Aligning incentives between Bitshares and Cryptonomex

[santaclause102]

mainly because this will result in additional downward pressure.

Good argument. So it might only make sense after CNX has enough money to pay their devs.

Finding new money from investors and offering paid services as much as possible makes more sense to me.

This would make sense for a while but doesn't contribute to the stated goal of aligning incentives.

[xeroc]

If/when CNX shares become available, I will buy some.

You will certainly need to reveal your identity to get on the whitelist for trading/buying them ..

@delulo: I think it will not be received well I some whale would exchange his BTS for CNX shares from developers to fund them, mainly because this will result in additional downward pressure. Finding new money from investors and offering paid services as much as possible makes more sense to me. At least in the short-term until delegates/workers can pay enough to fund the development.

[onceuponatime]

If/when CNX shares become available, I will buy some.

[santaclause102]

Incentives are relatively well aligned but it could be better. I heard (on mumble) and read (https://bitshares.org/blog/2015/06/15/the-history-of-graphene/) that some core developers had to sell most of their BTS in order to continue to work on Bitshares / Graphene. They basically traded BTS for CNX shares this way because they bought themselves time because they didn't have to work some other job to pay their bills and invested that time into building Cryptonomex.
Bitshares would profit from a CNX team that has aligned incentives with BitShares. For example when deciding whether graphene is used for something that could compete with Bitshares or when negotiating whether someone acquiring a graphene license is honoring BTS etc.   

The idea is to partly reverse that trading of BTS for CNX shares again (voluntarily of course, but I will try to show how everyone involved could profit form it below).

Maybe some of the core devs that had to sell lots of BTS and are low in BTS can come forward and explain their situation and what they would want.

What could be done to align incentives more?
1. Some BTS whale (or a few) that is not a CNX shareholder could be found that is willing to exchange some BTS for CNX shares.
2. A fundraiser. Would be preferable to (1) if the participants in the fundraiser would receive CNX shares in return. If not the question is whether enough funds can be acquired with the fundraiser without financial incentives. The disadvantage would be legal questions...

In any case an exchange of BTS for CNY shares would be a plus sum game for...
1) ...the BTS givers because a) they receive CNX shares and b) they create more alignment of interests between BTS and CNX holders which is good for them as BTS holders (see above).
2) ...the CNX holders as they can dampen their investment risk. CNX holders have, especially if they are low in BTS, a much higher percentage of all shares in CNX than of all shares in BitShares. An exchange of CNX shares for BTS would distribute the risk of company/startup failure (risk reduced by 50%).
In addition BTS is much more liquid for the foreseeable future than CNX shares. 

Do you agree with the overall goal (aligning incentives)? And what is your opinion on the means of achieving that goal?