DDing is Due Diligence, which any wise shopper will do before making a purchase.
As stated previously, the 120% bonus reflects the fact that we believe Lisk to be undervalued right now, so we want to accumulate a significant stake for very long term holding. This is very much in line with the twice market value of XCR 2 weeks prior to Lisk ANN offered for Lisk when it they had their sale. As with Crypti, the premium on Lisk reflects the additional value which has been created by the very hard work on code improvements which has gone into it. Valuation can be a subjective evaluation, so, obviously, not everyone is going to agree with it. That is up to each individual to decide when exchanging Lisk for Ark, along with what portion of their holdings.
Looks more like Vega & bitseedmike are doing the communications to the community in a more professional & objective way. Lol.
So will you just hold the LISK you collect as long term investment? Is there any budget on what projects you will fund and how much will be spent? For example with 2000 BTC equivalent (all BTC + LISK + alt coins), which is minimum amount to consider the ICO a success and not refund, what projects can you fund with it?
Also since the team is fairly large, will each get a salary from the collected ICO funds or each one one will get it from the 15% (of 125 million) ARK tokens set aside for the Founder's team?
And will you consider the funds you collect as "donations" or as "investments"?
I can chime in on this. All lisk collected will be held long term. As for budgets, that is an internal number currently as we are working out final numbers. Minimum TEC required amount is 2000BTC total. The team is very large and will receive the 15%. As for salaries, core devs and strategic members will receive a salary. These numbers fall upon the budget and are still being discussed, but at 2000BTC total we are quite confident this project will have enough funding for years to come. Also, investments and donations seem like the same thing when you break them down don't they?
We are basing the budgets based on the amount raised, with additional stretch goals for additional amounts raised beyond the 2000 BTC baseline. The BTC is for expenses, core development work, the payment cards, and other items requiring cash outlays. The bulk of the team compensation is from the Ark retained by the team.
The funds are neither donations or investments. They are receipts in exchange for usage tokens for the Ark platform.
Thanks for the response. Will you provide a more detailed budget for the projects, which ones get the most of funds, once final ICO funds are known?
Yes, we wish to be transparent, and present a definite roadmap with more detail, milestones, and budget based on the actual funding received. The funding level determines the number of stretch goals which can be achieved beyond the core platform and cards
Also, investments and donations seem like the same thing when you break them down don't they?
To me they are different. With "donations" - once you gave them, you can forget about it. Whoever it was given can just say "thank you for your generosity" - if they are nice. Donors might not even know where they'll be spent. If donors will ask for accountability, one of your team members can just say "fuck off, we did not force anyone to give us money".
But with "investments" - at least the investors will expect some proper roadmap, budgetting and accountability of expenses, etc. It's done professionally. And most importantly in the long run expect "profits".
True, they are not "donations" since a use token for a platform meeting the specifications in the white paper is being exchanged for the tokens which are received.
They are also not "investments" in that we are only providing a use token as described above. While we do plan to provide a "proper roadmap, budgeting and accountability of expenses" as an open source project with a philosophy of transparency, we are not making any claims or representation that the token will increase in value. The delegates securing the network and processing transactions are reimbursed with additional inflationary tokens, but there is no guarantee of any market value for the tokens outside of the Ark network.
This is an important point to understand, as it is the differentiation between the fiduciary responsibility assumed by a project to earn the best possible return for its investors making an investment and the obligation of a project to deliver the product paid for by its customers. While we will do our best to make the best possible product for our customers, we are not assuming the fiduciary resposibility to maintain value and earn a return for investors. If anyone has a question or needs more clarification on this very important point, please do not hesitate to ask about it here.
Yes, mike explains this very well here. donations are just that, donations. and investments are expecting an ROI. what i meant was the similarity between donation and investment, being that with an investment there is always a risk that it doesnt turn ROI, therefor making it similar to a donation. But i digress from mikes point, you will be exchanging for a use token, which there is no guarantee of any market value for the tokens outside of the Ark network. We have a plan and a roadmap in place, as soon as numbers can be finalized everyone will know them. We will remain transparent.
Good to see some proper & professional explanation. It makes it clearer now. As long as you guys have a good plan to deliver something useable & working, then "investors/ participants in the token exchange" can be sure their BTC entrusted in you will not be wasted & will gain confidence to join this.
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starting in less than 24h
