Topic: [ANN] SuperNET NXT asset 12071612744977229797, SUPERNET KMD assetchain in summer - page 165. (Read 736772 times)

Can your or someone explain why SuperNET is going to be holding 10%?  You say this amount is not dilutive and should not be considered when calculating value per UNITY, but that only makes sense if it will always be held by SuperNET - and if that is the case, I don't understand the purpose for it to exist in the first place.  You say working capital as if it will be sold when needed.

10% in addition to the 10% he would get anyway.

Yes, confusing indeed.  But I got it now.  I was just calculating under the wrong assumptions.  Good explanation, btw.


So to put it differently, you contributed 34% to the total UNITY and will only get a maximum of 10% of the total UNITY back if bonus conditions are met.  That sound right?

It is confusing, but it does appear correct (not having independently verified the underlying numbers regarding BTC-equivalent raised and BTC value of the included assets).  But taking those numbers at face value, TOKEN holders should directly own 70% of UNITY.  So you divide the tokens purchased (571k) by 70% and get 816k total UNITY issuance.

I think the distinction between that and multiplying by 130% was the first big confusion.  The second is the non-dilutive nature of the 20% (10% working capital and 10% held in reserve for potential bonus to James).  This is UNITY that UNITY itself owns.  The working capital portion will become dilutive only as it gets spent (if it gets spent) as currency, in lieu of spending out of the cash raised.  It's somewhat like authorized, but not issued, stock.  The James bonus only becomes dilutive if/when it is awarded, which is a nice problem to have.

Also, regarding the buywall - people should view this both as a courtesy backstop (it shouldn't need to be there if the market is anywhere close to efficient, but it gives peace of mind, and a guaranteed opportunity to cash out if someone really needs liquidity) and as an additional opportunity for those who plan to hold long-term.  Just as companies will buy back their own stock when they feel it is undervalued, you don't want your "company" to always be trying to buy back shares at the fair market price.  If there are temporary market disruptions, or occasional panic sells, UNITY buying back its own shares at a discount is accretive to you the UNITY holder.  It increases your percentage ownership at a favorable price.

Thanks for explaining this again. I think most of the Stakeholders got it by now. 

Ah, okay.  I guess I was under the impression that the bonuses would be based on the total TOKEN sold, not the total UNITY at the end of all this.  That's what threw me off.

Divide 244817.8598 by 816061 (the full final amount) and you'll get 30%

(ignore  652849.2402 figure, that was a mistake.)

Thanks. Got it now. Just making sure I understood everything (and that others did too).

 James, It is pretty easy to understand. You are protecting holders of Unity by removing the assets from the NAV. The Market should price in the Assets + a premium.

Okay, dividing by 0.7 does give roughly 816061.

But 816061 (minus) 571243.1402 = 244817.8598

244817.8598 (divided by) 571243.1402 = 0.42857 or about 42.857% of TOKEN sold (not 30%)

Sorry, I'm no math whiz, so I guess I'm having trouble grasping this.

Also, still doesn't explain where the 652849.2402 came from.

Long live James

thanks. can you please explain to people. I know it is confusing with all the non-dilutive 20%.

James

The assets are in SuperNET

The buywall is based on non-asset NAV as I have been saying all along. There is about 2500 BTC of marketcap from the assets that I essentially donated, so to allow people to cashout and weaken SuperNET to tap into this amount is not right. The buywall NAV is to provide liquidity in case the market isnt.

James

10% for me
10% for SuperNET
10% for bonus in reserve
70% for TOKEN owners

TOKEN owners currently own 7/8'th of SuperNET as the 20% for SuperNET and bonus reserve are not dilutive

keep in mind the TOKEN owners put in ~5700 BTC and I put in ~3000 BTC of assets, so on a prorata basis I would have 34%

Do we need to convert TOKEN to UNITY after the ico is over? How is that going to work?

+1

The numbers seem correct to me.

What are you saying here? If the NAV is excluding the assets, who owns them? Supernet, or you?

You divide by 0.7, you don't multiply by 1.3

Oops, you're right! I was looking at the wrong figure. Sorry for my mistake. I do have 2 masters degrees but never bothered to collect them. That's probably why.
James will have to explain.

If that's the case, 571243.1402 + 30% = 742616.08226

Sorry, just not adding up.  Not sure what I'm missing here.