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RE: Qurator ICO launch - Juicy details inside!!!
Hey,
I’ve got a few questions:
Would it be possible to sell QBonds back to @qurator for STEEM at any point? Or will there be a secondary market where bond-holders can trade QBonds among themselves? Or will they be strictly non-tradeable?
Once the accumulated payouts reach 1.2 STEEM per bond, it will mean no more future payouts and the bond will be “liquidated”, do I understand correctly?
Will you continue issuing QBonds for an unlimited period in the foreseeable future, or do you have a “hard cap” on the total amount of QBonds to be issued?
The ROI is clear here, 20%. Do you – even very rough – estimates how long it might take for the QBond to reach “maturity” (that is, when the accumulated payments reached 1.2 STEEM)?
Hey,
Some good questions here.
For now there will be a way to trade the QBonds back for steem but since we might have to powerdown (depending on the amount requested) we will charge a 5% fee and a week long waiting period. No plans on trading between members yet.
Yes, once the full 1.2 steem is paid out the bond will be 0. When SMT's arrive our plans are to give members the options to exchange QBonds for Qtokens and holding those tokens will give constant payouts for as long as you hold the token.
For QBonds there isn't a hard cap just yet, since it is not really a financial token but more a kind of a loan that will be paid out over a period of time. Once SMT's arrive we will surely have a hard cap but no solid plans just yet, we need more info on exactly how the SMT's will work within Qurator.
This is the biggest question and it all depends on our internal profits. If we sell a only a few Q bonds then the payouts will be rather quick, over a few weeks, if we sell into the thousands then it might take longer since payouts will be slimmer. It also depends on the price of Steem, so if price suddenly goes up it means so will our profits. This is slightly experimental and we are also testing the waters with this. To give you a rough idea, we received a total of 170 steem so far. The first payment will be around 40-60 Steem being paid out to members, that is covering quite a lot. If we do see more Qbonds being bought it will take longer to pay out. Many factors, luckily you are early. ;)
Thank you so much for your very detailed and well-thought out answers, @qurator. Based on the answers you have provided QBonds look even more awesome than how I understood them at first. I'm in! :) Twenty QBonds, please. :))
Oh, and another follow-up question, if I may:
You are most welcome.
If the QBonds are paid out before the SMT's then it means you will have 0 QBonds to exchange so, for now they will not hold any value once they are paid out.
I see Q-bond as a simple debt instrument that has a inherent currency swap built into. It has a potential to be very profitable for either parties if steem prices rally, but a long drawn debt instrument if the prices stay lower. Basically it is a way to raise capital to cover operational expenses during a low price environment. Both buyers and sellers will benefit from a price rally.
To a buyer it is a High-Yield Debt Instrument. Just as an example current yield on a high yield corporate bond (junk bonds) is around 5.25%. You can check an ETF which tracks that market like HYG . That instrument have inbuilt diversification; Q-bond doesn't, but the return offered is much higher. As investors are taking more risk. However, we can speculate the capital is perhaps secure. What is can not speculate is future price of steem. There lies the risk.
Nice of you to put a disclaimer.
Ah, it makes sense! Thank you!