Author Topic: [ANN] Introducing Kexcoin - BitShares Powered Real Estate Crowd Funding Project  (Read 6432 times)

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Offline MarketingMonk

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Kexcoin is a user issued asset on the BitShares network.

We selected BitShares as the platform to power this project due to the processing speed and the built in exchange, two features that will make the user experience smooth.

Kexcoins are cryptocurrency tokens that will be sold to participants in our crowdfund on 15th September 2017.
The funds we raise will then be used to buy investment properties in the student accommodation market, a market that brings reliable returns.

Using the rental profits from the properties we buy, we will begin a process of buying back Kexcoins and burning them. This will have the affect of making Kexcoin increasingly scarce and naturally more valuable.

If you are familiar with the OBITS project this is the model they originally adopted.

Our vision is to build a new funding network through the use of the blockchain, making it available for almost anyone in the world to participate, in any amount, large or small.

We are unique in the business as we are already supported by an existing infrastructure. Kexgill, an associated company to Kexcoin has been investing and growing their European portfolio for almost 39 years.

With an experienced team, they are an award winning student provider, owning almost 3,250 beds throughout the UK and 360 multi-family apartments in Germany.





Key Information

When will the ICO be launched?
You can place buy orders now for fulfilment at 15:00 UTC 15th September 2017

How long will they be on sale?
30 days (15 September 2017 – 14 October 2017) or until we sell out, which ever comes sooner.

How many are being sold?
8,500,000 KEXCOIN

What is the rate/value they will be sold at?
0.0025 BTC = 1 KEXCOIN

How to connect with us
You can get in touch with us via Facebook, Twitter, Telegram, Bitcoin Forum, Bitshares Forum.

How will participants benefit?
Once per quarter on a pre-announced date, we will take 50% of the net profits generated by the rental income from the properties and use it to buy back as many KexCoins as we can.

Participants will be able to offer their KexCoins for sale on the market and we will buy them back starting with the cheapest first.

Once the buyback budget has been exhausted, all KexCoins purchased within that budget will be permanently burned. This reduces the total remaining supply and increases the scarcity of the coins that remain, thus inflating the price.

The remaining 50% net profits will be reinvested in further investment property to speed up the buyback process.

What does the KexCoin team get out of this?
10m KexCoins have been created. This is the total number that will ever exist.
10% of this amount (1m KexCoins) will be retained for the core team.
An additional 5% (500k KexCoins) will be retained for contingencies.

The remaining 85% (8.5m KexCoins) will be sold to participants during the token sale.
In order for the KexCoin team to profit, KexCoins must be worth something. This will only happen if the project is a success.

When a core team member wishes to take some profit, they would have to sell their coins on the market in exchange for Bitcoin in the same way as an ICO participant does. The core team are not allowed to sell or trade their Kexcoin for a 1 year period after the ICO.

What happens if you don't sell all the coins during the ICO?
Any coins that are left unsold when the crowd funding period closes will be immediately and publicly burned.

Useful Links

Website
https://kexcoin.com/

Whitepaper
https://kexcoin.com/wp-content/uploads/KexCoin-Whitepaper-Final-10-08-2017.pdf

Step-by-step guide to participate
https://kexcoin.com/wp-content/uploads/How-To-Buy-KexCoins-Step-By-Step-Guide-v1.04.pdf
« Last Edit: August 17, 2017, 06:48:42 pm by MarketingMonk »

Offline yvv

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Are you going to use the same flawed buyback model as OBITS uses? OBITS is traded below the ICO price and it falls more and more. Please do something to guarantee that investors will be able to sell their tokens at at least ICO price. Set a price floor for buybacks or something like that.

Offline MarketingMonk

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The price falls when tokens holders are willing to sell for lower and lower prices.
The way to guarantee a profit is to hold until the price is above the price you paid.

This is the same for any cryptocurrency you buy. The difference here is that, as long as the properties are rented out, there is a consistent flow of new demand coming into the market combined with an ever decreasing supply of coins.

Offline yvv

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The way to guarantee a profit is to hold until the price is above the price you paid.

Which means that you buy a token and watch how its price goes down forever, like OBITS. Thanks, leave your shit tokens to yourself.

Offline lafona

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Cool Project, I think this is an excellent use case for bitshares tech. Also I personally prefer the buyback mechanism as it is more favorable for taxes here in the US.
BTS Witnesses: delegate-1.lafona     Witness Thread: https://bitsharestalk.org/index.php/topic,21569.msg280911/topicseen.html#msg280911
MUSE Witness: delegate-1.lafona

Offline pc

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This announcement is lacking so much essential information that I can only advise everybody to take extra care in applying their due diligence.
Please vote for my BitShares witness "cyrano" and for my STEEM witness "cyrano.witness"!
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline fav

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Cool Project, I think this is an excellent use case for bitshares tech. Also I personally prefer the buyback mechanism as it is more favorable for taxes here in the US.

yup nothing wrong with buyback and  burn.

