Topic: [ANN] Woncoin – Powered by TheDAFT - page 3. (Read 5616 times)

Dont forget the generalDAO on the side! 

Can I make WONTON's with this?

You cant be serious are you?

ICO ?

2 for 1 sale - Buy one, get Won free

As mentioned in The Woncoin Win Paper, Woncoins are distributed to whomever hodls TheDAFT after each batch is sold:

• The above shows us that after every batch (100000) of TheDAFT that is purchased and put into circulation there will be a distribution of Woncoin.

• Woncoin distributions to TheDAFT hodlers double in quantity after each batch is sold.

You decide the price

Investors will dictate the price of the ICO unlike any other crowdsale. The first batch of TheDAFT is sold at a rate of 0.001 BTC. After the first batch is sold, TheDAFT hodlers will receive “vote-tokens” to determine whether the price of the upcoming batch should double.


Voting with a twist – Save it for a rainy day

Vote-tokens will be distributed after each batch is sold. The amount sent from TheDAFT address will equal the amount of TheDAFT in circulation. The price voting process is unique since you can use them later if unspent.

I.e. if you feel strongly that the price should double after the third batch and not before, you can save your vote-tokens to be used then. Interestingly this creates more vote-tokens in total than TheDAFT because of the unique process in which vote-tokens are created and spent.

* When the first batch is sold:

• Two different vote-tokens
  will be created. One will represent doubling the price, the other will represent keeping the price. Both of these will be distributed to TheDAFT at a 1:1 ratio.

• To cast their vote, TheDAFT hodlers can simply return the vote-token to the originating address. The token with the highest return rate wins the vote.
  

• E.g. if 50000 tokens for doubling the price and 20000 tokens for keeping the
  price is returned, the price for the second batch of TheDAFT will double from
  0.001 BTC to 0.002 BTC.

* When the second batch is sold:

• More voting tokens will be created in accordance to the total number of TheDAFT in circulation and how many voting tokens had been returned. Using the example above of 50000 (double) and 20000 (keep) tokens that had been returned, there’ll be created an additional of 150000 and 180000 tokens respectfully. These will be distributed same as before, 1:1 to TheDAFT in circulation. Now there are 250000 (double) and 280000 (keep) tokens total in circulation. Giving the losing side of the vote a slight advantage in terms of number of available votes for the next round. This opens up strategic input and more speculation to scope in on Woncoin/TheDAFT price. Most importantly it distinguishes Woncoin from all other crowdfundings. In fact the contrast is stunning! Crowdsales usually work in a manner where early buyers receive more coins, creating a scheme many disagree with. Woncoin's ICO could possibly result in the opposite depending on the way people vote upon the route it takes, keeping it attractive for early and late adopters. All of this while giving traders, speculators and investors something to run amok and have fun with.

More than the average coin – The marketing and research token

Facebook, YouTube, Instagram and the likes have become in many ways their own ecosystem on the net. A popular page, channel or account on any of these platforms is often valuable. It attracts those in the business of marketing, advertisers and anybody that wants to sell you some crap. From product placement to sponsored reviews, having a single user that can influence millions of followers in almost an instant is an attractive proposition.

That's why TheDAFT and Woncoin uses the bitcoin blockchain. They exist purely on the bitcoin blockchain through the Counterparty protocol. As with the above mentioned platforms, bitcoin and its blockchain is similarly its own ecosystem. Having something popular within this system/network could potentially be valuable in the same way. A token and coin that has a large number of people participating unequivocally on such a system would likely be equally interesting to many.


Partnerships

Any business or institution can create a token that can represent anything. Since TheDAFT sale which essentially is the ICO for Woncoin sets a precedence, a business may welcome distributing their token to either of them. Their token can for example act as a coupon for a product, entertainment or even OBR (Opinion Based Research). Sending them instantaneously for almost no cost can be a great way for them to reach a broad spectre of people. It can kickoff newly created businesses or even new coin/token projects.

One can't compare sending a token to a Facebook “like”, especially when it comes to things like OBR, polling and measuring popularity. Mainly due to the fact that there isn't any sacrifice or risk involved with these traditional platforms. “Likes”, “followers”, “upvotes”, etc are merely empty clicks and taps anyone can do. In contrast, sending a token has a cost, a miner fee. Add the initial cost of having TheDAFT/Woncoin in circulation you get something which is more than the average click or tap.

TheDAFT would of course like to have partnerships with high profile companies within multiple different industries. The likelihood of this happening early on is slim. It's highly unlikely to get CocaCola or Apple to create tokens of some sort which they can distribute to Woncoin hodlers at this stage. Therefore TheDAFT will be looking to smaller projects and other niche markets. This may include new token/coin projects on Counterparty, artists, sporting establishments, restaurants, independent pornographers and many more.


You decided the price, you create the value

Value and price are two separate things. The value proposition of Woncoin is based around the usage and participation of the things mentioned above.






Money & currency

History has shown that world changing great ideas and concepts take years, more than 30 years to be accepted by the broader public. From Darwin's evolution theory to equal/gender/gay rights to cannabis legislation, they have all been met with resistance in the face of scientific facts and common sense. What seems silly to be opposed of today was at one point conventional wisdom. Even the potato had a hard time being accepted. In England, it was considered so poisonous or unhealthy that it was condemned by the Society for the Prevention of Unwholesome Diets (or S.P.U.D.). In comparison we're only closing in on 10 years for bitcoin.

Relevant link: https://hbr.org/2012/11/whydogreatideastakesolon

Woncoin becoming money and currency will take time because money is complicated. It's however weirdly and entirely possible because the only ingredient needed is belief.

Relevant video: https://www.youtube.com/watch?v=pfXlA_zTfxY&feature=youtu.be&t=4m56s


The #1 coin – Why so daft?