There was a 11 million coin premine, 1 million of which is classified as team premine that they are withdrawing at their discretion. Currently less than 40K left according to the last blog post.
The question will be now, if they withdraw from the "dao fund" in the same way as the team fund. They were transparent by saying what the first withdraw is going to be spent on bonds as far as I can tell, but there was no DAO making this decision.
So does this last 40k EXP left to pay for final development of a DAO, or do they continue their discretionary spending. Or do they do the normal thing and take on investors to cover development until the DAO is completed.
If I were a miner contributing my resources transparent transparent pay, I would expect the devs to be as well.
Topic: Lets take a look at Expanse (EXP) (Read 1146 times)
premine, whatever you want to call it is mostly on the market already. You have to finance development somehow...
The interest for the bonds is pulled from the 10million reserve. In the future it will be part of the block reward.
The interest for the bonds is pulled from the 10million reserve. In the future it will be part of the block reward.
Expanse is built using the ethereum architecture with a few key differences : removed the canaries (which ethereum later removed), larger block size and smaller supply of 15million. Other than that, expanse is the same technology as ethereum, but magnitudes cheaper with a different community and design structure.
The supply structure is 15million total tokens with only 5 million tokens available on the market and a current Proof of Work algorithm generating 8 coins per mined block. 10 million expanse tokens are held in a community reserve fund which will finance all operations going forward after the DAO is formulated.
Expanse has several proof of concepts being developed, for example http://borderless.tech which you may have seen a test during the election for the polling dapp: http://polls.borderless.tech/#!/dashboard - this test proves that votes can be verified on the blockchain, which will be integrated with the ID system in future developments.
Essentially Expanse tokens function as fuel for the applications on the decentralized cloud computer. For example, each vote on that polling dApp cost 0.00289551712887 EXP where 1000 votes cost less than a dollar.
The DAO is being developed using modular tools such as the voting module, and Identification module. The DAO will be in control of the community reserve fund, allowing it to function as a self funding autonomous network.
The development team did not raise a single penny through ICO's or other crowdsales. The development was financed internally through market growth with an initial development fund of 1million Expanse, which is now less than 100,000 and a majority of those tokens are already on the market.
As of right now, expanse is pending the release of a bond's system which is a simulated staking through smart contracts; for each 100 EXP held in a 'bond' earns 1% interest per month for the length of the bond. They are also testing tindermint's delegated proof of stake. Both of these systems will create an incentive to hold expanse tokens off the exchanges, which will ultimately increase scarcity and value.
Expanse also has its own charity! http://borderlesscharity.org
Additional links/information:
http://expanse.tech
slack invite: http://slack.expanse.tech
newsletters every 1st and 15th of the month: http://blog.expanse.tech (there will be a newsletter coming out today, should be releasing the bonds system)
The supply structure is 15million total tokens with only 5 million tokens available on the market and a current Proof of Work algorithm generating 8 coins per mined block. 10 million expanse tokens are held in a community reserve fund which will finance all operations going forward after the DAO is formulated.
Expanse has several proof of concepts being developed, for example http://borderless.tech which you may have seen a test during the election for the polling dapp: http://polls.borderless.tech/#!/dashboard - this test proves that votes can be verified on the blockchain, which will be integrated with the ID system in future developments.
Essentially Expanse tokens function as fuel for the applications on the decentralized cloud computer. For example, each vote on that polling dApp cost 0.00289551712887 EXP where 1000 votes cost less than a dollar.
The DAO is being developed using modular tools such as the voting module, and Identification module. The DAO will be in control of the community reserve fund, allowing it to function as a self funding autonomous network.
The development team did not raise a single penny through ICO's or other crowdsales. The development was financed internally through market growth with an initial development fund of 1million Expanse, which is now less than 100,000 and a majority of those tokens are already on the market.
As of right now, expanse is pending the release of a bond's system which is a simulated staking through smart contracts; for each 100 EXP held in a 'bond' earns 1% interest per month for the length of the bond. They are also testing tindermint's delegated proof of stake. Both of these systems will create an incentive to hold expanse tokens off the exchanges, which will ultimately increase scarcity and value.
