[ANN][ICO] SOMA - The Social Marketplace - page 71.

sockpuppet1911

sr. member

Activity: 994

Merit: 278

Quote from: FIEX on November 12, 2017, 05:02:56 PM

Quote from: sockpuppet1911 on November 12, 2017, 04:03:21 PM

Quote from: FIEX on November 12, 2017, 03:13:08 PM

News about reserve:

We have decided to keep that until the launch of our MVP and then we will burn it, unless free market cannot provide enough liquidity to support crucial functions of the Soma ecosystem.

So, does this mean that you are going to sell those tokens if the market has enough liquidity? And if you can't sell you'll burn them? Please tell me that i have completely misunderstood this sentence.

It means that that we will burn the directly if crucial features of the Soma ecosystem can be powered with the SCT available on the free markets (such as Soma Rewarding System, which can be only utilized by SCT). If, and only if, there is not enough liquidity provided by the free markets (if nobody is selling SCT for users who would like to utilize some features in the Soma application, we will provide liquidity from the reserve)

Thank you for trying to explain but please can you do that in layman's terms because i have a hard time understanding this. Are you providing a sell wall for people to buy to?

ubercool

hero member

Activity: 1078

Merit: 504

Quote from: the_donald on November 13, 2017, 01:31:49 AM

Quote from: Piggy on November 13, 2017, 01:06:43 AM

Quote from: Yasemin on November 13, 2017, 12:34:53 AM

Only 2 days left till the end of the ICO, until now extending the ICO didnt really do much. Maybe they should burn the half of their tokens.

They are burning the unsold token. I think they will keep 10% for future liquidity if needed

the unsold tokens will be burned. I just hope what they've raised will be enough to develop the product.

I dont think keeping them for liquidity is a good idea. Burning them will definitely result in a showcase of the trust.

the_donald

full member

Activity: 588

Merit: 100

Quote from: Piggy on November 13, 2017, 01:06:43 AM

Quote from: Yasemin on November 13, 2017, 12:34:53 AM

Only 2 days left till the end of the ICO, until now extending the ICO didnt really do much. Maybe they should burn the half of their tokens.

They are burning the unsold token. I think they will keep 10% for future liquidity if needed

the unsold tokens will be burned. I just hope what they've raised will be enough to develop the product.

Piggy

hero member

Activity: 784

Merit: 1416

Quote from: Yasemin on November 13, 2017, 12:34:53 AM

Only 2 days left till the end of the ICO, until now extending the ICO didnt really do much. Maybe they should burn the half of their tokens.

They are burning the unsold token. I think they will keep 10% for future liquidity if needed

martinholly167

sr. member

Activity: 658

Merit: 250

Quote from: Yasemin on November 13, 2017, 12:34:53 AM

Only 2 days left till the end of the ICO, until now extending the ICO didnt really do much. Maybe they should burn the half of their tokens.

Yes of course, the community manager has said that there wont be any extension anymore.

Yasemin

full member

Activity: 224

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Become Part of the Mining Family

Only 2 days left till the end of the ICO, until now extending the ICO didnt really do much. Maybe they should burn the half of their tokens.

Piggy

hero member

Activity: 784

Merit: 1416

Yes, ill just hold the token, the price will definitely go up above ico price once the platform will start to be ready.

Voltaje

sr. member

Activity: 350

Merit: 250

Quote from: toolucky98 on November 12, 2017, 05:54:15 PM

Quote from: greatteager on November 12, 2017, 05:08:59 PM

Burning is good, and on which exchanges does the coin plan to trade? This is an important stage, Utrast has already taken care of exchanges for example.

Maybe we will see some good news about this after the ICO ended

The project is long term, so we should expect gradual updates after ICO, and even a falling below ICO price, because until the platform is online, the token is just speculative, and is all that we will be expecting until the demand exists.

germsite

sr. member

Activity: 1009

Merit: 261

Quote from: ?? on ??

Quote from: levyashin on November 10, 2017, 09:33:09 AM

Quote from: germsite on November 10, 2017, 09:08:28 AM

Quote from: Piggy on November 09, 2017, 03:55:27 AM

Quote from: germsite on November 09, 2017, 03:29:35 AM

Quote from: Sozialtourist on November 02, 2017, 08:31:21 AM

Quote from: germsite on November 02, 2017, 08:22:34 AM

This is still completely confusing. Does anyone have a reliable answer for me in regards to unsold tokens? Will the be burned or offered for sale after the ICO?

Even though we have now a new community manager, I will answer as I understood it, FIEX should correct me if I am wrong:

First of all, unsold tokens will be burned. But if the ICO won't reach the hard cap (which will most likely be the case) they will keep a 10% liquidity reserve out of the unsold token. From this reserve, they will offer SCT on their platform after the ICO.

Ok and that money flows into the development fund or what is the liquidity reserve supposed to be used for?

I think it will go toward the platform development/expansions as the fund they are now collecting, FIEX probably can give a more exhaustive answer.

This is what I hope because they will need a good amount of money to pay themselves and hired developers to finish the whole development. Only burning coins isn't always the most intelligent option.

It's the best for investors. If there is no demand for it, if you still keep them, investors will pay the price.

As per their business plan, every part of the project was allocated with certain funds and unsold tokens should be burned in order to gain investors confidence on the project.

