Most are answered in the Business Plan in the OP. In my proposal besides the FEI we also need accounting, trader (prototype and libs exist), basket oracle (algo core implemented and tested), and a housekeeper/coordinator/controller on the technical side. Also the skeleton multisig reserve has passed initial tests.
The announcement has now been posted on r/cryptocurrency. I'll update my post above as well...
Question on Reddit here...
If somebody responds here I can repost the answer.
Edit: Nagalim responded, so I'll copy the answer here...
Very happy to see this going forward!
I have some questions.Can I increase a bid/place additional bids or is a bid final?Must I place a bid in PPC or BTC or can I bid x USD in PPC or BTC?As the funding limits are in USD, I'd prefer placing an USD bid.
You cannot place a bid in USD as we are actively receiving funds in only PPC and BTC. The exact limits in PPC+BTC will be determined after closing on May 24th; we will develop a 'waiting list' if we approach the funding limit before then. We will accept multiple bids from the same participant, but we reserve the right to reject a bid at any time. We understand that you would like to be as liquid as possible with your funds, but please be aware that it may take time before IND is available for sale on-exchange, and that this investment should be taken as an opportunity to be involved with the project.
How could I receive the IND tokens? Would a peercoin address be able to receive IND?
Yes, Indicium would be a PeerAsset, as described in the white paper:
When will you start series B if you have successfully completed series A?
The details of series B will be released when we are closer to achieving a minimum viable product.
Who is on the board of managers? (I assume this is who decides what is being voted on) Are large stakeholders going to be brought on to the board if they want to be - for example... anyone with a 5% stake automatically gets on the board if they want to be?
The board will not be formed until after series B distribution, and any votes will most likely be similarly detained. In the initial phases, the founders and advisors will be acting in the governance capacity.
Is there a place that we could check how much fund has been raised so far?
And what happen if the max of fund reached way before the closing date？Would the currency conversion prices still be chosen at 23:59 UTC on Sun, 24.05.17?
Conversion prices will still be chosen on May 24th. We will form a waitlist before we hit maximum funding.
You can see balance in the multisig addresses.
Multisig addresses are not fully representative of current pledges or accepted bids. It may give you some idea of funds raised, but we reserve the right to send funds back at any time.
Why does pA3NKquAb6c2wPvUGfrJYmP2mZDM7sGmFj start with a lowercase p iso P? please correct it asap
P2SH multisignature Peercoin addresses start with lowercase p, P2SH multisignature Bitcoin addresses start with 3.
I put in a bid for two reasons:
1) I think an index fund to invest in all digital assets is a great idea (would certainly benefit passive investors like me); and2) I think it's important we support any developers using PPC, peerassets, etc. as their platform - we need more of these folks.
Great initiative. I like the funding model and like that it's being done with reasonable targets. A couple questions I have are how will the investments be visible or audited? Will the crypto addresses be made public? Also I feel some guidelines on the fees should be communicated.