Topic: Call for Discussion on Upcoming Token Sale - Rewarding Tokens for Ideas (Read 790 times)

Thread about the Winning suggestion:

https://www.reddit.com/r/ETHLend/comments/6xfu1h/winner_of_july_brainstorming_competition/

 

It looks like you don't have any blockchain programmers on your team. While you do have one developer, I suggest you get someone who is deep into blockchain - if not signed on as a programmer, then at least on the advisory board.

Depends what you mean. In general, I only want an "ambassador" who will represent me accurately - which means sitting down for extended detailed discussions about the project. Otherwise it's either a. wrong information or b. running back to you to ask questions every two minutes.

1. We do have our team on our site: http://about.ethlend.io/about-ethlend/ , what we are thinking to add is Bios as well. Personally I like to known in more details about the team behind. For example how they got involed in the project, backgrounds etc. Cryptonomos is a good example.

2. True, I noticed as well that it is quite divided for example Basic Attention Token did not have either. I think it depends on the dapp/project. For use I might make lot of sense since we need to explain that ERC-20 tokens or ens domain are used for collateral and the economy behind it. Also there is huge learning curve in my mind on all dapps due to the nature of smart contracts. So it would not hurt to do a explainer video.

3. I agree 100% on the bug bounty. For example for me, as a developer, I would not be interested in searching for bugs for a reward. I would do that free, just for the reason to be able to check and run the code on my local environment and maybe use some innovation on my own project. However, on the pr bounty we definitely will launch it. Mostly because it gets more people are involved and we get more feedback. I think the feedback is the most what you can get from the community.

One question, how do you all feel about local ambassadors?

Hi All,

We extended the bounty on Token Sale discussion/brainstorming until the end of this month since we want to collaborate and get feedback from some suggestions that were made. There has been few interesting suggestions on our Slack (https://join.slack.com/t/ethlend/shared_invite/MjAzMTM0MzEyNzA3LTE0OTg0MDk0NDItOGY0MTlkMTlmZA)

I think one of the coolest thing was actually not related to ICO, but rather to our dapp. Since we were thinking of introducing unsecured lending on ETHLend (no need to use ERC-20 tokens or ENS domain names as a collateral for the loan). We got a recommendation to use Prediction Market to predict whether the borrower pays or defaults. Practically the predictors would review the Ethereum address data and past performance data on ETHLend and the place a prediction on their findings. The prediction could be a tool for the lender to make a decision whether to fund the loan or not. Loan repayment prediction can be also a interesting prediction market. Any thoughts on this? What bumps can you see in using a prediction market on predicting the outcome of a decentralized loan transaction?

1. I see your team info hidden in the white paper, but it's nice to see the team displayed prominently on the website, like this: https://cryptonomos.com/wtt/our-team

2. I like understanding what's going on, and I like to get a feel for the project and the team.
I think it's actually split - many ICOs do have explainer videos, like https://www.tezos.com/ ($230 million), https://eos.io/ ($185 million), https://www.bancor.network/ (raised $153 million) https://mysterium.network/ ($14 million), https://gnosis.pm/ ($12 million), https://mona.co/ ($25 million).
Though to be fair, other ICOs have done well without a video like https://www.openanx.org/en/ ($18 million without a video), https://www.aeternity.com/ ($24 million), etc.

3. Not bug bounty, but referral/PR bounty. For writing articles, sharing FB and twitter posts, wearing your signature/link on bitcointalk. I don't think you need to do an airdrop/free coins, but offering bounty/rewards can be a great way to get people to spread the word. Like this: https://bitcointalksearch.org/topic/bounty-suretly-1885727

1. I like the email. However, Ethereum Smart Contract provides escrow. What would be the purpose of the escrow? Do you suggest that the escrow is for the ICO period, or for later on funds allocation?
2.
3. I agree, we have some bounty program as ready on going. Before the ICO announcement we will create more bounties. And of course we will announce them here first.
4. Good idea.
5. Do you have a specific reason for Bittrex? Or you suggest in general to work with exchanges?
6. I agree.
7. Sounds reasonable, thanks for recommendation.
8. I agree.

What is your opinion when the token price is under 1 usd, for example 0.05 USD?

Nope, the official discussion on ETHLend is here: https://bitcointalk.org/index.php?topic=2013399.new

However, we have not yet launched a ICO discussion. This thread is a call for contribution. If you have any ideas on our upcoming ICO, would be glad to hear. This is an opportunity to really affect on the way blockchain startups are doing ICOs.

1. I agree, this is a must. ETHLend has all team members at about.ethlend.io

2. This is actually good idea, however not that used within blockchain startups. For example I do not even understand all of the ICOs. I think people make things sound complicated and that should not be the way.

3. I agree, can you elaborate. Do you mean bug bounty or some other kind of bounty and do you have a suggestion for new bounty programs. Bug bounty is so boring and actually lot of people are interested in fixing bugs in GitHub anyways.

 Is this the official thread for your offer?

1.To gain trust use an 'excrow" in the Ico
2. Add the coin in "Bittrex exchange"
3. Run bounty campaign;signature,social media,blog etc
4. Use a  website as dashboard for recording of bounty stakes
5. Start the ICO campaign early(2weeks before ICO date)
6  Funds usage should be clearly stated.
7. Use a reputable bitcointalk Campaign manager like Jamalaezaz and Sylon.
8. Pay bounty participant early.
Thanks

Haha! The ICO price of tokens should be valued around 1 - 2 usd. ;-)

Good luck with your project!

