Best way to ICO
I read @protegeaa talk about the right ways and the wrong ways to do an SMT
First the right ways:
- Vesting Terms for Founders
- Incentivize Hodling
- First rewards to Stakers/Hodlers
- Utility before liquidity
Vesting Terms for Founders
We believe everybody is equal in an organization. That everybody who participates should have a fair say over what they own. Our founders SMT as well as the initiatives we’ll be funding will all be powered up upon distribution. Our unsold shares totaling roughly 30% will be powered up, but not voting. They will be distributed to new users.
While 1% for each founder seems like a small amount we believe this platform can only succeed if it is sufficiently distributed. We’re hoping no individual owns any appreciable amount of our tokens.
Incentivize Hodling
As @protegeaa mentions SMTs are the perfect vehicle to incentivize hodling. As we can power up our tokens and use them to reward content and grow our collective impact on society.
First rewards to Stakers/Hodlers
Our token distribution model will reward the earliest participants in each round while encouraging further donation. The donations held should be enough to cover needs based solely on upvote. Ideally building dlux in to a global resilient free resource will cost nothing but attention, in the form of this trust. We’ve built the ecosystem to grow organically.
Utility before liquidity
Our platform is live now. You already have the ability to post anything your heart desires. The utility our token offers is the ability to incentivize your needs. Our goal is to collect attention on steem and grow the value proposition of this robust economy and blockchain. When our SMT launches it will continue to provide its own utility in the way its users decide to build it or fork it.
We will fork our own front-end to build communities around games, entertainment, education, storytelling, DIY, and infrastructure. Our blockchain infrastructure allows us all to participate in this in the real world.
We will continue to bring in augmented reality and machine learning functions. Showing, not telling, what the future of commerce can look like.
And the wrong ways:
- No vesting term for founders
- All at once delivery of tokens
- Delivery/liquidity of tokens before utility
- Use of gimmicks to find speculators
- 1:1 Airdrops
No vesting term for founders
Our founders will have their stake powered up upon delivering. This gives us every incentive to make our product successful and will also signal our long term intents publicly while subjecting us to no addition need for oversight or guidance. We strongly believe we are all equals in life and won’t support a system with classes of users.
All at once delivery of tokens
Our tokens will all enter the market simultaneously but will only be made available to investors and delegators. Only people with tangible assets to our community driven vote fund or contributed to our knowledge base will have tokens.
Delivery/liquidity of tokens before utility
Tokens for any purchasers become liquid upon distribution. Tokens issued to founders and initiatives will be powered up.
Use of gimmicks to find speculators | 1:1 Airdrops
To both of these, as previously stated... we only distribute to people who invest their time or crypto with us.
I think the most gimmicky thing about our model is that it should work on its own... you just have to trust it. It shouldn’t take money to run it... but money currently represents trust... so if we can put our trust in something... and it runs itself.... the “money” that went in kinda just loses its value because the only thing money is good at is being the unit of exchange. It will only work if we believe it will; can you believe in a better tomorrow?
Breaking out of the ad model and their contrived filter bubbles. The monopolies these companies create and enforce through governments. Public domain information can be utilized by anyone who accessed it to make their lives instantly better. Teach people math with a game. Teach people history with a game. Let people experience your story...
Anything you want to create is yours to build. The value this distribution paradigm has is in its freeness.
nice post, my wife leased you some Steem today too, cheers
pretty cool .... @crimsonclad is talking about you on msp now and we are checking you out, really cool, following so i can look more into the potential when i get home from work, really cool idea
Hey, @disregardfiat.
Since most of this post is based on what you read in @protegeaa's posts, I'll first just say that seeing how your SMT lines up with his outline is great.
I've been to the dlux.io site, and was able to load the old game. The other experiences didn't come up for me. I waited around 30 seconds, but nothing seemed to be moving.
In a more recent post, dlux.io was described as an OS for STEEM, the reason being, that anyone will be able to interface with it, build on it, and monetize what they make. Is that correct?
Some people have been wondering at the lack of funding by Stemit Inc to this project. Is there a reason that you know of why they haven't jumped onboard ye? Also, this sound reminiscent hivemind, but perhaps on a much larger magnitude. Is that a fair comparison?
Howdy! I'll try to structure my reply appropriately.
One of the biggest reasons we are seeking funding is because we've outgrown our 'freemium' infrastructure. We need our own IPFS node to pin content to with an automated bot. This along with raising funds has been on my plate... and more than likely is the reason content wasn't loading for you. This is a relatively easy fix.
