The beta release of Gems will support instant messaging, push notifications, new user registration and login, contact directory and display the GEMZs wallet. Release server backend which supports both the cloud instant messaging and counterparty integration.
Holy. Fuck.
So the whole INTERESTING and MOST IMPORTANT aspect of Gemz (the airdrop algorithm, the trust score regulation and threshold levels, and how these will interact with Counterparty to distribute Gemz automatically and correctly across the network) isn't even REQUIRED for the devs to cash 750 BTC? The entire innovation that this whole project needs to operate at the most fundamental level isn't even required at the beginning?
The app they are releasing will be a basic shell messaging app with some fancy Gemz designs and your own wallet that doesn't do anything. THIS is the most trivial part of the whole project and they get 750 BTC!?
Honestly, this would make Koinify lose all of its credibility as a crowdfunding platform. Milestone/Checkpoints are utterly crucial to get right if you are putting this many people at risk. Koinify can't even recognize that a shell app release is about 5% of progress in the grand scheme of things in the Gems app.
Where is the innovation? The innovation is in the airdrop algorithms and trust score management. Milestones should be weighted heavily around THESE portions of the projects, not trivial iPhone app releases that have zero functionality with the innovation at hand.