IND will be given on the peercoin blockchain corresponding to transactions to our bitcoin and peercoin multisig addresses. We will not be giving out which names connect to what addresses.
We are discussing the viability of different funding schemes using PeerAssets. As it stands, the only fundamental fee is the Peercoin transaction fee, which of course also applies to PeerAsset transactions. We have several ways of gaining profit from our product, such as charging when we introduce or remove supply from customers, having network fees, wrapping costs into the basket price itself, and others. These are discussed in the business plan.
I could open up an Indicium board here if you like, but from the plan it sounds like you will be opening up a separate forum for business/customer communications and not using this forum? What are your plans for this in the short-term and long-term?
I was wondering what would happen if in Series A 250K is raised, but then in Series B only 100K is raises. That would mean people in Series B will get IND at a lower cost?
Should the Series B distribution then be flexible, and make it so that the price per IND canāt go lower than the price determined by Series A?
We want to be as frugal as possible, and as such will likely operate off the peercoin forum for the forseeable future.
We have not yet discussed the details of Series B funding. Depending on the market price of IND at the time and our funding needs, we may approach the distribution in different ways. We intend to distribute another 40k IND publicly in a second round of funding once we have a minimum viable product, beyond that we cannot guarentee how that will occur.
Once the board is formed after Series B funding, Iām trying to understand who ultimately controls the DAC. It sounds like shareholders elect the board and the board carries out its duties. If shareholders donāt like the performance of someone on the board they can simply vote to replace them. I just want to make sure of one thing. Will the board be the organization that ultimately decides what shareholders can vote on, or will shareholders be able to vote on anything at any time?
PeerAssets are a signal on the blockchain. The protocol can be used in many ways. We will define the parameters of the organization more precisely at a later time.
Allow me to try and explain. This is not meant to forestall an explanation by @Indicium.
Anonymity protects the founders. I wouldnāt dare investing in that type of DAC if I had to reveal my identity. Itās unclear how governments treat DACs like this now and in the future. Others think the same.
Using ETH in addition? Why not. Using ETH instead of PPC? No way!
You do understand that this DAC is based upon a PeerAssets implementation on the Peercoin blockchain?
Not everyone is based in a crypto-friendly country such as Japan.
The profit model, briefly described in the Business Plan, is fairly standard in the fund industry, not much unlike that of e.g. mutual fund. Index funds such as Indicium Minimal Variance Fund is mostly passive and have an advantage to keep the cost down.
My pseudonym will mean more to you than my real name. When we finished sorting through all the legal stuff, i may readily reveal my identity. But thatās more for my benefit of taking credit for my accomplishments than for yours.
Accepting additional coins would make the initial distribution more complicated. Remember that backpacker is not a founder or an advisor, just a community representative.
Dividends and operational costs will come from any of our several profit sources, for example: fees on inflating/deflating supply of our product.
I am interested in contributing to your team by being your Chief Talent Officer.
Typically, I am your VP of talent sitting on your board of directors in your company to start the team that will build or consolidate a prototype,a product to attract investors or users.
I can find engineers, hackers, investors, potentially anybody.
DM me for more info.
That is certainly interesting. I assume you donāt mind my passing the info to the team.
Indicium requires officers to have āvestedā INDs to align interests.
Hi, We discussed and felt that before Series B at least there is no urgent need for recruiting extra developers given the limited scope of MVP baseline.Thanks for your offer.
You are welcome to become an IND holder.
Best regards
mhps
As can be seen directly on a block explorer, Indicium has received approximately $80k in funding from numerous sources. It is safe to say at this point that unless both Bitcoin and Peercoin undergo a massive devaluing in the next month, Indicium will be developed. Funds raised above the minimum goal will be used to produce a better, more complete product which will promote a higher Series B valuation. We will begin a wait list as pledges approach $150k to avoid exceeding our maximum funding limit.
Itās intriguing ā
But I did not get how it makes money ā
Any projection?
If I invest, I want equity in the revenue so I want to see some slides on the revenues for sure