THW implement trills as an instrument of debt financing for developing countries.
A “trill” is a hypothetical bond that, instead of paying its owner a principal, pays out an amount equal to one trillionth of its country’s GDP on an annual basis. A trill would be issued in much the same way as a bond, with a certain face value, except it pays out an annual amount “in perpetuity” instead of having a maturity date. In the status quo there are very few GDP linked futures, and if they exist they are very dissimilar to trills. “Debt financing” refers to the common practice of a state selling debt to investors in exchange for an agreed-upon type of contract (e.g. bonds, trills)