This announcement is lacking so much essential information that I can only advise everybody to take extra care in applying their due diligence.

? it's an ANN, there are links to website and whitepaper.

what's up with the hostility here?
► How-to Buy BitShares: https://goo.gl/i9j2YZ

Offline edward freeman

Great Job MarketingMonk!
I like the project, great idea...
KexCoin

It is true that OBITS price is interesting to say the least...  how do you say low
What is possible for OBITS, increased price, increased volume, increased availability, monthly share-drops...
OBITS...  its a good thing

I am heading-up a Project to develop the Java Trading/Wallet client for the HEAT platform  based community-crypto-union project to provide crypto-banking to the more than 2 billion un-banked in the world today...

freemanfinicum.github.io

Offline yvv

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yup nothing wrong with buyback and  burn

There is no problem with buybacks. The problem is that they set it up such a way, that they are able to buy their tokens back cheaper than they sold them during ICO, which means that you will not be able to sell them at higher price than you bought. Same as OBITS. And there is no way to control how much will they buy back from themselves, driving the price down.

Quote
The way to guarantee a profit is to hold until the price is above the price you paid.

Bullshit! The only way to guarantee a profit is to stay away from this scam.
« Last Edit: August 16, 2017, 11:04:53 am by yvv »

Offline paliboy

The problem is that they set it up such a way, that they are able to buy their tokens back cheaper than they sold them during ICO, which means that you will not be able to sell them at higher price than you bought. Same as OBITS. And there is no way to control how much will they buy back from themselves, driving the price down.

It's in shareholder's best interest if a company buys back cheap. The real problem is the later point you mentioned... they will own some tokens so they can buy back from themselves.

Offline yvv

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It's in shareholder's best interest if a company buys back cheap.

No, it is not. If they buy cheap, this means that you will sell cheap. How is it in your interest?

Quote
The real problem is the later point you mentioned... they will own some tokens so they can buy back from themselves.

Yes, they leave 15% to themselves and who knows how much more will they buy from themselves during ICO. They leave themselves a HUGE spaces for all kind of manipulations.

Offline paliboy


It's in shareholder's best interest if a company buys back cheap.
No, it is not. If they buy cheap, this means that you will sell cheap. How is it in your interest?
Quote

It depends on whether you are a short-term or long-term shareholder (some call them speculator vs investor).

Offline yvv

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For those who have not enough brains to distinguish between good buybacks and bad buybacks here is a little example: bitAssets also use buyback and burn model. But guess what is the difference? Tip: bitAsset investors are protected by forced settlement and they are guaranteed to sell their tokens at face value no matter what current market price is.

What is offered here is a bullshit. Investors are tricked into a guaranteed loss. No, people, you have to buy back your tokens at no less than you sell them during ICO. I don't know how to do this, it's your job to come up with a way. Until then  you may stick your tokens into your butt.

Offline pc

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This announcement is lacking so much essential information that I can only advise everybody to take extra care in applying their due diligence.

? it's an ANN, there are links to website and whitepaper.

what's up with the hostility here?

Why do you sense hostility when I'm only advising caution? :-)

Neither the website nor the whitepaper provide important facts.

For example, what's the legal/jurisdictional framework for this ICO?
Where is the business plan? (Hint: the whitepaper is not it.)
What prevents them from paying themselves high salaries, eating up any potential profits?
What prevents them from selling their 10% of the $80M they'll be raising after 1 year and leaving the company? (Hint: in real estate you can usually assume ROI after 15-20 years!)
How soon do they plan to raise any profits? (Hint: How long does it take to buy and let houses worth $80M?)
Please vote for my BitShares witness "cyrano" and for my STEEM witness "cyrano.witness"!
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline kexcoin

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What important facts are missing and what would you like to know? I'm happy to explain?

1) We are based in the UK and governed by UK law
2) We have been successfully providing student accommodation for almost 40 years (winning multiple awards) why would we need a business plan now?
3) Why would we leave the company after 1 year? The idea it to build up the company to generate more profits and increase the size of the portfolio? The company is the value not the Kexcoin that we receive in payment for many, many, years of work?
4) The core team get 10% (prorata) of the funds raised not 15% and nothing else. No salaries for the full time. If anything it's too little.
5) We aim to be as transparent as possible and everything will be accounted for and audited for public viewing. We will be using a well known international firm for this.
6) We expect the first buyback to be performed in 3-6 months.
7) I'm unsure why it's a flawed buy back or why the price would go down? As we buy back and destroy the Kexcoin they become more finite? With regular buybacks from regular profits we expect the price to increase. As you know you can set your sell orders on the exchange at higher prices and wait for them to be filled.

Let me know what you want to know and I'll provide what I can.