Disclaimer: I am an investor in maidsafe coin, ether and THE DAO tokens.
I open this post separately as I believe it deserves serious consideration from the community and dev team.
It is quite a surprise why no one bring up this idea of making a proposal to THE DAO (the largest cryto investment vehicle ever, with $168m at its command ) and all the focus has been on selling maidsafe in open market(stupidest) or via private sale.
Here is how the proposal to the DAO works:
Maidsafe Foundation loans 10-20m maidsafe coins to Maidsafe Dev team (company)
Maidsafe team to sell ie 5m or 10m maisafe coins to the DAO at a preset price, DAO will pay in ether.
Funds raised will be utilized to develop safenetwork.
THE DAO will make a return from owning maidsafe coin, which is expected to appreciate 5-10x over the next year after alpha launch.
Maidsafe team to repay the Maidsafe Foundation the borrowed maidsafe coins, and those coins(overproduced) are to be burned after repayment.
Why A Proposal to the DAO Makes Sense
DAO has close to 30k token investors and they know the cryto world much better than any VC and most importantly, they are engaging.
DAO desperately needs a for-profit (with high certainty) proposal and this proposal is way better than the slock.it one and I as a DAO investor will certainly vote yes for this proposal.
Publicity, Publicity, Publicity. LISK taking a free ride on ether by rebranding a project(Crypti) with a market cap less than $500k and boost it to over $30m in less than two months. Maidsafe is a more trustworthy and valuable project than LISK and deserves better publicity (Maidsafe dev has a lot to learn from Ethereum)
Interoperability. Ethereum is considering using IPFS for its DAPP storing and I believe safenetwork is a perfect DAPP storing blockchain for ethereum network (a user case) and it will improve value of both networks.
The USN (universal sharing network) which the DAO is focused on would be greatly improved with utilization of Maidsafe as a cloud service. There is some serious synergy about to occur. Imagine if the EC (ethereum computer) being developed by slockit came preloaded with Maidsafe utilities, this could allow the EC to earn both safecoin and eth.
If DAO offer more for the coin than any other private buyer then sure, sell to them if selling the coin has been decided. The supposed technical benefits are separate issues, that can occur without any sale of coin. “Synergy” is a marketing bs buzzword.
As a professional VC investor, I can tell you it is neither easy to conduct a private sale(at this moment) nor easy to convince a VC to invest in a “public utility” project (without a viable public maidsafe network, the Maidsafe Company will also be challenging to secure VC funding, think when Coinbase, Bitpay, Blockstream etc secured their first VC dollar)
Maidsafe will be fine either way. This is actually an opportunity for the DAO more than it is for Maidsafe. Once both projects cut their teeth they will no doubt play well together.
It’s irrelevant how many buyers there are. If DAO’s offer is the best, and selling coin has been decided, then sell to them. But all the “synergy” salesman hypno-jargon is only good for fertilizing ones garden.
yes, indeed, on the contrary, I think salesmanship(or PR) is what maidsafe desperately need at this juncture and Vitalik is a good saleman for Ethereum and never underestimate the importance of that when you want to kick-start such an ambitious project. I never invest in a startup with obvious absence of salesmanship.
You’re counfounding the difference between being a salesman and being a mark (of a salesman).
An example of the former would beMaidsafe practicing salesmanship, defensively. Nothing wrong with that, as long as they can avoid paying huge fees to marketing “consultants.” An example of the latter would be this DAO idea.
I don’t know why you need to pay marketing fee to the DAO, DAO is a block-chain based investment platform and you negotiate whatever terms you want to get and all terms are negotiable. I think there is misunderstanding regarding DAO’s mechanism.
I wasn’t talking about DAO with reference to a marketing fee; it was an allusion to another thread.
My point is that DAO’s mechanism is irrelevant to whether or not to sell any coin to them. If they have a good price then fine, and if not then that’s all that matters.
No this is a terrible idea. Why should the DAO contribute ether to a project that builds Maisafe rather than ethereum? Many ether will be liquidated but there will be no value gained by the DAO in return. Keep them both separate.
yes, I agree, they should only sell at market price, regardless whether to private investors or to the DAO and to be honest, it may be a better idea to just let Maidsafe Inc ask the DAO for funding in exchange with equity or revenue from the Maidsafe Co.
The maidsafe coin borrowing-sale route, will ended up being a very very expensive one (imagine it goes up 5-10x or even 50x, there is no way the deve team will be able to repay those), unless the project totally fails.
take a look at all those DAO proposals, how many are 100% related to Ethereum itself. Maidsafe is still quite relevant to Ethereum as it can serve as its storing layer. There is no preset rules and conditions for proposal, they are all subject to DAO investors’ votes, why not take a try. I, at least for one, will vote yes for this.