Topic: {IPO} Teehe - DAO sports book and casino (Read 3620 times)
Investors have been refunded in full. Thank you all.
The managers of Teehe declare that this IPO is now terminated.
As stated in Prospectus document, IPO will be terminated before April 1st, 24:00 UTC.
IPO has failed as minimum of $90,000 was not pledged by investors.
We will start payback procedures within 12 hours, depending on manpower available and we expect to finish it within next 48 hours.
We have received a decent number of requests today as last minute request to participate, and they have all been declined. We are sorry if we did not answer to everyone with explanation and we consider this post a proper explanation for our declining.
Some statistics:
Total pledged and deposited funds stand at just under $60,000; also $3,000 authorized but not delivered and $4,800 offered but declined by the managers in last 48 hours.
Great majority of funds have been deposited in form of Bitcoin.
Bitcoin also experienced great loss of value during this period, sliding down from $290 to low of $236 endangering value of pledged funds.
Just under 30 persons have participated in this crowd funding.
Total number of inquires was not much larger, at about 45.
About 190 messages was exchanged with investors in private.
This forum has 134 comments and is second most viewed post on this forum of all time.
Even though we promised total anonymity, about 40% of applicants either used standard alias or provided more than enough information to deduct their identity.
Some applicants presented their real name.
It is guaranteed by the managers that no information will be leaked and all evidence will be destroyed after payback is complete.
We thank you all for supporting us and asking right questions. Thanks to those who doubted us for keeping the balance.
As stated in Prospectus document, IPO will be terminated before April 1st, 24:00 UTC.
IPO has failed as minimum of $90,000 was not pledged by investors.
We will start payback procedures within 12 hours, depending on manpower available and we expect to finish it within next 48 hours.
We have received a decent number of requests today as last minute request to participate, and they have all been declined. We are sorry if we did not answer to everyone with explanation and we consider this post a proper explanation for our declining.
Some statistics:
Total pledged and deposited funds stand at just under $60,000; also $3,000 authorized but not delivered and $4,800 offered but declined by the managers in last 48 hours.
Great majority of funds have been deposited in form of Bitcoin.
Bitcoin also experienced great loss of value during this period, sliding down from $290 to low of $236 endangering value of pledged funds.
Just under 30 persons have participated in this crowd funding.
Total number of inquires was not much larger, at about 45.
About 190 messages was exchanged with investors in private.
This forum has 134 comments and is second most viewed post on this forum of all time.
Even though we promised total anonymity, about 40% of applicants either used standard alias or provided more than enough information to deduct their identity.
Some applicants presented their real name.
It is guaranteed by the managers that no information will be leaked and all evidence will be destroyed after payback is complete.
We thank you all for supporting us and asking right questions. Thanks to those who doubted us for keeping the balance.
Quote
We aim to provide a secure, user-friendly platform using a nonvolatile digital currency
Can you explain this a bit more?
As I don't understand the meaning of "nonvolatile digital currency".
Thanks.
I'm guessing all BTC is getting refunded than?
All you need to know about Teehe is in this thread with links to everything of importance
Only 4 days left to invest!
Only 4 days left to invest!
Really good to see constant development of this project, great implementation use of Peershares and yes Peerchemist being behind this project raised my interest as he is trusted community member and producing excellent work on Peerbox.
Congratulation on the funding will aid the development even further, keep up the excellent work
Fuzzybear
Congratulation on the funding will aid the development even further, keep up the excellent work
Fuzzybear
Completion of second week:
We are proud to announce that contributed funds stand at $44,149.
Crypto portfolio: 19,792 PPC 17,501 NBT and 73 BTC
The 10% bonus will only be applied to investors who participate before the $60,000 milestone is reached.
We are glad to see funds doubling every week, Teehe is growing stronger as more people recognize our project.
Regards, Teehe management
We are proud to announce that contributed funds stand at $44,149.
Crypto portfolio: 19,792 PPC 17,501 NBT and 73 BTC
The 10% bonus will only be applied to investors who participate before the $60,000 milestone is reached.
We are glad to see funds doubling every week, Teehe is growing stronger as more people recognize our project.