Well then the situation is quite clear and they should stick to the terms all investors agreed upon when they made their investment decision. It might not even be legal for them to change terms unless they somewhere said that everything is subject to change.

martinholly167

sr. member

Activity: 658

Merit: 250

Quote from: magisterr on November 12, 2017, 07:11:48 PM

Quote from: FIEX on November 12, 2017, 05:02:56 PM

Quote from: sockpuppet1911 on November 12, 2017, 04:03:21 PM

Quote from: FIEX on November 12, 2017, 03:13:08 PM

News about reserve:

We have decided to keep that until the launch of our MVP and then we will burn it, unless free market cannot provide enough liquidity to support crucial functions of the Soma ecosystem.

So, does this mean that you are going to sell those tokens if the market has enough liquidity? And if you can't sell you'll burn them? Please tell me that i have completely misunderstood this sentence.

It means that that we will burn the directly if crucial features of the Soma ecosystem can be powered with the SCT available on the free markets (such as Soma Rewarding System, which can be only utilized by SCT). If, and only if, there is not enough liquidity provided by the free markets (if nobody is selling SCT for users who would like to utilize some features in the Soma application, we will provide liquidity from the reserve)

How much tokens they will reserve for this? Only 10% I hope??

Yes 10%, they have stated it

magisterr

sr. member

Activity: 1372

Merit: 259

Quote from: FIEX on November 12, 2017, 05:02:56 PM

Quote from: sockpuppet1911 on November 12, 2017, 04:03:21 PM

Quote from: FIEX on November 12, 2017, 03:13:08 PM

News about reserve:

We have decided to keep that until the launch of our MVP and then we will burn it, unless free market cannot provide enough liquidity to support crucial functions of the Soma ecosystem.

So, does this mean that you are going to sell those tokens if the market has enough liquidity? And if you can't sell you'll burn them? Please tell me that i have completely misunderstood this sentence.

It means that that we will burn the directly if crucial features of the Soma ecosystem can be powered with the SCT available on the free markets (such as Soma Rewarding System, which can be only utilized by SCT). If, and only if, there is not enough liquidity provided by the free markets (if nobody is selling SCT for users who would like to utilize some features in the Soma application, we will provide liquidity from the reserve)

How much tokens they will reserve for this? Only 10% I hope??

Rigorous

full member

Activity: 574

Merit: 115

Quote from: dave111223 on November 12, 2017, 05:42:28 PM

Quote from: Rigorous on November 12, 2017, 05:36:51 PM

Quote from: dave111223 on November 12, 2017, 05:26:06 PM

How is going the token sale ?

Good question. I just looked up one of Soma's deposit addresses. I do not know if there are more.

https://etherscan.io/address/0x63b992e6246d88f07fc35a056d2c365e6d441a3d

Sadly, the contributions are minimal.

Sad, i wanted to participate in but this won't go far with less than 500 ETH :/

At least they got some private investors on board, raising a seed round with a valuation of 1.5 million dollar. Although we have to remember a valuation is not the same as the amount invested.

toolucky98

full member

Activity: 490

Merit: 100

Quote from: greatteager on November 12, 2017, 05:08:59 PM

Burning is good, and on which exchanges does the coin plan to trade? This is an important stage, Utrast has already taken care of exchanges for example.

Maybe we will see some good news about this after the ICO ended

dave111223

legendary

Activity: 1190

Merit: 1001

Quote from: Rigorous on November 12, 2017, 05:36:51 PM

Quote from: dave111223 on November 12, 2017, 05:26:06 PM

How is going the token sale ?

Good question. I just looked up one of Soma's deposit addresses. I do not know if there are more.

https://etherscan.io/address/0x63b992e6246d88f07fc35a056d2c365e6d441a3d

Sadly, the contributions are minimal.

Sad, i wanted to participate in but this won't go far with less than 500 ETH :/

realbowler

newbie

Activity: 9

Merit: 0

https://etherscan.io/tokens?q=soma

Rigorous

full member

Activity: 574

Merit: 115

Quote from: dave111223 on November 12, 2017, 05:26:06 PM

How is going the token sale ?

Good question. I just looked up one of Soma's deposit addresses. I do not know if there are more.

https://etherscan.io/address/0x63b992e6246d88f07fc35a056d2c365e6d441a3d

Sadly, the contributions are minimal.

dave111223

legendary

Activity: 1190

Merit: 1001

How is going the token sale ?

Trrrt

full member

Activity: 448

Merit: 107

I think the liquidity reserve is a good idea from the soma team. It will be use only to provide the liquidity in the market for people who want to use some feature on the soma platform, and never to make the price dump. So it’s a good idea I think.

niklasmato

sr. member

Activity: 616

Merit: 263

Quote from: Rigorous on November 12, 2017, 05:08:38 PM

Quote from: realbowler on November 12, 2017, 05:00:24 PM

Burning extended, Token sale extended. These people love to extend their stuff.
ICO extension was decided and happened without any announcement to the early contributors.

That is why I am looking at the smart contract. Too late, I know. But that is the point of smart contracts, we can observe them and see what can and cannot be changed and what kind of loopholes they allow.

did you find out anything relevant in the code?

greatteager

sr. member

Activity: 420

Merit: 250

Burning is good, and on which exchanges does the coin plan to trade? This is an important stage, Utrast has already taken care of exchanges for example.

Topic: [ANN][ICO] SOMA - The Social Marketplace - page 71. (Read 92822 times)