In general all of the front-ends are operating systems for the steem blockchain. Right now most of the actions available are at the file system level. Basic read and write and find... like DOS. Using steemit.com isn't much different than using the CLI Wallet.
Dlux differs by using that information to build applications that are aware of their own data, with out being on the blockchain. This enables several people to meet and discuss "in" a program. More or less, anything that can run on your computer can run in a web browser(maybe a bit slower as javascript isn't multi-threaded). Since the programs posted on dlux are MIT or CCBY licensed you should be able to modify, adapt and learn from the creative commons, pushing the envelope of the possible with every XR post.
I haven't talked much with steemit or investors in general. I believed in proof-of-brain maybe more than I should have... I think steem has been burned by several of their larger delegations. For instance dlive with 2M SP. Personally, I would love to see steem put some delegation weight behind this and opt out of ICO distribution.
I think hive mind is an intelligence term talking about emergence from chaotic systems, the steem community hopes to cultivate the edge cases of progress so we can collectively play the worlds largest game of "best ball" by incentivizing the most useful content. I think dlux takes this concept to a higher level by making collaboration and instruction even easier and cheaper. All our goals should be aligned, we are interested in solutions, and hope that everybody has the ability to use their attention and expertise to effect the changes we desire.
Thank you, @disregardfiat. I think your reply was definitely structured appropriately. :)
re: seeking funding
Okay, well no question you can and should seek funding, especially with all of the infrastructure you're needing.
re: front-ends
Okay, so data aware apps, without being on the blockchain. That's what I understood hivemind to be, another layer on top of the blockchain that dapp developers could key into quicker. At any rate, I'm not an expert, so if I'm wrong, I'm wrong. I only know what I read, and even then, I don't necessarily 'know.' :)
At any rate, I like the idea behind dlux, and can see the potential it has to majorly blow up. I was just wondering if it might be in competition with what Steemit Inc was already building (supposedly, that is :) and that might contribute to no delegation so far. The idea that anything can happen in AR/VR is awesome, though I will probably not understand it fully until I can see more of it in action.
re: proof of brain
I'm guessing you're not the first dapp development group that has ran into the same issue. I think it's actually written in one of the papers, white, blue, or in a post by dan, where the structure of steem was not conducive to developing apps on the blockchain. I'm pretty sure I read that early on, but haven't gone looking for it again. Also, that would have been written before delegations were a thing.
I know a lot of people blame dLive. As far I'm concerned, they have some level of blame, but I wonder just what kind of vetting or background checking Steemit Inc does before they start handing out delegations. Is there a need for a sound proof of concept, a working prototype, some founders funds invested in the account, a level of dev knowledge required—whatever might be pertinent to determining whether a project could be successful. And then, maybe a non-compete clause for a reasonable period of time if the dapp doesn't want to continue.
We're yet to know, too, what Steemit Inc knew and when knew it.
I don't know. I tend to think in terms of what Steemit Inc can do to make things better with regards to their delegations rather than blaming the dapps for their lack of loyalty or inability to get things off the ground.
This is both self depreciating and motivating:
I wouldn't have invested with us when I had the idea. I had the idea before I learned javascript, before I ever thought about interacting with a blockchain past buying or selling(I bought my first bitcoins the day the silk road was taken down). My goals have been to solve problems of the world by giving everybody the appropriate tools, knowledge. It just so happened that while looking for ways to do that(this was most of Jan 2018) that steem was the perfect vehicle to deliver this knowledge.
Building the platform has been an exercise in learning AR/VR frameworks, ipfs, steem api, and building servers with express. Not a single one of these concepts I was even aware of in 2017. As such we haven't even had the confidence necessary to reach out for funding... but we looked around during the summer and with a more technical understanding realized we had solved a lot of problems with dApps in general. Namely, you can interact trustlessly off blockchain with the same amount of security. This doesn't fix issues where you have to trust the client, but anytime the program itself is content dlux is the most cost effective solution available for distribution... it probably will pay dividends and at the very least out right FREE.
That's pretty amazing, especially knowing you weren't aware of various concepts as late as last year, and yet here you are building on them. Obviously, you have great aptitude for it, or at the very least, an ability to learn multiple systems/code/frameworks virtually simultaneously. I don't know if that can be oversold at this point. That's awesome.
Well, it sounds to me like going after the funding, talking to someone at Steemit Inc about it directly, is the next step. The fact that you've been giving it a go like you have should demonstrate your level of commitment to and belief in the platform. Can't hurt to ask, and certainly will help if/when you get it. In the meantime, maybe some other delegations will come in.