Blitz is worth 1/6 of Stratis according to a deal made between Stratis founder Chris Trew and Blitz whales, one day this will be tested in court.
this is the document where the 1/6 number comes from
https://docs.google.com/document/d/1nmtoFYZJb0WBHYFiKyCpfpE4NGnMv21Q4dZ6oyQ2W4A/edit#We will soon be announcing our next project. A Blockchain-as-a-service cloud platform, that will provide simple one click provisioning of btc, eth, nxt, bts etc blockchain nodes like the other baas providers. The new platform will offer private chains for developers and businesses to develop and test applications on their own private blockchain with customized specifications. These private chains will be pegged to the platforms parent blockchain and will utilized merged POS mining with elected nodes mining blocks for the private chains. This will remove the requirement for mining, seed nodes etc, while allowing customers of the platform to scale up or scale out. The aim is to significantly reduce the time required for developers and businesses to develop, test and deploy Blockchain solutions.
This BAAS Solution will have its own Blockchain, the private blockchains will be side chains off the parent blockchain with a 2 way peg in place.
To raise funds for the development and marketing, and to allow killakem to work full time on the project, we will have an IPO. This presents us with 2 options for Blitz holders:
Option A:
The new blockchain would have 24 million coins. The existing 4 million Blitzcoin would be exchanged for the IPO token. Then the other 20 million coins would be sold during the IPO. All of the funds raised would go into the development of this new parent blockchain, platform development and marketing. This platform will require elected nodes to secure the side chains, Blitz execs will have the first choice for operating one of these nodes, if option a is selected.
Please note these are example figures and this new blockchain is likely to have a higher coin supply.
Option B:
We keep Blitzcoin as is. We make the new blockchain its own Bitalize project that pays a % to Blitz Rewards. This would mean the BAAS platform is isolated from Blitz. The new platform and blockchain will be developed in an open source manner. so some of the development could flow back into the Blitz Blockchain.
The guy who posted the google doc above was the then dev of Blitz (Chris Trew), he was planning Stratis, he suggested two options and asked some blitz whales to vote in a slack channel restricted to people with +30K Blitz.
Option A was a coin swap at rate 1/6
Option B was a % paid to blitz
Blitz whales voted for Option B, and the % has not been paid to date. We can assume from option A that Chris wanted Blitz holders to get 1/6 of the new project Stratis, either as a coin swap or a % of revenue/profits.
It's just a matter of time before the values of this deal make someone pull the trigger on a legal case against Chris Trew and Stratis.
