Invictus has sparked something great here, and it's time to incentivize others within and from outside the community to really get their hands dirty creating some of the first DACs that look at problems beyond making a market as Bitshares does. There are dozens of great ideas bouncing around this forum, but lacking a good example to follow few are willing to jump in.
Angelshares has been a wildly successful fundraising effort, these funds are being put to use but the bottleneck in the sitaution is clearly Invictus.
Invictus recently allocated 10,000 PTS for use in their internal marketing budget
- This represents one of the largest single expenditures to date, but just a fraction (less than 1%) of Invictus's PTS holdings. I believe this is the appropriate amount to offer for the first DAC that meets the following goals
- It Honors the Social Contract and grants at least 10% to both Angelshares and Protoshares holders
- It conforms to the characteristics of a true DAC, it must be Autonomous and it must be Decentralized
- It survives for at least six months
and the thing that makes it uniquely Invictus
- It is the most profitable for the token holders compared to other models over a three month time horizon
Obviously this is a long term bounty, but just announcing such a thing help people understand why they would actually want to hold PTS because there will obviously be people building these things, competing for the large prize. Even at current valuations, that's over 100BTC.
Because the prize is being awarded in fixed amount of a currency (PTS) that gains value based on people speculating on its future value, by the time you finally pay out the prize it should be ENORMOUS. And because the tokens are fungible, you will have inadvertently dragged everybody who is holding protoshares value up along with it.
I do not believe Bitshares or any derivatives should be included in this contest, but I have no problem with other invictus products being in the race since competition causes all players to up their game.
This is the right thing to do, and I believe the community at large should be behind this. Please post any comments or questions