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[ANN] EVOLVE (Asset ID: 3385321989487982138)
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Author Topic: [ANN] EVOLVE (Asset ID: 3385321989487982138)  (Read 14976 times)

devlux

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[ANN] EVOLVE (Asset ID: 3385321989487982138)
« on: April 03, 2016, 12:08:59 am »



NXTAE:3385321989487982138 (EVOLVE)
**updated 2016-04-09, please re-read**

EVOLVE is the NXTAE symbol for Class A shares in Evolution. 
The full offering document is here...  (NOTE:  It is a rough draft and up for comment, please check frequently for the most current copy).
https://jumpshare.com/v/F5YaCoWBSpB6w8dbxzQW

Evolution is a community owned and managed, Development Company whose sole business is handling the business side of NXT.
We are the business of NXT!

This grows out of a few discussions we as a community have been having lately. 
These ideas are gaining serious traction and decided that the time to bring this from dream to reality is now.
However this cannot be achieved unilaterally.  We as a community need to act.

Here is the long form description of what's planned...
https://nxtforum.org/general-discussion/time-for-drastic-measures-nxt-2-0-the-nxt-phoenix/msg213388/#msg213388

In short, we as a community need to take the initiative to build a business whose sole function is to get businesses to use NXT as a key infrastructure component.  While we do that, we also fund the current and future development and marketing efforts.

We use revenues generated from marketing and onboarding, to pay developers and then we pay our investors a quarterly dividend based on previous quarter's net profits.  It really is the business of NXT.

At the moment there are 2 phases of financing and a pre-phase where we're mostly concerned with gaining mindshare.
pre-phase 1 is what is happening right now it will last until April 10th. 

Phase 1 will begin Monday April 11th.

During pre-phase 1 we are mostly concerned with building enough critical mass from existing stakeholders that we can honestly say we have a mandate from existing stakeholders to even do what we're planning.  This is where we're at now.

This is ...

  • Selection of a board of directors
  • Selection of operating jurisdiction
  • Full legal incorporation
  • Selection of President, Vice President and Treasurer

For the Board of Directors, there should be at least 5 members.  Ideally the board should have at least 1 current core dev and 1 current foundation member, plus 3 from the community at large.
 
These positions will be voted on by only the phase 1 and pre-phase 1 stakeholders, as will the selection of operating jurisdiction. 
Full legal incorporation is a step that must be handled by the board, and the board would appoint President, VP & Treasurer, these three folks need to have a demonstrable track record in business and/or investing/finance.

As soon as those positions are filled, then we begin the process of creating a proper prospectus, registering and filling it with the SEC etc.
Once the SEC document is filed, then we begin the Reg A+ crowdfunding aspect.  Phase 2 is where initial operational capital will come from.
The operational capital will be used to hire developers (including anyone from the current core dev team if they want the job), we also hire marketing, and a dedicated business development group. 

Marketing's job will be to light a fire under the NXT price.  There is absolutely no reason for NXT to be lower than ETH.  Marketing's job will be to feed the media cycle to drive and attract excitement through every media avenue open to us.

The bizdev group will be concerned with the day to day operations of interfacing with businesses of all sizes and onboarding them onto the NXT platform.
They will work with the software development group to develop custom business interfaces to the existing NXT core.

In addition to the custom business interfaces, the software development group will be concerned with assisting in the ongoing development of NXT core, and a simplified lightweight client.

We will also be contributing 20% of shares to the NXT Foundation so that even people who are not able to be major stakeholders, can have their voices heard.  We see this as symbiotic relationship.  The NXT Foundation is concerned with evangelizing the coin and rewarding people who make tangible contributions.  To do that they will need ongoing capital in order to function.  We are willing to devote 20% of the entire effort to the community at large. 

At the moment we are about to leave Pre-Phase 1.  This means hammering out the final details of certain key positions.

Phase 1 sales must be private placement and those offerings require you to either be an accredited investor according to the SEC definition, or to have an existing business relationship with us.

Fortunately, the definition of "existing business relationship" is a bit, loose. 
So while we get this rocket lit, we're hiring everyone who reads this thread and who wants to bring matches and fuel.

Market it, talk about.  Make some noise. 

We don't care if it's a tweet back to here, or a youtube video talking about it, or a blog posting of your thoughts on it.
Join the marketing team.  Do a job, then post a link back here as well as your NXT ID.

You'll receive some shares as compensation and you'll literally have a job in the marketing group, that's yours for the taking.

At that point, you have an existing business relationship with this effort and will qualify for private sale pricing during phase 1.

