the tokens \(t\) minted in the \(dao_{IN}\). It is responsible for the minting \(\mu(t_{dao_{IN}})\) and distribution \(\delta(t_{dao_{IN}})\) of minted tokens to investors. The \(dao_{IN}\) is a closed and restricted fund until the end of the program, with a fixed number of investors. Each evo of fiat money invested generates one token \(t\) in the \(dao_{IN}\).  
The minting phase \(\mu(t_{dao_{\ast}})\) and burning phase \(\beta(t_{dao_{\ast}})\) occur in both DAOs, with the freezing phases \(\phi(t_{dao_{IN}})\) and minting phases \(\mu(t_{dao_{IN}})\) in the \(dao_{IN}\). (i) The \(\beta(t_{dao_{OP}})\) and release \(\rho(t_{dao_{OP}})\) phases occur in the \(dao_{OP}\), where the tokens are redeeamed against the \(FI_{i}\). (ii) In the \(dao_{IN}\), the phase of releasing \(\rho(t_{dao_{IN}})\) occurs once the credit has matured, and (iii) the \(FI_{i}\) can sell the credit on the \(GC_{i}\). (iv) Finally, the burning phase occurs in \(dao_{IN}\) at the end of the program when the fiat money, including profits, is returned to the investors. An example of such interactions is described in the following paragraph and corresponding sequence diagrams.  
a. Phase of Freeze \(\phi(t_{dao_{IN}})\) and Minting \(\mu(t_{dao_{IN}})\). The freezing takes place in the Investor DAO. For every 100 tokens requested by the Operator DAO, 95 tokens from the Investor DAO are frozen. With the verified constraint 2, specified in Section 3.1, the link between the two tokens is established, and 95 Operator DAO tokens are minted and assigned to the requesting General Contractor's wallet (see sequence diagram in Figure 6).  
b. Phase of Burning \(\beta(t_{dao_{OP}})\) and Release \(\rho(t_{dao_{OP}})\). Once the tokens in the Operator DAO end their life cycle (e.g., arrive at a supplier that needs to monetise the goods supplied), they can be redeeamed against the financial institution. Tokens in the Operator DAO are burned and taken away from the operator wallet; at the same time, tokens previously frozen in the Investor DAO are released and are available for releasing or burning (see sequence diagram in Figure 7).  
c. Phase of Releasing in the Investor DAO \(\rho(t_{dao_{IN}})\). Once the credit has matured via spending and raise of discounted invoicing (see above phases), the financial institution can sell the credit on secondary markets. Once this happens, the FI (let us say EUR 110 credit is sold at EUR 105) releases the 90 tokens frozen in the Investor DAO and mints the exceeding 15 tokens, generating those profit for the investors (see sequence diagram in Figure 8).  
d. Phase of Burning in the Investor DAO \(\beta(t_{dao_{IN}})\). Tokens are burned in the Investor DAO at the end of the program once fiat money, including profits, is given back to the investors (see sequence diagram in Figure 9).  
Figure 6: Sequence diagram of Scenario 2. (a) Freeze and minting in the Investor DAO due to a General Contractor request for a new project.  
Figure 8: Sequence diagram of Scenario 2. (c) Example of value generation in the Investor DAO due to tax credit selling.  
Figure 7: Sequence diagram of Scenario 2. (b) Burn and release in the Operator DAO following a fiat liquidation request from suppliers.