Expanse also has its own charity! http://borderlesscharity.org
Additional links/information:
http://expanse.tech
slack invite: http://slack.expanse.tech
newsletters every 1st and 15th of the month: http://blog.expanse.tech (there will be a newsletter coming out today, should be releasing the bonds system)
No ICO, just an epic premine that gets dumped on investors on a regular basis
Where does the 1% interest per month from the bonds come from??
Expanse is built using the ethereum architecture with a few key differences : removed the canaries (which ethereum later removed), larger block size and smaller supply of 15million. Other than that, expanse is the same technology as ethereum, but magnitudes cheaper with a different community and design structure.
The supply structure is 15million total tokens with only 5 million tokens available on the market and a current Proof of Work algorithm generating 8 coins per mined block. 10 million expanse tokens are held in a community reserve fund which will finance all operations going forward after the DAO is formulated.
Expanse has several proof of concepts being developed, for example http://borderless.tech which you may have seen a test during the election for the polling dapp: http://polls.borderless.tech/#!/dashboard - this test proves that votes can be verified on the blockchain, which will be integrated with the ID system in future developments.
Essentially Expanse tokens function as fuel for the applications on the decentralized cloud computer. For example, each vote on that polling dApp cost 0.00289551712887 EXP where 1000 votes cost less than a dollar.
The DAO is being developed using modular tools such as the voting module, and Identification module. The DAO will be in control of the community reserve fund, allowing it to function as a self funding autonomous network.
The development team did not raise a single penny through ICO's or other crowdsales. The development was financed internally through market growth with an initial development fund of 1million Expanse, which is now less than 100,000 and a majority of those tokens are already on the market.
As of right now, expanse is pending the release of a bond's system which is a simulated staking through smart contracts; for each 100 EXP held in a 'bond' earns 1% interest per month for the length of the bond. They are also testing tindermint's delegated proof of stake. Both of these systems will create an incentive to hold expanse tokens off the exchanges, which will ultimately increase scarcity and value.
Expanse also has its own charity! http://borderlesscharity.org
Additional links/information:
http://expanse.tech
slack invite: http://slack.expanse.tech
newsletters every 1st and 15th of the month: http://blog.expanse.tech (there will be a newsletter coming out today, should be releasing the bonds system)
The supply structure is 15million total tokens with only 5 million tokens available on the market and a current Proof of Work algorithm generating 8 coins per mined block. 10 million expanse tokens are held in a community reserve fund which will finance all operations going forward after the DAO is formulated.
Expanse has several proof of concepts being developed, for example http://borderless.tech which you may have seen a test during the election for the polling dapp: http://polls.borderless.tech/#!/dashboard - this test proves that votes can be verified on the blockchain, which will be integrated with the ID system in future developments.
Essentially Expanse tokens function as fuel for the applications on the decentralized cloud computer. For example, each vote on that polling dApp cost 0.00289551712887 EXP where 1000 votes cost less than a dollar.
The DAO is being developed using modular tools such as the voting module, and Identification module. The DAO will be in control of the community reserve fund, allowing it to function as a self funding autonomous network.
The development team did not raise a single penny through ICO's or other crowdsales. The development was financed internally through market growth with an initial development fund of 1million Expanse, which is now less than 100,000 and a majority of those tokens are already on the market.
As of right now, expanse is pending the release of a bond's system which is a simulated staking through smart contracts; for each 100 EXP held in a 'bond' earns 1% interest per month for the length of the bond. They are also testing tindermint's delegated proof of stake. Both of these systems will create an incentive to hold expanse tokens off the exchanges, which will ultimately increase scarcity and value.
Expanse also has its own charity! http://borderlesscharity.org
Additional links/information:
http://expanse.tech
slack invite: http://slack.expanse.tech
newsletters every 1st and 15th of the month: http://blog.expanse.tech (there will be a newsletter coming out today, should be releasing the bonds system)
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