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Will Komodo distribute its future BYTE holdings to the investors?

Audo shared this question 3 years ago
Need Answer

(Moved to http://support.supernet.org/topic/will-komodo-distribute-its-future-byte-holdings-to-the-investors)


Hey Komodo team, I have seen JL777 in Byteball thread and would like to ask, what do you guys plan to do with Byteballs. ICO account of KOMODO will surely get some nice chunk of Byteball. Is there any chance that you would distribute BYTE to ICO participants? It would be win win situation as some people might not invest in ICO because of BYTE distribution.

Comments (2)

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jl777 responded:


No promises, but if the max is raised, then it is much more likely to happen. My thinking is that if not enough is raised, then we would need extra income. But in the max raise scenario, it wont be needed.


Also, timeframe would need to be as a background priority and it cant take away from komodo development

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We want to finish our platform and all the things we are building on top. To make sure that happens we want to get all the funding we can get. There are a lot of uncertainty still, as KMD is not even trading and we have promised a minimum revenue for these expensive notary nodes.


During the ICO jl777 was asked what we do with the byteballs we get. The answer was that we very well could distribute them to investors in a high end scenario where we raise 5000 - 10 000 BTC. We raised 2600 BTC and thus we will keep the byteballs as an investment.


The SuperNET organization has been here a long time, and its history has invelved a lot of up & downs. A lot of our capital was in NXT, which has lost a lot of value. Basically the development has continued under bear market conditions, and yet we are here! And through this whole time we have stayed loyal to our investors, and we will continue to do so.


We are really happy what we got during the ICO, and it is enough to make our vision happen. With more funding we could have hired more people though, so if these byteballs become worth something we could increase our burn-rate and get faster development. Right now we are working with what we got, and we will continue to operate under a strict budget that will ensure development long into the future.