Hi again everyone,
Here is the second post from the NeuCoin Forum that relates to strategy and accountability, this one about how the foundations plan to distribute NeuCoins from launch through yearend 2016.
The NeuCoin Foundations' plans for distribution of NeuCoin over 2015 and 2016
NeuCoin's founding principle is that the cryptocurrency should be distributed to all who grow its utility and value.
To this end, the NeuCoin Project is supported by three non-profit foundations - the NeuCoin Code Foundation, the NeuCoin Utility Foundation and the NeuCoin Growth Foundation - funded with 2.4 billion premined NeuCoin tokens:
- NeuCoin Growth Foundation: 1.4 billion NeuCoins
- NeuCoin Utility Foundation: 0.8 billion NeuCoins
- NeuCoin Code Foundation: 0.2 billion NeuCoins
During the first few years after launch, the number of NeuCoin tokens held by the foundations is expected to increase, because the extremely high PoS awards during the early years should be considerably higher than the foundations? expenses. Foundation coin holdings are projected to peak around year five, then decline slowly and ultimately stabilize at well under 5% of the total supply.
Below is a
high-level overview of the projected distribution of NeuCoin tokens by the NeuCoin foundations for the period
from launch through the end of 2016. This plan represents the foundations' best effort to distribute the cryptocurrency in such a way as to maximize its utility and value.
At the end of each calendar quarter, the NeuCoin foundations will publish accounts of actual NeuCoin distribution and update distribution plans for the remainder of the period.
NeuCoin Growth FoundationTotal projected distribution through yearend of 2016:
460 million - 1.1 billion NeuCoin tokensThe NeuCoin Growth Foundation's mission is to maximize the long-term value of NeuCoin by attempting to grow the largest possible base of active, engaged users. Hence, it will use its endowment to acquire users and to compensate others who help to acquire users.
1. Direct to consumers: 300 million - 750 million NeuCoins It is obvious that the more people there are who use a cryptocurrency, the more service and content providers will want to accept the token. For this reason, the largest share of the foundations' NeuCoin endowment will be given for free directly to consumers. However, simply "airdropping" free NeuCoin onto consumers - as in, giving 1,000 free tokens to every person in the world with a Facebook account or a cell phone - wouldn't work. The consumers would not have been qualified for receiving the NeuCoin, would not have been educated about its benefits, would not have shown sufficient interest in it.
Therefore, the NeuCoin Growth Foundation will only be awarding small amounts of free NeuCoin in exchange for consumers engaging with, trying out, and learning about NeuCoin: a "freemium", zero friction strategy giving new users a chance to have a good first NeuCoin experience for free. As such, the consumers receiving free NeuCoins will be qualified, educated and interested. Consumers will feel like they have "earned" their NeuCoin.
Some of the initially planned ways that consumers will receive free NeuCoin are the following:
- Signing up for an account at MyNeuCoin and validating that they are a unique user
- Completing the GetNeuCoin game-like, educational faucet
- Playing or winning an online game that integrates NeuCoin
- Tipping a musician or other content creator who has asked for a NeuCoin tip
- Trying premium content for free
The NeuCoin Growth Foundation's stretch goal is to acquire 5 million consumers by the end of 2016 and its base goal is to acquire 2 million consumers. It is expecting the average user to receive 150 NeuCoins from a range of activities, but lot of effort will of course be put into rewarding extra active users.
Note that all "freemium" NeuCoins distributed to consumers will be unrestricted for use or sale, while all other NeuCoins awarded by the three foundations (to exchanges, marketing partners, game developers, etc that increase the utility and value of NeuCoin) will be restricted for use or sale.
2. Consumer referral programs: 50 - 100 million NeuCoins Rewarding users for recruiting other users is a key part of NeuCoin's growth strategy. Out of the gates, NeuCoin will be launching a referral program whereby users who recruit their friends will earn 50% as many NeuCoin tokens as the recruited friend earns from NeuCoin's various direct-to-consumer bounty programs (such as playing a game, tipping a band, or completing a survey).
3. Marketing Partners: 100 - 200 million NeuCoinsWorking with various distributors, marketing and media partners that can help NeuCoin acquire new users is another top priority. While some user acquisition programs and ad buys will of course require payments in fiat currency, the NeuCoin Growth Foundation will seek out marketing partners that have large user bases and/or ad inventory who will accept payment in restricted NeuCoins.
4. Service Providers: 10 - 50 million NeuCoins Service providers doing contract work for the NeuCoin Growth Foundation include web design agencies, software and hardware consultants, law firms, PR and marketing agencies, creative consultants and more. While these types of contractors often require fiat, the NeuCoin Growth Foundation will award restricted NeuCoins whenever possible.
