RE: ANN Komodo ICO - Zero Knowledge Privacy Secured by Bitcoin
(I'll be re-editing this comment as new details come out)
Thanks JL777, looks promising! Thank you for giving more details about the ICO over at the Komodo Bitcointalk thread (https://bitcointalk.org/index.php?topic=1605144), about Komodo being BitcoinDark (BTCD) 2.0 :)
[Update] Link to more detailed information about the uniquiness of the project and how it fits into the Zcash / Bitcoin ecosystem: https://steemit.com/bitcoin/@komodoplatform/komodo-has-been-born
[Update]
On this BTT post https://bitcointalk.org/index.php?topic=1605144.msg16116386#msg16116386 , the Komodo's official account also stated that holders of BTCD will get the conversion to KMD at the stated rate of 1 BTCD for 0.00532074 plus a seperate revenue share asset .
There are two ways to participate in this ICO.
- Wait till Oct. 15, 2016 and purchase Komodo ICO shares using bitoins.
- Purchase shares of BTCD now which are currently traded on major exchanges like Poloniex and Bittrex. Holder's of BTCD will be able to exchange their shares for Komodo (KMD) and an asset which contains RevenueDividends from the 5% profits of InstantDEX, SuperNET and possibly crypto777.
Valuation discussion of BTCD
Holder's of BTCD will receive two assets, 1) Komodo Shares and 2) Revenue Dividend Shares. There is a stated conversion rate of 1 BTCD for .00532074 BTC on Nov. 20th. Until Oct. 15th this effectively puts in a soft cap / floor on the price of BTCD of 425659 sats (0.00425659 BTC) [ .00425659 BTC * 25% the stated 1st day bonus = .00532074 BTC] if no value is given for the RevShare asset.Links to the Komodo project:
Homepage: https://komodoplatform.com/Steemit Account: https://steemit.com/@komodoplatform
Twitter: https://twitter.com/KomodoPlatform
Slack: http://slackinvite.supernet.org/
Newsletter Signup: https://komodoplatform.com/#top
"BTCD Valuation for the swap
In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. The swapping process will take place after the ICO and detailed information will be posted soon.
If you are a BTCD holder, keep an eye on the BTCD thread (https://bitcointalk.org/index.php?topic=684090.10360). Tomorrow we will post more information there, such as what does this mean for BTCD."
A handy chart was passed along to me.
It lists the theoretical price of what BTCD should be valued at given that you'll be able to convert it over to Komodo, holders of BTCD will also get that Revenue Dividend Asset. As of Sept. 2, 2016, 10:45pm Eastern, the price for BTCD at 383,939 sats, is currently trading at a discount to the value that it will be worth on Oct. 15. As we get closer to the time of the Komodo ICO, BTCD could trade a bit closer and maybe even above the theoretical value because of the inclusion of the Revenue Dividend Asset. It's my understanding that those assets are currently not paying out dividends, but it is a play on the future development of those assets.
Oct. 15 - 25% bonus = 0.00425 BTC/BTCD
Oct. 16-22 - 20% bonus = 0.00443 BTC/BTCD
Oct. 23-29 - 15% bonus = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 - 5% bonus = 0.00506 BTC/BTCD
Nov 13-20 - 0% bonus = 0.00532 BTC/BTCD
The official Komodo account on Steemit recently posted further details of the BTCD / Komodo (KMD) swap: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers -- Please read - it goes into similar analysis along with explaining much more!