Author Topic: Can someone explain why DNS is treated differently?  (Read 3022 times)

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Offline svk

Re: Can someone explain why DNS is treated differently?
« Reply #15 on: October 22, 2014, 04:37:12 pm »
@Bytemaster: I'm generally all for symmetry, but I still fail to see why DNS and VOTE allocations need to be 3% each. It would make far more sense to give 4+2% or 5+1% to take into account the fact that DNS is a live chain with some development progress that has been actively traded for a while, while VOTE at this stage is little more than an idea.

Most of the stakes in those two derive from PTS/AGS, so giving a higher stake to DNS would have the same effect for them, but it would also compensate people who bought DNS because they believed in it.

I can't quite recall the initial distribution of DNS though, maybe it's problematic?
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Offline Ander

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Re: Can someone explain why DNS is treated differently?
« Reply #16 on: October 22, 2014, 04:43:01 pm »
If the price doubled since launch you can't argue that the claimed stake "probably mostly hasn't changed hands".

People who held DNS but sold their PTS should not be treated as PTS holders.

People who bought DNS solely for DNS and who don't care about PTS also exist.

There was clearly some miscommunication because I am super angry at the result...

For sure we will talk when I get to the office today.  I just want to say that I *thought* I was giving a better deal to DNS than what I *thought* Toast and I had discussed.   Obviously, I did not want to piss off Toast or DNS holders.


Well, you didnt.  You instead gave DNS only 50% of its market cap, plus a 2 year lockout. 
(I dont have any DNS.  I am just stating that it was not a fair allocation and DNS should get a bit more).


Almost all of the anger right now is from DNS buyers who lost ~50% of their value, plus face a lockout period.   A little bit of anger from PTS holders, mainly because PTS used to be liquid, and now will be in a lockout period, which makes no sense.

DNS stake should be slightly increased and DNS/PTS should both have no lockout, if you want this deal to be fair and not anger a significant minority of the community.
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Offline bytemaster

Re: Can someone explain why DNS is treated differently?
« Reply #17 on: October 22, 2014, 07:56:02 pm »
If the price doubled since launch you can't argue that the claimed stake "probably mostly hasn't changed hands".

People who held DNS but sold their PTS should not be treated as PTS holders.

People who bought DNS solely for DNS and who don't care about PTS also exist.

There was clearly some miscommunication because I am super angry at the result...

For sure we will talk when I get to the office today.  I just want to say that I *thought* I was giving a better deal to DNS than what I *thought* Toast and I had discussed.   Obviously, I did not want to piss off Toast or DNS holders.


Well, you didnt.  You instead gave DNS only 50% of its market cap, plus a 2 year lockout. 
(I dont have any DNS.  I am just stating that it was not a fair allocation and DNS should get a bit more).


Almost all of the anger right now is from DNS buyers who lost ~50% of their value, plus face a lockout period.   A little bit of anger from PTS holders, mainly because PTS used to be liquid, and now will be in a lockout period, which makes no sense.

DNS stake should be slightly increased and DNS/PTS should both have no lockout, if you want this deal to be fair and not anger a significant minority of the community.

Everyone who claimed their DNS and held it in their own wallet has been given full market value (or more).   Everyone that didn't claim their DNS == PTS holders and AGS holders.

PTS will continue (we didn't take your PTS) you were just given a continuous share drop over the next 2 years which is what PTS was expecting anyway with new DACs being launched every couple of months.   Your liquidity wasn't removed.  You can sell your PTS if you like.

At some point we had to say.. "this is *our last DAC*" and when we said that PTS holders would have to make a choice. 
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