Additionally, there are also a small number of shares floated right now on the NXTAE. 
The shares were initially listed at 10-13 NXT each, there were only 3,000 of them, they were snapped up instantly. 

These shares exist to give members of the community who want a voice in this, but don't want to do any marketing, a chance to have some initial upfront voice. They are votable.  There is a standing offer to buy them back for 11NXT each, if you decide you want to sell.  This way you can have a say without having to carry investment risk by holding long term if you don't want to.

Pre-phase 1 is expected to last until April 10th.  If all goes well, then April 11th will be the launch of Phase 1.

Obviously the SEC registration would be dependent upon incorporation in the USA or Canada.  If the pre-phase 2 holders decide to incorporate elsewhere then Evolution will be subject to those laws and thus the plan would adapt and evolve accordingly, but this is the proposal in it's current from.

Let's Evolve NXT!  Together!
« Last Edit: April 10, 2016, 02:22:42 am by devlux »
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

JohnHolmes

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Re: [ANN] EVOLVE
« Reply #1 on: April 03, 2016, 03:35:12 am »

Reserving this space temporarily while prepping for an announcement, in the meantime please enjoy this image of a fish holding a spanner.


That's an axolotl
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devlux

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Re: [ANN] EVOLVE
« Reply #2 on: April 03, 2016, 03:43:00 am »

I suggest we adopt him as the mascot for this and name him Axl!  :)
I just realized that Twitter's mascot is named Larry Bird.  Wonder if we'd get in much trouble calling him Axl Rose. 

(note to non native english speakers who might have trouble following this logic, Axl Rose is the lead singer of Guns & Roses, but rose can mean the flower, or the action of having risen from something).
« Last Edit: April 03, 2016, 09:15:06 pm by devlux »
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

JohnHolmes

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Re: [ANN] EVOLVE
« Reply #3 on: April 03, 2016, 04:18:55 am »

I suggest we adopt him as the mascot for this and name him Axl!  :)

+1, nice  ;D
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Riker

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #4 on: April 04, 2016, 06:20:59 am »

@devlux to start with, it's always nice to see new contributors to this community.
I wish you all the best and will be happy to cooperate with you in case the business develops.

I do have several questions for you:
1. Why not coordinate this asset issuance with the NXT foundation and devs ?
2. You are trying to raise 10M NXT for a valuation of 100M NXT, did I get it right ?
3. What is the justification for such a massive valuation ?
4. Are you also bringing some external money of your own into this initiative ?

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farl4bit

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #5 on: April 04, 2016, 06:33:37 am »

Great and enormous (as expected  ;) ) story! You surely done your homework on this one. The 'fights' on Nxtforum about the future where to some use, because this creation came out of it.   ;D

Your plan looks solid on first glanche, I haven't had time to read everything, but people who are creating value to Nxt with new concepts, deserve support.

I will follow this!
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lurker10

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #6 on: April 04, 2016, 06:47:40 am »

I am sceptical about it but then I am also sceptical about jl777's ventures. The plan is basically "Market it, talk about.  Make some noise." While it sounds right, it's nothing new and someone is already working on it.
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Brangdon

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #7 on: April 04, 2016, 10:41:41 am »

Wow. There's a lot going on here, with some big changes to the status quo. Much of it seems good, but some of it is a bit scary. Alongside the talk of raising money to pay developers, there's this:

One of Evolution NEXT's first goals will be to build a mechanism where existing stakeholders can directly accept or reject changes to core, regardless of the scope of change.

which is about bossing the core devs around. It comes across to me as a bit of a power-grab.

I'm a programmer myself, and I believe decisions about what goes into the core are technical in nature. It's a specialist area. The "existing stakeholders" won't have the necessary knowledge. I know I don't myself; I've done a bit of Java work in the past, but I'd defer to Jean-Luc when it comes to cryptography because that's a whole other level of expertise. I'm concerned that rule by plebiscite will either reject necessary changes, or accept bad ones. Or else it will end up rubber-stamping whatever the core devs recommend, in which case, what's the point?

This is on top of my more basic fear that this project will destroy the, let's call it the benign dictatorship, that has achieved so much over the last several years, before it is able to put something better in its place. You need to establish that you can actually generate enough revenue to pay for new devs before risking pissing off the old ones. And from what Riker wrote, it sounds like you have not yet discussed this with them, let along got them on board with it.

I also have to point out that there is already a mechanism where-by the stakeholders can reject changes to core: they can refuse to upgrade their nodes.

