Author Topic: Perspective on merger and question regarding PTS/AGS  (Read 1088 times)

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Offline santaclause102

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Here is my take on the merger allocation: We have to separate a few things...

First there is the merger of BTSX, Vote and DNS, this justifies giving Vote and DNS a stake in BTSX which has been done. Sufficiently enough: I don't know but that is hard to evaluate!

Then there is the "merger" of the the proto-ledgers PTS and AGS into BTS. The purpose of this (as I understood BM) is to end PTS and AGS in so far as they woun't have any function anymore. Their function was to be a ledger of early supporters who made the toolkit and everything BitShares possible. There is a social consensus that PTS and AGS should be honored by at least 10% and I3 said they would only support projects that do that. Now the purpose of giving PTS and AGS holders a stake in BTS would be to make the social consensus (incl. the recommendation of I3 to honor BTS with 20%  instead of PTS/AGS with 10% each and the support of projects that do so) is "ported to BTS" as the proto/honoring ledger so that BTS is honored in the future which would imply that I3 reccomends any DAC developer to honor BTS instead of AGS/PTS in the future.
I have not seen such a clear message by I3 yet.

As for how much is justified for AGS/PTS in BTS:
Over the last month PTS had about 10% of the value of BTSX so all future projects honoring PTS where valued at 10% of BTSX. If you take the time since BTSX started this ratio is probably even a bit higher than 10%
Question: Why does PTS (and AGS) only get 7% instead of the 10% suggested by the market's valuations? The reduced liquidity of PTS is accounted for by that non liquidity rule already...

Maybe those questions/requests where answered somewhere else already. I'd be happy if someone could direct me to the respective posts if so.
« Last Edit: October 24, 2014, 09:48:18 am by delulo »