Device Preloading - Unsold Tokens


#1

There is a large question mark around what will be done with unsold tokens. If they are simply burnt, then the ideal distribution won’t be met. Of course, this is a problem. There is the notion of distributing them to existing FHR (I’m one of them so that could be nice), but I don’t know if that’s the best way to incentivize network usage. At least, I don’t think it’s as good as what I’ll suggest below:

Let’s define a few network participants:

  1. Miners [Sentinels, bridges, archivists, diviners]
  2. dApps [phones with geo-dApps installed]

Then let’s define a deadline (we can more properly define this later):
June 1, 2019

Finally, let’s distribute:
All participants that enter the network prior to the due date receive unsold XYO tokens

For the miners, the tokens may only be used for staking for some amount of time. i.e. XYO (the company) could associate a public key to your IP Address for staking, without giving you the ability to dump on an exchange. After some period of time, or minimum network activity, the tokens are sent to the device owner to use as he/she pleases. The amount you receive for staking could be distributed by the amount of hash power you’ve brought to the table. After you receive your staking tokens, your mining abilities would be bolstered.

Similarly, the dApps may only use the tokens for network costs. This may be a little tougher to accomplish. But if there was some logic built into the tokens or the network that could say “if this token came from post-gamma distro, then it’s first destination must be back into the network (as payment)” … it would be like an XYO gift card.

The actual nature in which we enforce the logic of staking/spending could be hardened, but I think my idea is overall clear, and fairly powerful. Shoot, we don’t even have to enforce anything. They could just be rewards for being “Founding Network Participants” FNP, similar to FHR and let the device owners do as they please.

In my opinion, we accomplish the following:

  • Distribution goal is met - all coins end up in the ecosystem and in the hands of people who both want to use the tokens and hodl them, but not sell them.
  • The more the FNPs use the network and spread the word, the more valuable their reward will be when it’s distributed after the deadline.
  • Network growth and usage is incentivized
  • Tokens don’t get dumped.

Another approach would be for XYO to guarantee some amount of tokens to the first group of miners. The cost of building a miner (archivist, diviner, etc.) could be immediately offset. This would be GREAT incentive to get started.

We’re basically saying “hey, we’ve got some extra tokens here, and we only want to give them to people who provable participate (have miners, dApps, etc.)”

@abramelin582
@Cryptonaught
@scott
@GrahamMcBain
@carter


XYO token distribution
#2

Shoot, I meant to post this under the existing thread on this topic. Not sure how I ended up in a dedicated spot :roll_eyes:


#3

@pizzamind might like this.


#4

This decision should have already been made. I doubt the team is looking for new ideas as these tokens need to be distributed at the end of gamma As was said all along.

A huge he’ll no from me letting them hold them for 6 more months and load them to be mailed to people. The mail just isn’t working for the team. I’m still waiting on a kit since May. Also… they seem to be coyboys changing up what they roll out last minute… a lot like what’s happening to the fhr now. What’s to stop them from saying something now and switching ideas in 6 months… it’s just hard to see them not doing that… they have done it to every important milestone.

It’s a good idea if it was rolled out before the start of
Gamma. Just too late for this type of thing in my opinion. This mistrust of the public pool and trying to find a way to lock or delay the distribution of these tokens is getting concerning to me. As I mentioned before 1/2 billion was given in enormous 1 million charges for spacial and over 3 billion to “ consultants” many of them convicted criminals.and bounties… why is the public pool treated differently than any of these groups… I’d think we should be treated better if anything.

Also although this is a utility token to pretend that individuals got into this without investment is rediculous… so rediculous that if the team keeps pushing that it will never sell on exchanges. People don’t buy in binance to create dapps etc. purely investment buyers. Let’s remember that this is a crypto coin and MOST people will buy it as an investment and not for its utility.


#5

It’s important to also remember that gamma sale was created to

1)create fair and even token distribution
And
2) Continue crowd funding for team to get some more money and get this thing off the ground

Gamma leftovers should be used to

  1. create fair and even distribution
    And
  2. give back to the community that funded xy to get this thing off the ground.

That’s been my opinion and I continue to support the abramelin plan … with no new edits ( locker tokens) especially if the team doubles the fhr by adding stock holders . Not even sure how they are going to arrange this list with stock holders


#6

First, with the end of the Gamma sale it’s very clear now how many tokens they burned and how many they hold as “the company.” All that is stated clearly on the website.

Second, there have already been Airdrops. I participated in the one on the 13th but never received my tokens.For those unfamiliar, an Airdrop is a one time opportunity offered by the XYO network to purchase tokens from their bag, using your MyEtherWallet or whatever you used during the initial ICO to buy in. There were very specific instructions, links to follow and public keys to be shared. I put X amount of ETH +the promise to add a 4% bonus in tokens (computed by the number of tokens I hold) to qualify for the Airdrop.

I have reached out multiple times to the investors (token) support email without response. ETH gone, no tokens in my wallet.

3rd, and not least is the FHR. I bought stock, mining kits and tokens to support this endeavor. Airdrops, mininers and stockholders should be just as important to this development as “HODLers” (I fucking hate that word) Hey guys on the DEV team, we’ve rolled out the hardware, help us out here please!

I think XYO has huge potential. I have two bridges and 16 Sentinels working already. Are there truly no moderators from within the XYO team monitoring these messages? Please respond and advise asap.


#7

@ricthesoundguy
As far as I knew airdrops haven’t started yet… could you have been scammed and reaching out to a scammer? I hope the team can step in and help. I too have had no response but if I was in your shoes I’d hope someone steps in to help soon.

