Angleshares value in PTS: 2.133 AGS/PTS = 9.50 USD. Total donations today: 2,343.996 PTS = 47,770.64 USD.
Angleshares value in BTC: 80.825 AGS/BTC = 9.28 USD. Total donations today: 61.862 BTC = 46,693.44 USD.
That's a total funding of 94,464.08 USD on day one! Good job!
Folks who moved from PTS/BTC to AGS today more than doubled their stake in BitShares and subsequent DACs.
I wonder how long that deal will hold up...
"...And we're goin' to Surf City, 'cause it's two to one"
I thought AngelShares was for BitShares allocation only.
And there will be a new AngelShares for other DACs.
Is this AGS funding round for all future DACs by Invictus.
How will Invictus fund other DACs if the AGS promise is all used up?
(The bountiful bounties thread looks very exciting, but if AGS is only a once off thing, I dont see where future funding will come from).
AngelShares builds the infrastructure on which many new DACs may be built. That includes a development toolkit, support software, documentation, standards, industry promotion, glossy web sites, tutorial videos, legal theory, DAC incubation, etc. The foundation is complete by definition
when AngelShares funds run out.
Then each DAC builds on top of that foundation and hopefully honors the people who contributed to make it possible. Our first BitShares DAC already had its own funding so there was no need to raise special-purpose funds for it. Future DACs, however, might be expected to raise whatever funding is necessary to layer functionality on top of
the AngelShares foundation. One way might be to allocate a third 10% (or more) for specific "DACshares" that allow people to invest in a single DAC the way AngelShares allows investment in the overall DAC industry.
Our web site sums it up this way:
Both ProtoShares and AngelShares rely upon the willingness of developers to honor those contributions with shares in the DACs they develop. We expect a Social Consensus to form in the marketplace about what constitutes honorable developer behavior. ProtoShares and AngelShares constitute concrete documentation of what benefits developers received from those who laid the industry foundation. Shares in individual DACs are concrete way for developers to acknowledge and reciprocate those benefits. How the market responds to a new DAC will depend upon how well that DAC is perceived to have honored the emerging Social Consensus.
We see a consensus beginning to form around the following principles: (a) Developers should seek a reasonable balance between equal-opportunity lotteries and ways to compensate those who sacrifice their savings or labor. (b) The market needs to give developers freedom to raise funds to develop, support and promote their new DACs. We believe that the following allocation represents the minimum fair genesis allocation.
10% of the crypto-equity should be allocated to holders of ProtoShares.
10% of the crypto-equity should be allocated to holders of AngelShares.
80% of the crypto-equity should be customized to the needs of each DAC.
In the case of the first BitShares DAC, since it had its own funding, we decided to just let holders of ProtoShares and AngelShares be the official distributors of BitShares to future users of the system with 50% of the total shares each. Somebody always winds up in that role anyway, why not let it be the people who donated time, talent, and energy to build the industry? That should be plenty decentralized and fair to future newcomers.
Other DACs will experiment with other approaches, no doubt.