VALID had a first #AMA session this week and here’s an excerpt..
Ques: The fund allocation shows 57% allocated to salaries. 14.25 million seems like a lot of money for salaries. How many full time employees will that staff and for how long?
VALID: VALID is a complex and ambitious project requiring significant Research and Development, which is human resources and a team of up to 40+ employees over a 3+ year period. Furthermore, we don’t believe in generously remunerating employees before they have delivered and thus everyone in the company, including management and founders, are paid at the bottom end of the local market range for equivalent positions.
Ques: I read the whitepaper and I see that the marketplace will be commission-free both for the data consumers and the users. Will it stay that way in the future?
VALID: Yes, we envision VALID to be a public good. The only costs on the marketplace will be the blockchain transaction costs, thus making VALID a frictionless platform for the exchange of data.
Ques: If the whole project is 'not for profit', where is the incentive for investors?
VALID: Many of the largest blockchain projects are not-for-profit. In that sense (think NEO, Bitcoin, Ethereum, etc), this status has no effect on the development of the token price. VLD is a utility token, not a security token. As such its value is determined largely by market forces ie. demand (usability and adoption) and supply. The total supply for the token is fixed at 1,000,000,000 and the demand is driven by the utility of the token. The protocol agnostic approach should boost the marketplace and a higher adoption, will lead to an increased demand for VLD. Furthermore, 9% of the crowdsale value shall be held by the foundation and a further 9% is earmarked for employee incentivisation (these 9% come also with a lockup period of 3 years). Thus, increasing token prices are in the interest of the VALID team to finance its operations and develop the platform.
For more information here’s the link: https://www.reddit.com/r/NEO/comments/7ywmua/valid_platform_backed_by_neo_council_keen_to/
VALID Token Sale
With the VALID ITO, Procivis AG seeks to contribute to the development of ITOs as a powerful tool to drive future innovation by building a supporter base of early adopters as well as enabling the allocation of capital for the development of an independent and publicly available platform. Every ITO participant will be required to complete an AML/KYC process, ensuring compliance with FINMA regulation in this respect, and helping to protect the interests of the VALID community.
The VALID token will serve as a medium of exchange on the VALID marketplace, allowing data consumers and digital identity owners (users) to transact seamlessly. In addition to using the token to access services on the marketplace, token holders will be able to exchange the tokens for fiat currency on the secondary market. The long-term demand for the VALID token will depend on the growth and adoption of the VALID platform as well as on the number and types of services that will emerge on the platform over time. While the utility of the token drives the demand, the supply will be capped at 1,000,000,000.
VALID presale sold out in a day raising USD 7,000,000 and VALID crowd sale starts in 2 days. Here are the details:
Token Symbol: VLD
Price: 1 VLD = 0.065 USD
Hardcap: USD 25,000,000
Max Supply: 1,000,000,000
For Sale: 500,000,000
Start Date: 24 Feb 2018
End Date: 17 March 2018
Discounts:
- First 20,000,000 tokens will be sold at 25% discount
- For the first 24 hours of the crowd sale, tokens will be sold at a 20% discount
- Thereafter and for one week, tokens will be sold at a 15% discount
- The second week, tokens will be sold at a 10% discount
- No discount will be granted the final week of the crowd sale
For more information visit
Website: http://www.valid.global/
Whitepaper: https://valid.global/static/valid-wp-2.pdf