Author Topic: Proposed Allocation for Merger  (Read 49345 times)

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Offline Ander

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Keep in mind that the "so-called" market cap on DNS and PTS is a very thin market and you are being moved to a much deeper market.  Someone looking to sell 1% of PTS would push down the price much further and thus get much less than the market cap suggests... moving them into BTSX and selling the same amount would move the price less.

It is complicated, and I don't think that anything is going to be fair to everyone.

Yes I agree that the percentages are fair.  I just think they shouldnt be subjected to a lockout, given that they are already liquid.
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sumantso

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In short - sell everything, buy BTSX.

Still trying to calculate if I am gaining or losing overall. If I had my PTS and DNS on exchange would've sold them now :-\

Offline bytemaster

A tip to anyone with PTS or DNS on exchanges (bt38 or bter):  Based on this proposed allocation, and prices right now (BTSX 6100 sat, PTS 6600 sat, DNS 200 sat), you should sell your PTS and DNS, and buy BTSX. 

I did this already.  You'll get slightly more shares in the new BTS if you do this fast before prices adjust.

Obviously, if DNS and PTS fall and BTSX rises, youll need to do some math to see if this is still the case.

Keep in mind that the "so-called" market cap on DNS and PTS is a very thin market and you are being moved to a much deeper market.  Someone looking to sell 1% of PTS would push down the price much further and thus get much less than the market cap suggests... moving them into BTSX and selling the same amount would move the price less.

It is complicated, and I don't think that anything is going to be fair to everyone. 
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Offline pariah99

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Does the 2 year vesting period include all of the currencies, or just the diluents? (i.e. everything or just AGS/PTS/DNS/VOTE)

Offline Ander

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I think that PTS and DNS should have no lockout period.  Right now, you can already sell them on the exchange.  It is unfair to lock out holders of these shares, who were already liquid at the time of the announcement.  Like, you can literally go dump them RIGHT NOW, and then not face a lockout.   (Note: I already dumped mine and bought BTSX with it, so this doesnt effect me.  But it effects others and I want to push for fairness).


I think the lockout period for AGS and VOTE shares should be 6 months.  2 years is an eternity. 
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Offline oco101

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Meh ...10% dilution , this is to much I'll go lower and hard forke latter if need it. If not I agree with the distribution, 2 year it is a bit to much though but that alright by me.

Please once the final decision is taken clearly announced what shareholder should do. I.E There a lot of unclaimed Btsx right now, should everybody claimed it before Novembre ?  How about the Founders the deadline was November 30 etc does this change anything ?

Offline feedthemcake

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Everyone should make sure they read the title post...

**Proposed**

Offline Ander

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A tip to anyone with PTS or DNS on exchanges (bt38 or bter):  Based on this proposed allocation, and prices right now (BTSX 6100 sat, PTS 6600 sat, DNS 200 sat), you should sell your PTS and DNS, and buy BTSX. 

I did this already.  You'll get slightly more shares in the new BTS if you do this fast before prices adjust.

Obviously, if DNS and PTS fall and BTSX rises, youll need to do some math to see if this is still the case.
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Offline biophil

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The above allocation grants this many BTS to each of the stakeholder DACs:

99 BTS per PTS
87.5 BTS per AGS
0.015 BTS per DNS (i.e.: sell now before your stake is worthless)
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Offline Shentist

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The long lockout period seems fair for AGS and even perhaps PTS, but I think the VOTE and DNS crowd were expecting liquidity sooner. Would it be too confusing to put the VOTE and DNS allocations on a shorter liquidity schedule, like perhaps 6 months?

I agree, DNS should have a shorter period.... perhaps 6 months.

disagree - why should be a lock up at all in DNS and PTS i can already sell and buy them and i totally regret to bought DNS on the exchange.

Offline bytemaster

Bytemaster, the 2-year vesting period is not good--it's too restrictive and will unnecessarily harm everyone by imposing more risk on people's portfolios. Also, AGS, PTS should get 10% each as they don't have a seat at the negotiating table.

Considering Vote + DNS are mostly AGS/PTS and the snapshot is relatively recent they get an effective ~10%

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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

The long lockout period seems fair for AGS and even perhaps PTS, but I think the VOTE and DNS crowd were expecting liquidity sooner. Would it be too confusing to put the VOTE and DNS allocations on a shorter liquidity schedule, like perhaps 6 months?

I agree, DNS should have a shorter period.... perhaps 6 months.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

3% VOTE
3% DNS
7% PTS
7% AGS
80% BTSX

So, to recap: there will be 2.5 billion BTS. 3% of these are allocated to DNS, that's 75 million BTS. The initial allocation of DNS granted 10% to toast, that's 7.5 million BTS or about 200.000 USD at current price. IOW toast will receive 200k USD for bringing the DNS chain to the point where it is now, which is little more than an initial clone of the bitshares toolkit?

And you call that a "merger" and "capital infusion"? Oh boy.

Toast will not be including his developer grant.
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Offline muse-umum

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3% for dns ?
2 years vesting period ?
can someone please tell me it’s a joke ?

Offline CryptoPrometheus

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The long lockout period seems fair for AGS and even perhaps PTS, but I think the VOTE and DNS crowd were expecting liquidity sooner. Would it be too confusing to put the VOTE and DNS allocations on a shorter liquidity schedule, like perhaps 6 months?
"Power and law are not synonymous. In fact, they are often in opposition and irreconcilable."
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