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+---
+sip: 413
+title: Updated terms for TLX aquisition
+author: Fenway
+type: Governance
+network: Ethereum
+Created: 2024-11-30
+status: Draft
+release: TBD
+---
+
+## Simple Summary
+As per SIP-412, Synthetix is seeking to acquire TLX as the foundation for launching an integrated vault strategy.
+
+This SIP includes an additional acquisition term to pay a 6 month distribution, based on historical performance, as negotiated with TLX.
+
+## Abstract
+This SIP proposes adding the following term to the TLX acquisition.
+- TLX tokenholders will receive a pro rata distribution of 700k stablecoins 6 months after the start date defined in the transaction contract (i.e. the date TIP-14 passes and SIP-412 and SIP-413). The distribution weighting will also account for the duration a converted TLX holder held their SNX claim in their conversion address.
+
+This is in addition to the existing terms stated below.
+- 18 [TLX](https://optimistic.etherscan.io/token/0xd9cc3d70e730503e7f28c1b407389198c4b75fa2) <> 1 SNX, this represents an 8% discount to the 30d average price.
+- This is an implied valuation of $4.0m based on a circulating supply of 47m and a 30-day average SNX price of $1.53.
+- SNX received from acquired token conversions are subject to a 1 month lock and 4 month linear vest following the lock period.
+
+## Motivation
+After much negotiation with the TLX community and Tabby Council, this term was added to improve the likihood of the acquisition taking place.
+
+## Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).