As far as upsetting the status quo is concerned, I have similar concerns with respect to the Nxt Foundation and the TNNSE project. I'm not sure why you think you can do better at marketing than TNNSE, and I'm concerned that having two groups doing what sounds like the same thing will at best duplicate effort, and at worst lead to confusion in the outside world and conflict internally.

I'm sorry that this comes across as negative. In this post I've been reacting to the scary stuff. There's also a lot of good stuff. I like the notion of crowd-funding, and of having SEC registration, and a lot of the rest of it.
« Last Edit: April 04, 2016, 10:45:35 am by Brangdon »
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NxtSwe

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #8 on: April 04, 2016, 11:42:00 am »

I really like the idea of having it set up as a business with the intention of making money.
Not only do I believe it is possible to make Evolve to work, I think it's necessary for the future of NXT.
It is the only way to support the NXT platform in the long run, unless you believe in having an ICO every now and then.

There are two questions that need an answer for this venture to be successful:

1. How can NXT as a platform help businesses to lower their cost and/or increasing the quality?
2. And how can EVOLVE help those businesses to do it faster and cheaper than them doing it themselves?

While the NXT platform has a lot of features, I think we should continue to improve our existing features to make them more usable.
For example, how much time and effort was spent on the MS system? Is it being used as much as we hoped?
Nope, because you always need NXT in your wallet to be able to transact.

If you want to receive payment in a MS currency or an asset when selling on the built in marketplace, well, sorry you can't do that.
You are locked to using NXT as currency.

These are two things that hinder adoption.
Now I understand that they might be tricky problems to solve, but I believe these are the type of questions that will pop up immediately when you start talking about solving problems for existing businesses.

I am however positive when reading your proposal, and I believe that a tight cooperation with TNNSE, core devs, existing NXT businesses are a requirement for this to work as well.

What scares me a bit is the SEC and compliance part.
I would hate to see this see this buried in bureaucracy and tied up in red tape.
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Damelon

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #9 on: April 04, 2016, 01:03:46 pm »

I like the fact that there are more people making plans :)

I propose we get into contact with each other, as quite a lot in your plan is already being worked on, or on our "to do" list for both Foundation and TNNSE.

It makes no sense to do things twice or to dilure our efforts and funds.

I think it would be great if we structure this in such a way we benefit from our collective knowledge and efforts and work towards the same goal.

I've also sent you a PM. Let's try to work something out.
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devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #10 on: April 04, 2016, 09:54:46 pm »

Thanks everyone for the great feedback.

@Riker
Quote
@devlux to start with, it's always nice to see new contributors to this community.
I wish you all the best and will be happy to cooperate with you in case the business develops.

You have no idea how great it is to hear you say that !
I have yet to coordinate with the devs on it at this time because I figure if you're working for free now, there would be very few complaints about paying you guys a market salary to continue doing great work.  Jean Luc has already stated that he didn't remember signing up to be part of a company, way back in another thread.  If this fails then I won't have wasted your time.  In the meantime, as laid out in the linked document, the plan is to give current core dev team 10% of this to split as you see fit. 

Also I mentioned there will be a need for a board, it should have at least 1 member of core dev, 1 foundation leader and 3 general stakeholders.  My plan is to nominate you to the board position, but it's not something I'm going to just foist on anyone.  I want to get the community to support this first and then seek you guys out.

I'm basing the valuation of EVOLVE on a standard accounting expectation of 5 years projected revenues.  This is how all new companies do their valuation by projecting forward like that, it's GAAP, so no fancy tricks.  Just an FYI though, we don't need to hit all of Phase 2 funding in order to be successful, in fact we only need about 2% of phase 2, assuming phase 1 is a success and we can hit the ground running.

The reason for phase 2 is actually just to demonstrate "This is how you bootstrap yourself using crowdfunding and how to use NXTAE to do it"

I'm willing to coordinate with the foundation.  In fact the plan is to GIVE them a 10% stake sometime between phase 1 & phase 2.  That's in the document I linked.  This will allow those who are not directly concerned with business usage of NXT, a voice and I believe it would give the foundation some extra revenue as well to help continue their good work.

As for what I'm bringing in...
Yes I've brought my own money to the table, but there isn't much I'm willing to risk given the current direction the winds have been blowing.  In lieu of money, I've also brought my time, my analytical skills and my knowledge of business law as it exists in the USA.  I've also brought my skills as a Systems Architect and my skills in business management in general.  I'm also bringing you feedback from customers who walked away in frustration and went to competitors.
Most importantly, I'm bringing intiiative.  There has been a lot of talk about "what if we do this, what if we tried that?".  Marc and a few others have been running polls and one of those polls indicated that there was enormous support for an iterative approach that mostly focused on the UI and on bringing in business and getting them to use the product.  All I'm doing here is making that a reality.

