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]]>Jean Russel: This week’s #Holochats theme is #responsibility. In that context, I want to share the strategy for Holo’s ICO, and how it is designed to support responsible flows in the ecosystem. [For those interested in knowing more about generating flows, Herman Wagter and I wrote a book, Cultivating Flows.]
We want to build a thriving ecosystem. To jump-start it, we are choosing to run an ICO together with a crowdfunding campaign in order to support three primary capacities in relationship to each other.
Accomplishing this meant we had to answer several questions: How do we carry out our ICO responsibly so the ecosystem can thrive? Who are we being responsible to? How do we run the ICO in ways that honor the ecosystem as a whole? How do we reward both our initial community creating the ecosystem and the participants in the ecosystem?
In our ICO, the crowd’s participation is just as important to us as the funding we’ll be generating. We aspire to be an ecosystem of distributed participants. That means:
We aspire to be an ecosystem of flows, where people are rewarded reasonably for engaging in ways that increase the health of the ecosystem. That means:
We aspire to reward those with early faith in the ecosystem we are building. That means:
We aspire to raise enough funds to responsibly deliver on the promises, and the ideas put forth in our Green Paper (and other papers we created outlining the ecosystem). That means:
Given our aspirations, how do we then design the shape, structure, flows, and opportunities of the ICO to fit those assumptions and aspirations?
We want our existing participants to have access to the economy they are participating in. So when the ICO launches, we will notify participants (except those in restricted locations) that the tokens that they have released into the ICO through their purchase are reserved for them. We know it takes some time to receive and read the notification email, get whitelisted, and purchase your reserved tokens so we have implemented a three-day waiting period before reserved tokens are added to the ICO’s available supply. They are available for purchase exclusively to the person who released those tokens for 24 hours. After that, they are openly available for purchase. The tokens created by purchases from locations that are restricted from participating in the ICO will be available for anyone (in non-restricted areas) to purchase.
We are quite excited to watch the movement of supply in Holo’s ICO. You can see the daily supply too at https://ico.holo.host.
Once the sale starts, you will be able to see the amount of supply, how much has been sold, and what is being held in reserve on this chart.
To release more supply in our ICO, bring in more hosts and developers through Indiegogo. Create this ecosystem with us, responsibly.
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