As far as the “fhr” being a fhr member since the start of this whole thing meant one thing. And that is that you bought tokens direct from the site. Changing that at the 12th hour would not really be fair to people who did just that.

If I was to tell you I supported xyo buy buying tokens when eth was high so …If the company sold tomorrow

although I did not buy stock

I’d like to have shares and be paid part of the deal hence shrinking your earnings would that be fair to share holders?
That’s where most fh’s are coming from.
I too hate that term hodl’er

I you get help soon. Try tagging someone internal on here.


#8

I fully empathize with the “I bought in at a premium” mindset. I’m one of those people. It seems that just giving people unsold tokens doesn’t add value and there’s risk of sum-zero - more tokens, less value=no real benefit. But making those tokens serve a purpose adds value to the ones already in your wallet and helps us realize a network that doesn’t exist yet. I think our biggest challenge isn’t about immediately satisfying FHR (by any definition of FHR) as disappointing as that feels. It’s about legitimizing and establishing a large network. If we can do that, we will gain long term sustained benefit regardless of how we define FHR. Receiving a bunch of tokens sounds great! But I didn’t pay for those. I paid for the ones I have at a price I agreed to.

Great to hear passionate and well founded positions all around. The perspective is appreciated and I truly see all and feel for all points. Perhaps the ship has sailed for a preload option. Whatever choice the team makes, I hope we all get something out of it.

The airdrop thing is a little concerning. ALWAYS CHECK URLS!


#9

I completely agree. But I bought into a token and a group that said I would be part of a small group that will only exist until exchange or stable ground and that group will only be made up of people that boght tokens from the xyo network site ( premium that we speak of) That group paid a premium but would be rewarded for doing so…that was the deal. Now it is not


#10

Honestly I’m not even venting just discussing it with others to see how everyone feels and if I’m alone in my thoughts… it’s also good to know if I’m thinking something way off target on my thoughts.


#11

I agree with you taht you get what you paid for which is exactly why I’m disagreeing share buyers be added to the fhr or fsr or whatever. These are questions and concerns we’ve been talking about since May. To have one guy wrote on this one site that he wants to be added to the fhr and Scott and team decide 2 days later that’s a good idea is crazy to most any of us early adopter. I don’t care either way really just hate surprises that contradict what I’ve been told all along… it def would have changed the way I purchased my xyo


#12

It’s all super frustrating. Leaving it up to 4 votes (regardless of their position) is pretty lackluster. And leaving it up to a vote at all isn’t great if they’ve made prior definitions that drove our decisions in the first place. Vent away, I don’t think you’re alone at all. But rectifying the past may not align with what’s best for the future (to my dismay), but then again, maybe satisfying initial investors really is most paramount for success. It’s easy to judge from our limited perspectives. I’m just trying to stay positive!


#13

Ditto!


#14

FYI, I was scammed. I got the link from their own Telegram channel! Someone (running a bot no doubt) is announcing airdrops in the XYO Telegram channel, and the support team “is making every effort” to get the accounts spamming the channel with the link banned as well as trying to get the site itself removed, I reckon via their ISP.

At any rate, this site and link had cloned the XYO site perfectly and the URL seemed absolutely legit. I lost 2 ETH and had to burn that wallet for good.


#15

Are these tokens not already owed by thre shareholders?
Divide them amongst share holders without whom there would be no xyo


#16

@Geobow

Not exactly. US had an opportunity to support XYO through the main sale and international has been able to support via Gamma sale - ie its not 100% shareholders that are propping up the company. Also, XY has existed for years before the crypto space even emerged. A fair distribution of the remaining tokens has been part of the plan but has yet to be realized. This could include distributing to some group of “founding” individuals. Maybe shareholders, maybe main sale participants - it’s TBD whether or not such a distribution would happen and who exactly would qualify.

Personally, I don’t like the idea of assigning a value of zero to XYO by giving them out. Yes, the company has given away many, and may continue to do so for promotional reasons, but I’m not in favor of perpetuating the devaluation of what we’ve already purchased.

My suggestion aims to meet the requirement of fair distribution by incentivizing network growth. For ANYONES investment to really pay off, the network must be realized and legitimized. Handing out free tokens doesn’t accomplish that. If it doesnt happen, then all your shares and distribution tokens will be worthless.

Of course, the timeline to achieve this is far out. Some investors already (and maybe rightfully) have deep frustrations with the company’s lack of transparency and whimsical decision making around this topic. Many are asking for the quick fix of distribution to the founders (by some unknown definition of founder). I completely empathize since I am one of those people, I just don’t see how devaluing XYO is better than incentivizing network growth.

More over, with respect to the target market size, the number of founders is very small. So, distributing to the founders isn’t a very widespread “distribution”. It’s still fairly centralized to a small group of people.


#17

I agree with your statement “Personally, I don’t like the idea of assigning a value of zero to XYO by giving them out” I could not believe you gave away FREE 1million to anyone and everyone who visited spacial. Had to assume only way to sell the tickets or face bankruptcy. The costs of spacial itemised in Scott’'s email must have caused a big panic.


#18

XY said that preloading hardware is what the “crypto economic reserve” is for… Left over gamma tokens should not be used for this. The Crypto Reserve exists for this reason, am I right? is that where the spacial tokens came from ?


#19

I think if you bought shares and a mining kit and own xyo tokens, you should be included. Coinbase held my funds so I missed gamma by 36 hours.