@Lurker10 You need to read the plan closer, it's a lot more than market it and make noise.  I'm saying to market and make noise about EVOLVE and NXT in order to help me get this ball rolling, but the Evolution NEXT plan involves turning NXT into a replacement for something like SAP, that also integrates shareholder management functions.


@Brangdon, I expect that most folks are like that.  They'll see it, won't know who or what, but they'll see a name and vote for or against the name.  But the description should also be explanatory.  (This change modifies the coin by doubling the supply as of block xyz) or (This change fixes a UI glitch on mobile platforms).  I like this idea in general, but adding it to the platform is not THE driving thing I think we need right now.  The idea has been tossed about and Evolution is an omnibus of those ideas.  It will be up to the community to decide if that's even something that they want.  It does keep the devs from taking their ball and going home though :D

@Damelon
I've been contacted by both you and EvilDave.  I agree we should all have a meeting very soon.  I don't do skype but I have an alternative that works better, requires no signups, no installs and runs on anything.  I'm on EST, well Cancun time, whatever that works out to.  I would be glad to speak to the foundation, I don't see this working without you.  I am available most days after 1PM / 13:00 EST.

To everyone else...
I have no desire to do this unilaterally.  I'm taking what seems to be the pulse of the community and showing how we can build a business around it.
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #11 on: April 04, 2016, 10:16:36 pm »

Just a note.  The initial voting stock sold out in under 24hrs to a total of 3 people.

To those 3 people I say thank you very much for your support.
I can promise we will never sell that low again.
I've put out another 1000 shares, this time @ 11 NXT.
The goal here is to get a representative sample of the community as at least nominal stakeholders.

Thanks to all those who invested so far.   I've broached a conversation with a company that could provide a direct fiat on & offramp for this endeavor, they currently have their own MasterCard Issuer Number and can offer sepa.  They already have a bitcoin solution in the works, I feel quite certain we can talk them into offering NXT as well.  I believe that working with them could allow a complete SAP like solution to evolve out of the current NXT.
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

saladin89

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #12 on: April 04, 2016, 10:23:04 pm »

Great plan, i hope something fruitful comes out of this.

Also, I must say I agree with Brangdon most people here don't have a clue about the technology and how it works, I fail to see why they should have a vote here, we talked about this previously here:
https://nxtforum.org/general-discussion/crowd-funding-without-ipo/msg214332/#msg214332

I don't think someone explaining this would solve the problem. since I don't know the intricacies of cryptocurrency I would just vote for the option that jlp would think is the best. this is the only real problem I have with your proposal.

Good luck!
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devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #13 on: April 04, 2016, 10:42:18 pm »

Great plan, i hope something fruitful comes out of this.

Also, I must say I agree with Brangdon most people here don't have a clue about the technology and how it works, I fail to see why they should have a vote here, we talked about this previously here:
https://nxtforum.org/general-discussion/crowd-funding-without-ipo/msg214332/#msg214332

I don't think someone explaining this would solve the problem. since I don't know the intricacies of cryptocurrency I would just vote for the option that jlp would think is the best. this is the only real problem I have with your proposal.

Good luck!

There was going to be an effort to crowdfund development of this specific feature.  We even had 1/3 of the total $20k USD pledged before I even had an escrow agent chosen.  Only reason I included it in the plan.  If the community doesn't want it, then don't vote it in :)
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #14 on: April 04, 2016, 11:24:46 pm »

Another 1000 EVOLVE @ 11NXT just sold out.  Placed 2 more orders.  1000 EVOLVE @ 12 NXT & 1000 EVOLVE @ 13 NXT
Also moved my personal funds to a different account so there is no mixing of personal and business assets.
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

Marc De Mesel

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #15 on: April 04, 2016, 11:52:19 pm »

You are clearly very smart and could be a great asset but I'm becoming skeptical devlux.

Issuing lots of shares rather quick, promising leading people free allotments.

Hope you are the real deal but recommend to proceed with caution.
« Last Edit: April 05, 2016, 12:10:01 am by Marc De Mesel »
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devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #16 on: April 05, 2016, 01:17:57 am »

Marc, it's good to be skeptical.

Folks, for those who don't know me.
I've been in IT for well over 20 years.  I have a background in systems analysis, software & systems architecture as well as large scale project management.  I also have an MBA. I started developing software full time in Junior High and have never stopped loving the art of programming. 

