Hey guys so we have added up stakes and have culled out fake accounts and will begin sending out tokens today. In the interest of not overwhelming the outstanding tokens and because our sale did not sell out to the cap, we have to cut the bounty pool in proportion to the total number of outstanding tokens so we don't overwhelm current token holders.
After much deliberation, it was decided that we will burn all remaining tokens below the cap since PRFT is a hodler token rather than a speculation token where holders can collect rewards from our marketplace (an update on this can be found here: https://www.youtube.com/watch?v=H3Ndf3RbdZk). This means that although the 'number' of tokens received by bounty participants has been cut. The overall 'proportion' of tokens received is the same. In the interest of fairness as well, we have issued the bounty tokens from the company store (Untradable) rather than the public store which means bounty participants actually have MORE of the proportion to a percentage point.
Since the main value proposition of the token is to collect Ethereum payments by way of the token, it would be extremely unfair to purchasers during the sale to issue out the same number or tokens we had committed to initially.
This means that the pool will be cut to 6000 tokens, however, your holding to the total number of tokens will be the same as though we sold all the public sale tokens.
In other words, although the number of tokens you receive is lower, the actual per-unit value of the tokens is assumably higher as you will control a much higher percentage in proportion to the whole.
The math is below
Total tokens sold:
119453
Cap:
1181031
119453 / 1181031 = .10 (AKA 10%)
The pool if the cap was reached: 60,000 PRFT
10% of 60,000 is 6000
60,000/1181031.0 = .05 (The presumed total proportion of bounty tokens if cap was reached)
6,000 / 119453 = .05
6,000/113453 = .052 (The total proportion of bounty tokens adjusted for actual tokens in circulation adjusted to amount removed from Proof's holdings)
Although we know that this is going to frustrate some people, keep in mind that despite the lower 'number' you actually control MORE of the holdings by about .2 % which will avail you to a large percentage of the marketplace activity outlined in the Proof Whitepaper. We came to this compromise after many discussions with our advisors, team, and token holders and if you have any issues, don't hesitate to contact myself or qiwoman2 and we can work out an arrangement based on your level of participation. We have some excellent partnerships that will be announced soon that will bring tremendous amounts of liquidity to our market when it opens Q1 next year that will immediately allow you to begin collecting rewards AS WELL as holding the value of the token itself. Thank you for your participation and we are working diligently to make sure everyone gets their fair due.
Fair enough but you mentioned the tokens were from the 'untradable company store',does that mean that our tokens can not be traded?And like everyone is asking can we see the spreadsheet with updated amounts due each person? After much deliberation, it was decided that we will burn all remaining tokens below the cap since PRFT is a hodler token rather than a speculation token where holders can collect rewards from our marketplace (an update on this can be found here: https://www.youtube.com/watch?v=H3Ndf3RbdZk). This means that although the 'number' of tokens received by bounty participants has been cut. The overall 'proportion' of tokens received is the same. In the interest of fairness as well, we have issued the bounty tokens from the company store (Untradable) rather than the public store which means bounty participants actually have MORE of the proportion to a percentage point.
Since the main value proposition of the token is to collect Ethereum payments by way of the token, it would be extremely unfair to purchasers during the sale to issue out the same number or tokens we had committed to initially.
This means that the pool will be cut to 6000 tokens, however, your holding to the total number of tokens will be the same as though we sold all the public sale tokens.
In other words, although the number of tokens you receive is lower, the actual per-unit value of the tokens is assumably higher as you will control a much higher percentage in proportion to the whole.
The math is below
Total tokens sold:
119453
Cap:
1181031
119453 / 1181031 = .10 (AKA 10%)
The pool if the cap was reached: 60,000 PRFT
10% of 60,000 is 6000
60,000/1181031.0 = .05 (The presumed total proportion of bounty tokens if cap was reached)
6,000 / 119453 = .05
6,000/113453 = .052 (The total proportion of bounty tokens adjusted for actual tokens in circulation adjusted to amount removed from Proof's holdings)
Although we know that this is going to frustrate some people, keep in mind that despite the lower 'number' you actually control MORE of the holdings by about .2 % which will avail you to a large percentage of the marketplace activity outlined in the Proof Whitepaper. We came to this compromise after many discussions with our advisors, team, and token holders and if you have any issues, don't hesitate to contact myself or qiwoman2 and we can work out an arrangement based on your level of participation. We have some excellent partnerships that will be announced soon that will bring tremendous amounts of liquidity to our market when it opens Q1 next year that will immediately allow you to begin collecting rewards AS WELL as holding the value of the token itself. Thank you for your participation and we are working diligently to make sure everyone gets their fair due.
I will also sort out any errors, additions for the few of you that sent me info. I will do that tonight.