SteemPower Investments - Planning Governance
Hello to everyone, today i will be mostly talking about the governance of SteemPower Investments. This is something that i have received a comments about and i think it would be important to start and explore how this project should be set up before the tax man comes knocking. Being as i am from the UK (NI) and most tokens holders are not, things are not easy when it comes to regulation and international laws. I am no expert and will not pretend to be, but im a hard worker and ihave no problem putting the hours in required to read, learn and do whats required. I really truly believe that this project will make a ton of money long term so anything should be done properly from the start.
My suggestion
This is just a suggestion based on my very limited knowledge, it can be amended are completely changed. This is more of a feeler idea to get some feedback and see what people think of the idea.
Set up as - An Investment Club
I am going to suggest this because it looks much easier and cheaper than going other routes. An investment club is also going to be naturally more interactive which is perfect for our platform. Investment Clubs are exempt from the provisions of the Financial Services Act of 1986 in the UK and In general, investment clubs are unregulated. In United States, the U.S. Securities and Exchange Commission (SEC) requires any entity with more that $25 million to register under the Investment Advisers Act of 1940. Investment clubs typically set up as legal partnerships without having to incorporate themselves. This requires me to set up a constitutional agreement everyone would have to agree as a legally binding document. In a partnership, the club is not liable to pay taxes, each individual investor is responsible to pay their own taxes as they would any other investment based on the the gains made from the clubs income and gains. This can be set up through HMRC as an informal partnership Investment club with the constitution being the legal partnership. This requires me to send out at the end of each tax year an investment club certificate to each member detailing the amount of SPI tokens owned and any gains are losses made that year.
Onto something brighter and a little more uplifting, setting up as in investment club means we can add other requirements and events. Here are a few off the top of my head.
- Club Meeting's
It could be set up for a monthly/quarterly club meeting to take place on Discord for a Q&A (ekk), updates and brainstorming the next move.
- All off platform investments decided by vote
Being part of an investment club would require me to be the chairman with all investments being decided on by investors by way of vote. This will build lots of interaction which will lead to new bonds being build and as a whole, we have more knowledge and turn that knowledge into cashflow.
- Voting Rights
To be decided, there are to many ways to look at it and i dont wonna throw some super random ball park figures out there. As every investor that owns a SPI token would have to have the right to vote. Voting will most likely be a weighted system were members that own for example 500 SPI's have a heavier vote over someone that owns 5 SPI's as they would have more invested and more at risk.
- Weekly/Monthly updates on all investments
This will be a complete full rundown of every investment that @spinvest holds. All figures will be reported in STEEM as that's what the SPI token is 'pegged' to. Information will include full steemit wallet details, steem-engine wallet and individual off platform investments. Full SPI token token holder list, best performing investments ect
There are many other things that can added and these are just a few as an example. The main point of the post is about setting up as an Investment Club and into a partnership agreement that provides a legally binding contract that can be stored on the blockchain.
Example of HMRC Certificate
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I am confident enough to start talking about taxes as while. I am aware that alot of token holders are not form the UK but this is something i will look into and i will come back to it when i am better prepared.
Now after all that, if you are looking to invest into SteemPower Investments, you can find full details in my introduction post by clicking here.
Buy directly from @spinvest
Each share until 1 million are sold will cost 1 STEEM each.
Buy from Steem-engine
The reason for the 1.02 STEEM price is simply because there is a 1% fee to withdraw the STEEM off the exchange.
(Click on this link to be directly brought to the steem-engine exchange)
Great to see some compliance on the blockchain. Legitimization is good for Steem. Best of luck!
Thanks man
Thank you for the updates. It is good to see you are taking steps to keep the community in the loop and kick the program off on the proper foot.
It is hard to gain trust so the little steps do add up. I think there is wonderful potential for this program and hope others will join in. Over time, it will accelerate...things are always toughest in the beginning.
It is vital to start a "community" around this as soon as we can....all involved starting to interact.
Word will spread over time that way as things start to kick off and the value of the project grows.
I agree, building up some sort of community around this is required. Even without having to go witht he plan above, a community would still be required to make this happen. Im very happy with the response so far, there are a few haters but i have received alot more praise for the idea so i know it'll snowball soon. Steemleo will be my making for sure.
I have almost 3000 STEEM in SteemMonsters cards and im tempted to sell some :)
This project will work, in 4-6 months when @spinvest has more followers, more comments and more interaction the posts will be hitting the trending section. I used tipu for the first week to boost the posts but have decided to not use any voting services from now on, im not even gonna self vote.
I'll look into creating a curation trail post because all these tokens from other platforms will add up and it sorta makes sense for anyone that owns SPI's to upvote @spinvest posts as they would own a cut of that upvote. There are so many ways to pick up pennys through STEEM, it's unreal.
Here's to the start of something amazing my friend, thank you for all your feedback, thoughts and nice words
I'm all in for the legal and legit documents being pushed. It just shows future investors that this is a real thing and not just a "give me your steem for maybe something" kind of thing. Doing the due process to make the outside world "non steemians" know this is a real world application is great.
Keep up the good work UK
Thanks bro,
A few people had been asking me about this subject so before i let the questions build up, i thought i'll write a post explaining what i think it best. Setting up as an investment club in a partnership is perfect. It is legit, each investor is liable to pay their taxes and we can build up lots of interaction from a club which Steemit/steemleo/palnet all over.
It'll take more time but @spinvest will build up some credit with members soon. You know me but 95% of the rest dont. It's hard to remember that sometimes, haha. When i set up CryptoSicko, i was talking to SSG members through it like they knew me but they did not know that CryptoSicko was me. It was strange and the same is happening with this account. lol.
Anyways, i talking piss now. Thanks for anything and your nice comment
Its all good, people will begin to know/associate you with the "team/club leader" position.
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