Topic: [ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex - page 232. (Read 491330 times)

Will follow! In the meantime, join the signature campaign, description in second post!

Looks interersting, looking forward to ICO and more information about bounty.

For a couple of reasons we're extending the crowdfund to the end of November. This is just a placeholder while we update graphics. This shouldn't materially change anything but enables us to get some ducks lined up while ICO is still ongoing. We'll still start on 1 October, and the tiering of bonuses for early investors will remain the same.

The project looks really promising let's see what the future holds

All the best to your team

Thanks for information, incest is interesting

Promote Incent and get rewarded!

Join our Signature Campaign

You're the only one who always has naughty thoughts in here.

Since this has come up a couple of times and is likely to be a cause of further misunderstandings, I'll paste this article here.
http://bitscan.com/articles/incent-reserve-explainer

Incent reserve: explainer


From the moment the first merchant goes live with Incent, liquidity and maintenance of an orderly market is imperative if the project is to function commercially. As part of our mandate to support market integrity through market-making and to enable merchants to issue and redeem Incent in good order, BitScan will be maintaining a Reserve of bitcoin and Incent. Ultimately, the reason for this is very simple:

Fiat payments from merchants are subject to a lag, whilst cryptocurrency payments need to be settled instantly at the point-of sale.


The Reserve will allow us to 'arbitrage' funds at the point of purchase, sending customers their Incent immediately

Thus BitScan must have the capacity to remit funds immediately to the customer and merchant to avoid the unacceptable delays that would otherwise be involved.

On issuance: When a customer makes a purchase with a credit card and the merchant’s PoS instructs BitScan to send Incent to their account, this needs to happen immediately for the commercial impact of the reward to be maximised; whereas the fiat settlement funds, sent by the merchant after the fact to pay for the Incent issued, take 2-4 days to process. BitScan therefore needs a reserve of Incent to send to the customer as soon as the instruction is received. BitScan also needs a reserve of BTC which is deployed in response to new Incent issuance, to buy the corresponding amount of Incent at market rates. This has the impact of driving demand and rebalancing circulation of Incent. Finally, when cash funds are received to BitScan’s bank they are converted to replenish the Reserve with BTC - and the cycle repeats.

On redemption: When a customer pays a merchant with Incent, BitScan processes both order and transaction, settling with the merchant in cash and subsequently selling the Incent received at market rates to replenish the Reserve. Of note, any redemption for a product or service attracting a discount for Incent triggers a new issuance cycle which ensures that net demand always trumps net supply.

Maintenance of a reserve is therefore critical, as it enables BitScan to acts as a market-maker and assure liquidity, while promoting enduring appreciation of the asset through maintenance of stable circulation. We recognise that such a model is unusual in the cryptocurrency world, where issuance is typically algorithmic and large pre-mines are viewed with scepticism. However, mining new Incent on a pre-set schedule would take no account of variances in demand for the token following product launch. A pre-set schedule that makes no allowances for market conditions risks placing supply pressure on price, with the resultant price volatility undermining our objective of a stable and liquid digital asset whose value appreciates steadily.

Rather than being a liability for Incent, we therefore consider the presence of a reserve and market-maker essential for Incent to have enduring value to consumers, merchants and anyone holding it as a store of value.

In recognition of and in order to reward the additional trust that this facet of our offering represents, profit deriving from market making operations will be shared 50/50 with the Incent holding community, in the form of a dividend distributed on a pro-rata basis, on the first day of every other (even) month.

Reserve tokens, bitcoin and cash will be held in secure, offline accounts, with only an operating balance of crypto held on-exchange as required to perform this critical market-making function.

You need to read the posts above and the article about what the reserve is for. It's not for the devs, it doesn't dilute anyone's share and without it the project can't work.
The reserve is actually an integral part of the payment mechanism. It doesn't get run down or spent over time.

no matter how many times, i still read it as incest

How can they collect $5 million and still hold 50% of the entire tokens, to me I still don't understand these ICO developers guys, you come to the public for funding and you are holding 50% of the shares of the company that no market  valued presently, this is a threat to the investors in  case things go south. They always want to eat their cake and have it. This issue must be resolved before any rational investor invest into it.

Karl/Rob,

1) Have you or will you consider crowd-sourcing merchant sign-ups in exchange for incent? I imagine in addition to some of the large clients you've engaged, you'll also need 10s of thousands of smaller merchants onboard to be successful; building in a merchant referral mechanism seem to make a lot of sense for your model.

2) In your AMA video you mention retaining compliance lawyers in Sydney. Have they reviewed the copy on your website? It seems that some of the language there would not be compliant (at least in the US); for example "ICO investors stand to do very well as token value appreciates post launch, driven by merchant demand" and "How can you be so sure that Incent will appreciate in value when merchants ‘go live’?". I appreciate your confidence, but I think this needs to be re-worded and balanced with a prominent risk disclosure, to avoid trouble down the road.

You're not understanding what that other 50% is being used for. Its not for development or money for the company or money for the dev. Read the details of it more closely. You'll understand.

Yes, escrow contract is being finalized, will soon be published.

You can find the exact prices during the ICO in the ANN. The prices are fixed, no dilution happens.

I hope Incent Crowdsale using escrow to secure purchased.
BTW price ico is stable/deal 0.0001 BTC or acumulation after ico ended?

She is working for both Stratis and Incent.

ICO will start on 1st of October, stay tuned! Bonuses are explained in the ANN. 

Escrows and escrow conditions will be published soon. We're currently finalizing with the chosen escrowers.

Remember: Only 10% are withheld by the development team for bounties, marketing, partnerships and more. Why the other tokens are held back is explained here in detail: https://bitscan.com/articles/incent-reserve-explainer

Hi there! I'm contributing to both which works out very well due to close connection 

Yes, I'll continuously update the spreadsheet and post it in the 2nd post as soon as I worked on it the first time.

another ICO... but then 50 / 50.. If 50 million tokens sold in ICO then dev will also get 50 million coins + the cap USD 5 million (if ever it reaches).. Dev has too much of the tokens.. A bit greedy in my opinion - but that just me...

looks good, who is the escrow?