For me it's an art like poetry.  But poets tend to go hungry, even the really good ones.

I've been feeding myself and my family doing freelance consulting work for well over 10 years with the last 5 years being exclusively freelance.
This means I am a hired gun. 

Companies come to me when they have needs, I help them solve their needs and then they pay me and we both go on our merry way. 
The average length of my involvement is around 6 months.
My rates run a bit north of $100 USD per hr.

Immediately before launching this endeavor, I contacted Marc and several other members of the community.  All with basically the same message.
There is nothing I am proposing here that is really new, except for bringing it all together under one roof and making it legal and legit.
Recent polls indicate that this is something the community is interested in. 
Our talks about this have lead me to believe that you could serve a key and vital role in bringing this from dream to reality. 

Marc has until this time, probably been my staunchest ally.
I explained to him that I felt that he is entitled to a stake in this, but that I would not force it on him if he didn't want it.

I guess that this is his reply to that.  Although I'm a bit befuddled as to why.  Seems to me he should have PM'd me, emailed me or something in order to decline.  Instead he did it here publicly.

Marc clearly feels something is up about all of this. 
That somehow this isn't real, or that maybe I don't have the skills to pull it off.
Fact is I don't. Not by myself.  I know what needs done and I can do a lot of it.
But I can't do this alone.  I never claimed I could. 

We as a community need to come together to do this.
That means raising funds, appointing key individuals, handling the legal paperwork of incorporation and hiring people for jobs and paying them a living wage.
Treating the business of NXT as a business.  Using NXT as a model that other business can use. Instead of trying to claim that what we have has failed and do an IPO to launch a new coin.

Truth is we're starting from scratch on the business side here. 
I took what was left of some coin that Marc sent me as payment for some advice I gave him, advice he felt was valuable, and I used that to back this venture.  I'm in a couple of hundred bucks.  If it fails I'm out a couple of hundred bucks and a lot of my time.

But we have a plan.  I feel the plan is solid.  Looking at the number of people who are buying the very few shares I've floated, there appear to be some folks who feel that this is a solid path forward.

I'm actively looking for people to step up and help with this.  Whether it's financial, or marketing or whatever.
For that to work you need to believe two things.  That NXT as we know it, has a future and that the future of NXT looks like what I've been saying this whole time.
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Evolution NEXT D.A.C.
NXTAE:3385321989487982138 (EVOLVE)

JohnHolmes

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #17 on: April 05, 2016, 01:33:17 am »

Another 1000 EVOLVE @ 11NXT just sold out.  Placed 2 more orders.  1000 EVOLVE @ 12 NXT & 1000 EVOLVE @ 13 NXT
Also moved my personal funds to a different account so there is no mixing of personal and business assets.

Some honest feedback, I really don't like 'ladder' style of asset sales you're using. I know many have done it in the past, but if you want community wide support for this initiative I think everyone should pay the same price after a period of discussion and contemplation. I'm still thinking about what you're proposing here, but the 'greedy little man' inside me is noticing the price go from 10, to 11, to 12, to 13 etc, and that's making it feel more like a P&D play which is worrying me, when I think what you're really trying to do is unite the whole community behind a more professional and stable organisational structure with better funding.

A set price IPO at a given date is far superior. Please re-consider.
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devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #18 on: April 05, 2016, 01:42:03 am »

Another 1000 EVOLVE @ 11NXT just sold out.  Placed 2 more orders.  1000 EVOLVE @ 12 NXT & 1000 EVOLVE @ 13 NXT
Also moved my personal funds to a different account so there is no mixing of personal and business assets.

Some honest feedback, I really don't like 'ladder' style of asset sales you're using. I know many have done it in the past, but if you want community wide support for this initiative I think everyone should pay the same price after a period of discussion and contemplation. I'm still thinking about what you're proposing here, but the 'greedy little man' inside me is noticing the price go from 10, to 11, to 12, to 13 etc, and that's making it feel more like a P&D play which is worrying me, when I think what you're really trying to do is unite the whole community behind a more professional and stable organisational structure with better funding.

A set price IPO at a given date is far superior. Please re-consider.

Good point I never thought of it that way. 
My thinking was that we could use it to find some price discovery.
I'll fix it right now.
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devlux

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Re: [ANN] EVOLVE (Asset ID: 3385321989487982138)
« Reply #19 on: April 05, 2016, 01:49:08 am »

All fixed.  No more sales on the AE until May 1st.  Private sale only.
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