There should be an update in the next few days. Usually it's at the end of each month, but Rob had a trip to the US at short notice to discuss Incent with a potential new customer. There's a backlog of things to take care of, so please be patient!

We went through all this up-thread. Ideally we'd draw a line under it all now and move on.

As close to realtime as we can get. This is why we need a reserve, because obviously there are delays in dealing with exchanges - we wouldn't want to withdraw directly from an exchange to the customer's wallet.
It was important to us that the merchant didn't have to deal in Incent. That's a barrier to adoption and we didn't want to impose that on them. So it works by slicing off a % of the purchase amount, sending it to Incent as broker, who takes care of the conversion of funds to INCNT, and then we send that directly to the customer.

Thanks Stein.
There's certainly a lot going on at the moment, and we hope to have a more extensive update for the community in due course.
Re: the comment about Incent being sold to businesses - I'm not sure I understand what you mean? Merchants will not handle Incent. When a customer buys something, a proportion of the purchase amount (configurable - could be 0.5-20%) will be used to buy Incent off the open market. That is sent directly to the customer.
Incent will naturally be a deflationary currency. There's a fixed supply - effectively 23 million - and some will inevitably be lost, forgotten about etc as it's issued and used.

Glad you're in!
I hope it won't go as low as 0.00005 again but with BTC doing its raging bull thing... you never know what's going to happen.

Re: the question of some alts rising and others not while BTC is in a bull run, obviously not all alts are the same. Quite apart from their utility and business plans, some trade more against BTC than fiat - and obviously, the more thinly traded a currency, the bigger the fluctuations. Long term, Incent should effectively trade against fiat, since merchants will be buying and selling it for fiat currencies, which will hopefully insulate it somewhat from bitcoin's madness.

Yep, BTC has certainly contributed in recent days. Can't call where this bull run will end, but presumably when things stabilise with BTC money will move back into alts.
It's likely to be very volatile all round for a while by the look of it.

A few things actually. One is that there was a relationship there already, and so we had access to the dev team - which is a pretty big deal. Another is the DEX, with real-time trading and asset-to-asset trading. Both of these help with settlement. Also paying tx fees in the token itself, rather than a separate coin, is a big deal, because it vastly reduces friction for users and makes life a lot easier when developing the app. We kicked around a lot of ideas and a lot of tech solutions for Incent over the previous 2 years, and these were quite big problems to overcome.

Apologies - don't think the Reserve address is on OP. Looking for it now.

Edit: http://www.wavesgo.com/account.html?3P6u5wdyDQt6FBiwCeSXPuNY3RzCAEYe1cg
Karl has put it in OP.

You can check the Reserve - I think the address is in OP. If not, we can dig it out for you - Karl did so recently for someone who was asking the same
It's a Waves asset, so no smart contracts. Effectively, you have to trust Incent not to dump this on the market. If we did so, it would naturally kill our business, so we won't. Whilst that probably won't reassure some people, you have to bear in mind that trust to some degree is inherent in any business like this. It's centralised, it has a dev team and offices, and a CEO. So you're already trusting us to do a good job if you've invested.
All Incent used for ICO payments (I think a total of 10-12%) for team and other collaborators came from the other half of the initial supply. The Reserve, as you've probably gathered, is for emergency settlement - there may be circumstances where we cannot settle with merchants without that pool of liquidity. We HAVE to be able to do that.
Hopefully that answers your questions - let us know if not!

Not from the total supply. The 23 million Reserve is untouched.

Probably. Draw attention to it and it's going to move up.
Presumably at some point there will be a classic FOMO spike. If it happens fast enough and hits the threshold there will be a cascading short squeeze, which will indeed be epic. Forget the moon, that would be slingshot effect to Jupiter stuff.

https://www.reddit.com/r/Bitcoin/comments/68muot/17k_bitfinex_contracts_short_starting_at_1600_if/

Anyone have any insight on this? Not sure if it would be an epic short squeeze or whether Finex is too disconnected from reality now.

Stamp for USD. Finex obviously is inflated and it doesn't make sense to use a price you can't actually sell at.
Coinfloor for GBP. Strangely prices there are slightly over the odds when converting from USD at the current exchange rate. But since you can really buy and sell real bitcoins for real fiat there, it's a legit price.

That's exceptional progress and a good chance of hitting the cap.

I think 10-12% were reserved for team, partners, etc - I can't remember offhand but it's somewhere in the thread...
The headline figures you give are a little misleading, because BTC was much lower in October/November, when we crowdfunded. So I think the fiat price of tokens was around $0.06 for most people (there were discounts for larger, earlier investors). As often happens with alts, when BTC started rising Incent dropped in BTC terms, staying roughly even in fiat. Then when BTC's rise slowed and we got closer to deployment with the ICOs, Incent rose in BTC terms.
So net: yes, Incent is up perhaps 250% in fiat terms, up a little in BTC terms right now.

I get where you're coming from, but just so you're duly warned: we crowdfunded $1.1 million and distributed 23 million Incent. Anyone who holds any Incent at all might dump it at any point, and the market is thin enough to take it down to zero if someone really wants to.
It's a market. It's a part of the Open Value proposition. It's not cool they did it, but it's their call. Same as it will be with anyone else who sells.
We'll do everything we reasonably can to build value for investors, but we're not in the business of telling people what they can and can't do with their own money.

Good for you. Market fluctuations notwithstanding, there's a lot of good stuff going on.

That is the business model. There's nothing untoward about that. It's a perfectly valid approach and lots of businesses use it. In fact it's becoming the norm in crypto due to the regulatory problems involved with issuing dividends. Just because you got burned with colored coins doesn't mean 'something is off'.

Re: locking Incent for partners - as I said, that's problematic. I guess we could have done for the team, though (unsurprisingly) no one from the team has sold. For the PR company, a lock-up period would have been a dealbreaker. Incent is a crypto startup, a high-risk company in a high-risk sector. Who's to guarantee that the Incent would be worth anything at the end of the lock-up period? We might be confident, but they have bills to pay.
That's not to say we aren't very disappointed in the course of action they took.

Lots of people were paid in Incent for their work on ico. Any one of them could have dumped, and still could, just like anyone else. Most were smarter.
The dump was the first we knew about it, which was also when we shared that information.

That's really not going to fly in a sector like this unfortunately.