So what is happening? We have two groups of DEV of Sprouts now...one wants to swap and make Sprouts+ and another to improve. Is that right?
We have group Sprouts+ who want to do a swap to make Sprouts+
The proposal is to swap your holding in Sprouts with a reduction of 1:4000 and then on top of that hand over another 40% to the DEV team.
To ease the pain it is explained that only 24% will be handed over to the DEV team for development and salaries, and 16% will be held by the DEV team to secure the network.
This means if you have 100 000 SPRTS now, you end up wih 15 Sprouts+
The 40% can not be put to a vote, because as stated it is a "fact" and community input will not be considered regarding this.
The other group was only formed yesterday and today, is against the 40% going towards the DEV team and want the community to decide how things should develop.
The way it is done in crypto communities.
We aim to improve Sprouts by reducing the reward system and addressing the high circulating supply by any means possible.
As stated earlier in this thread, we are in discussions with a new DEV to explore all possibilities.
It took the Sprouts+ team since Apr/May to get where we are now, we are only busy for a day and we are fully aware of the pressure to get things done and also offer a quality solution.
Community input is welcome.
Please bare with us, we will keep the community updated.
To clear up once again some false inaccuracies sprouted by Oogone:
Oogone: "We have group Sprouts+ who want to do a swap to make Sprouts+"
True.
As discussed we have called our new currency Sprouts+. A new currency is unavoidable. Even Oogone and his dev team will need to create a new currency, forked (presumably) from the existing Sprouts code-base.
Oogone: "The proposal is to swap your holding in Sprouts with a reduction of 1:4000 and then on top of that hand over another 40% to the DEV team."
False. Inaccurate.
Part 1:
The ratio voted on by the community was for a 1:1000 ratio. The exact ratio (within the 1:1000) will not be known until the swap occurs as it's dependent on the total supply at the time.
Part 2:
As discussed at length now, in order to protect the new currency, as is done regularly by many new currencies, we have opted to hold in escrow, 16% to assist in avoiding mass dumps, volatility and other vectors of attack. We have also run calculations and come to the conclusion that a 24% capital account is needed in order to fund the new organisation across a minimum of three years.
Oogone: "To ease the pain it is explained that only 24% will be handed over to the DEV team for development and salaries, and 16% will be held by the DEV team to secure the network."
False. Inaccurate.
It was explained that to ease the pain, if you continue to stake between now and the coin swap, you'd likely end up making more than 40% new holdings before the swap takes place, thus, nullifying the additional 40% we're adding to the circulation.
I.e. That you'd end up ahead, rather than behind. Meaning: as long as you keep staking, you will not lose 40%, you will gain, more than 40%!
Oogone: "This means if you have 100 000 SPRTS now, you end up wih 15 Sprouts+"
False. Inaccurate.
As mentioned above, the exact ratio within the 1:1000 will be unknown until the swap.
The calculation is as follows: Total supply divided by 300 Million (allotment for swap) = ratio
Your holding divided by ratio = Sprouts+ holdings
Let's say though, for example, that the total supply at the time is 900 Billion coins and you hold 4 Billion coins:
(900 B divided by 300 M = ratio of: 3,000) (your holding: 4 B divided by 3,000 = 1,333,333.33 Sprouts+)
Oogone: "The 40% can not be put to a vote, because as stated it is a "fact" and community input will not be considered regarding this."
True.
In order to:
a) protect the new currency from various vectors attack and;
b) to have enough capital to actually run the organisation globally and to gain real value, we calculated we would need 24% capital (based on existing market cap and projections) spread across at least three years, and within this 24% we have included everything from eight people quitting our current day jobs and a few closing down our businesses to leasing office space, hiring employees, signing multi-year contracts with third parties, insurance and indemnity, sales and marketing campaigns, a buffer should things go wrong, and the list goes on.
Three of our team own and operate companies and businesses currently and have done so for a number of years. We have based the 24% on our combined knowledge of operating such entities and so we feel confident the figures we have come up with, are indeed a good representation of what will be required.
Also as discussed at
https://Sprouts.Community , if the 16% reserve is no longer required after two or more years, we would discuss with the community how best to distribute it down the track.
The Sprouts & Sprouts+ Development Team