NeuCoin Utility FoundationTotal projected distribution through yearend 2016:
300 - 725 million NeuCoin tokensThe NeuCoin Utility Foundation works to maximize the value of NeuCoin by making NeuCoin both "as easy to use" as possible, and "more useful than traditional currencies" for specific applications. Hence, the NeuCoin Utility Foundation's endowment will be awarded to companies such as game publishers and content providers that accept microtransactions with NeuCoin tokens, exchanges, wallets, consumer mining services, payment processors, and other key services to NeuCoin users.
1. Exchanges: 50 million - 100 million NeuCoins Exchanges are crucial ecosystem partners for NeuCoin. The NeuCoin Utility Foundation will proactively seek out and work with exchanges to list NeuCoin. It will give exchanges initial bounties for integration (with higher bounties going to larger, more strategic exchanges; also bounty payments will be higher the earlier an exchange lists NeuCoin) plus an additional large pool of NeuCoin bounties will be distributed to exchanges based on the volume of NeuCoin trading that they facilitate in the year following launch.
2. Game Developers/Publishers: 100 - 200 million NeuCoins Integrating NeuCoin in online/mobile games is a top priority, from both a user acquisition and consumer utility perspective. The NeuCoin Utility Foundation already has two prototype games in development based on popular, generic games that will demonstrate how NeuCoin can be incorporated into game experiences - giving out free NeuCoins as a reward for playing, winning, leveling up, etc. Using the prototype games as pilots, the NeuCoin Utility Foundation intends to partner with leading game publishers with large existing user bases to integrate NeuCoin.
3. Premium Content Creators and Platforms: 100 - 200 million NeuCoinsIn addition to the gaming vertical, NeuCoin will also be compensating content creators and platforms that integrate NeuCoin's solutions for tipping and ad-free premium content (pay-per-view, ad-free and micro-subscriptions). The NeuCoin Utility Foundation plans to award relatively modest NeuCoin bounties to partners for completing integration work and making commitments to marketing on their platforms. It will award higher bounties to partners based on success metrics. It will also be funding NeuCoin compensation to individual content creators.
4. Wallets: 10 - 100 million NeuCoins With the online wallet MyNeuCoin as a first reference the NeuCoin Project will encourage competition and work to incentivize third party companies to develop more and differentiated wallet services for the NeuCoin ecosystem. Also, while this may not be realistic until NeuCoin has reached millions of consumers, the NeuCoin Utility Foundation will work to get established cryptocurrency wallet service providers to integrate NeuCoin.
5. Mining Pools: 10 - 25 million NeuCoins Making it easy for regular consumers to participate in mining pools is an important priority. With MyNeuCoin's "Growth Accounts" as a reference, the NeuCoin Utility Foundation will encourage competition and work to incentivize third party companies to bring more choices to the NeuCoin ecosystem.
6. Payment Processors: 20 - 50 million NeuCoins Some online merchants, content and service providers will want to accept NeuCoin as a payment option for microtransactions - but need to convert the NeuCoin payments directly into fiat. The NeuCoin Utility will seek out one or more payment processors to provide this service and reward them with restricted NeuCoin.
7. Service Providers: 10 - 50 million NeuCoins Service providers doing contract work for the NeuCoin Utility Foundation include web design agencies, game development studios, software and hardware consultants, law firms, consultants and more. While these types of contractors mostly require fiat, the NeuCoin Utility Foundation will award restricted NeuCoins whenever possible.
NeuCoin Code FoundationTotal projected distribution through yearend 2016:
20 - 40 million NeuCoin tokens
The NeuCoin Code Foundation's mission is to maximize NeuCoin's long-term value through stewardship of the source code. Its main goals for the code are: security, decentralization, scalability, and the development and maintenance of NeuCoin's voting mechanism.
1. Bounties to the cryptocurrency community: 10 - 20 million NeuCoin tokensTo foster an active developer community, The NeuCoin Code Foundation will award bounties in the areas that relate to the NeuCoin source code and whitepaper, as well as the areas of security, scalability, decentralization, nodes, etc.
2. Service Providers: 10 - 20 million NeuCoin tokensService providers doing contract work for the NeuCoin Code Foundation include software and hardware consultants, security experts, law firms, jurisdictional consultants and more. While these types of contractors mostly require fiat, the NeuCoin Code Foundation will award restricted NeuCoins whenever possible.
because we still don't know how they structured distribution of BTC from public presale as well as distribution of $$$ from strategic angel investors prior to public resale. Recently they have once again silently reduced their $$$ funding commitment for foundations...