Regards, Teehe management
Timeline of Seed Funding:
March 11: Teehe launches IPO, most active thread here @ https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734
March 14: FAQ section created http://teehe.net/pdf/teehe-faq.pdf
March 15: Acquired new team member https://bitcointalksearch.org/topic/m.10780059
March 19: Contributed funds stand at over $22,000 with 11,042.30 PPC, 1500 NBT, and 62.99 BTC
March 20: Professional artist joins https://www.peercointalk.org/index.php?topic=3999.msg38484#msg38484
March 22: Prospectus document translated to Mandarin http://teehe.net/pdf/teehe-prospectus-CN.pdf
March 11: Teehe launches IPO, most active thread here @ https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734
March 14: FAQ section created http://teehe.net/pdf/teehe-faq.pdf
March 15: Acquired new team member https://bitcointalksearch.org/topic/m.10780059
March 19: Contributed funds stand at over $22,000 with 11,042.30 PPC, 1500 NBT, and 62.99 BTC
March 20: Professional artist joins https://www.peercointalk.org/index.php?topic=3999.msg38484#msg38484
March 22: Prospectus document translated to Mandarin http://teehe.net/pdf/teehe-prospectus-CN.pdf
Terminology of IPO discussion:
@Teehe is my take on your offering1 (regarding the question of "IPOing" before a product has been released) a fair assessment in your team's opinion?
I see Teehe's fundraising as similar to—but not exactly like[1]—an angel or Series A round, rather than a traditional IPO. The primary difference from a traditional venture in this case would that rather than seek that funding from an isolated set of VCs, they've solicited interest from the larger cryptocurrency community.
An "IPO" usually is offered after a product has been released and a proper evaluation of its fundamentals can be made.
--
[1] That they are using Peershares to generate the DAO's shares mean that they are offering a different type of equity than a "typical" convertable note to exchange preferred to common stock in the future.
Response:
@Ben yes this is a fair assessment.
In this regard, we discussed labeling our venture as an IPO, Series Seed Funding, and Crowdfunding. IPO was chosen as it is more familiar to the laymen rather than the financial lingo of Series Seed Funding. IPO may not be the best description of the venture, but it is more simplistic.
The most accurate description of the Teehe plan is as follows. The first round of funding is not an “IPO” but rather a Series Seed Funding. This will allow the platform to be developed upon which a Series A Funding will occur. Shares are reserved for a Series B Funding to allow for expansion and scalability.
Source: https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734/74?u=teehe
@Teehe is my take on your offering1 (regarding the question of "IPOing" before a product has been released) a fair assessment in your team's opinion?
I see Teehe's fundraising as similar to—but not exactly like[1]—an angel or Series A round, rather than a traditional IPO. The primary difference from a traditional venture in this case would that rather than seek that funding from an isolated set of VCs, they've solicited interest from the larger cryptocurrency community.
An "IPO" usually is offered after a product has been released and a proper evaluation of its fundamentals can be made.
--
[1] That they are using Peershares to generate the DAO's shares mean that they are offering a different type of equity than a "typical" convertable note to exchange preferred to common stock in the future.
Response:
@Ben yes this is a fair assessment.
In this regard, we discussed labeling our venture as an IPO, Series Seed Funding, and Crowdfunding. IPO was chosen as it is more familiar to the laymen rather than the financial lingo of Series Seed Funding. IPO may not be the best description of the venture, but it is more simplistic.
The most accurate description of the Teehe plan is as follows. The first round of funding is not an “IPO” but rather a Series Seed Funding. This will allow the platform to be developed upon which a Series A Funding will occur. Shares are reserved for a Series B Funding to allow for expansion and scalability.
Source: https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734/74?u=teehe
Long way to go to hit the minimum.
Completion of the first week of the IPO:
Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC
Amount contributed at time of contribution $22,518
At current market prices approximately $22,150
Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC
Amount contributed at time of contribution $22,518
At current market prices approximately $22,150
FAQ section added at http://teehe.net/
Sooner or later someone has to create a decentralized autonomous (anonymous) organization such as Teehe. It's just a matter of time and here we have a perfect opportunity to be the first ones to enter the competition. I personally advocate gambling that can be cryptographically proven to be fair and Teehe seems like a good platform to represent this ideology.
Announcement:
@Hyena has joined Teehe team.
Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.
He has master's degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.
We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.
@Hyena has joined Teehe team.
Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.
He has master's degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.
We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.
As a gambler I have been waiting for something like this
Looks promising
Looks promising
Just in case people are unaware, this project was created by Peerchemist (the creator of Peerbox) along with help from one other unnamed community member. This is an important fact for potential investors to know because Peerchemist has a solid reputation in the Peercoin community, which lends immediate credibility to this project. Also, judging from his work on Peerbox, you can be sure that security in Teehe will be a high priority.
https://www.peercointalk.org/index.php?topic=3999.msg38285#msg38285
https://www.peercointalk.org/index.php?topic=3999.msg38285#msg38285
very interesting development! will watch this closely
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