Easy to use coin, professional backers and instead of escrow, low starting price with no more than 1B coin supply, listed on big market, good communication with people during the ICO and at least ... finalize everything before you make an ANN Thread

1. That is true, branding is always good. However, it might not always be that big impact. For example, alibaba.com, works for them 

2. Now we want are trying to message the idea of decentralization/blockchain in our branding. However, including people from over the world might be a good idea. We would want people to see/feel how decentralized lending can help and not just the unbanked, but for example if your banks offers a 8% margin, it has significant impact if you will get the loan from other part of the globe with 4%. Savings on interest rates is a benefit to the family's health, lifestyle etc.

3. Might scare investors, but I think at this point it is important to aim for investors that do more due diligence than merely look at the token amount and token price. However, I do see your point. Since now there has been 1 billion token sale, such as BAT, it might be ok to have billion, the amount factually would not matters since less would just amount to less tokens. Numbers game.

4. Super good idea. This is something that we have thought about for a loooong time. What has stalled us from recruiting FIAT banking guys? Well, first we were thinking what we are developing and how do we want to develop further our project. I mean decentralized lending could change a lot the way even how banks do work on the market these days. I mean with decentralized lending banks could be squeezed from the lending market (of course they will shape to a different form, but anyways). Adding a FIAT banker, even an innovator might draw ETHLend back to the traditional way of banking. For the same reason we have not accepted any VC money to this point (and actually it is quite hard to develop without VC funding). So there is the risk that we would be guided back to the hands of traditional bankers. We would instead have NGO experts on the board to help decentralized lending to be adopted in different parts of the world. We are still of course asking this question, and this is not settled yet

5. Interesting point on the exchanges. This is actually true that there should be decent amount of liquidity for secondary sales. However, there are good "smaller" exchanges such as EtherDelta, and we like their concept since they are fully decentralized, just like us But yeah this is something we have to note carefully, thx!

6. Duly noted, good suggestion. This is actually a problem which is not easy to solve if the sale is done with Smart Contract. But as we have solved lot of issued with decentralized manner, I think we can solve this as well

7. Good suggestion we will pop-up a chat and create pdf and videos no how to buy.

8. Yes, we will support this idea.

9. You mean that the first 200 to 300 should be 2 dollars each?

Thx for the contribution!

1. Prominently list your team members and links to social media confirmation (LinkedIn etc)

2. Explainer video.

3. Bounty program

OK here are my best suggestions.

1. Consider another name. ETHLend has no pizazz. Since you are global, perhaps use that idea.
    WorldLend, GlobalLend OrbitLend, TogetherLend. DigiLoan, PlanetLend. LendAll, TerraLend.

2. Use a map of the world on the Logo.

3. 1 billion tokens seem like too many. Scares investors away. Try 400,000.

4.  Get a professional banker/fiat lending expert on your team as a consultant. Someone perhaps who has bailed out of the old system and into cryptocurrency with a lot of enthusiasm.

5. Do not put your ICO tokens onto a small exchange. Wait until a larger and more popular one accepts you. Don't let the dribbling of first trading be a bummer for the participants. I would rather the ICO closes and is not on an exchange for a few months than have it on a smaller exchange.

6. Somehow make it impossible for a few whales to own too much. Whale manipulation is rampant.

7. Make it easy for people who are not in Cryptos to understand and buy in.  Good customer response right
from the start. Hire people to answer emails, and get a chat area on your website with live help.

8. Offer a small discount on first time loans to people who buy from 100 to 300 tokens.

9. Make the starting price two dollars each. Not high, not low.

Good luck. Hey I need a loan! LOL

Hello Bitcointalk community!

GET ALLOCATED 3000 LEND TOKEN BY GIVING US YOUR BEST SUGGESTIONS TO MAKE OUR ICO THE MOST INTERESTING TO YOU.

ETHLend is a fully decentralized lending platform that runs on the Ethereum network. We are creating a lending market on the blockchain.

ETHLend provides the possibility of lending between people that do not know each other. Our goal is to provide a transparent and global lending market and to erase interest rates differences between countries.

We, here at ETHLend, are working relentlessly towards making our ICO happen. We’re figuring out all the details and updating our whitepaper according to your early and relevant reviews.

ETHLend will issue 1 billion LEND tokens for sale and another 300 million tokens for the development fund. There will be no follow-up sales and no new LEND tokens minted, unsold token will be burnt.

And now, we are reaching out to you! Give us your best suggestions! Anything form token amount, value proposition of LEND or anything else that you wish you could see into our ICO.

Best suggestions will get into our white paper and a reward of 3000 LEND tokens will be won for each chosen suggestions.

The call to contribution will end on 07/14/2017 at 7 am EST / 12 pm GMT!

More info : http://about.ethlend.io/

Our Reddit: https://www.reddit.com/r/ETHLend/

Start lending : http://ethlend.io/main/1

Follow us : https://www.facebook.com/ETHLend/

Telegram: https://t.me/joinchat/FWu2CQ0ZRCeWfey4eP8VhQ