The dev sell wall is when we sell chucks of tokens on the open market (exchanges) to raise capital (if for instance, our ico only barely made it over the softcap and we need more funds, or for some major purchase that might come up, emergency legal fees etc).

There are 6 devs working on this project.

While we see the benefit of releasing our identities, imagine the following two scenarios:

1. Before we have secured an attorney, we release our identities. It turns out that something we were doing did not comply with US securities laws or was some kind of SEC/FTC violation. We are forced to return anything we raised (be it 10 eth or 10000 eth). This leaves us at 0 Eth for all the time we spent promoting the ICO and doing marketing (we havent hired anyone for marketing, we do all of this ourselves currently). We may also face civil penalties.

2. We do not reveal our identities before the sale. We raise less eth than we would have (lets say we only raise 100 Eth). While we raised a small amount, compared to scenario one (where we raised nothing and might have been penalized by federal regulatory bodies), we are still 100 Eth ahead. This eth is enough for us to hire an attorney and purchase listing on an exchange. We can always sell tokens through a dev sell wall to raise more money. The product development wont be put on hold since we do not need to hire any developers. Not having marketing wont kill us, since releasing a working product will organically drive buyers to our ERC20 token, and will allow us to raise eth on the secondary market (aka exchanges).

In short, we've weighed the pro's and con's of releasing our identities before hiring legal help, and the cons far outweigh the pros. We dont need funds to BUILD our product, we need funds to PROMOTE it. Building apps is what the entire team is specialized in, so funding or not, it will eventually get done. Not to mention all of us are employed full time, so there are no starving developers living on hopes and dreams on our team :]

If people do not want to trust us, we don't blame them and we do not hold it against them. Just for perspective, people thought EOS was a scam when it was announced.

dev sell wall

Not to mention all of us are employed full time, so there are no starving developers living on hopes and dreams on our team :]

Thanks for the feedback!

The team will most likely be revealed when we finish the presale. Some funds from the presale will be used to hire an attorney on retainer (crypto-attorneys are not cheap unfortunately) who will advise us on if there are any illegalities or caveats which will get us in trouble. We will remediate anything that can be a detriment both to the company and to the team, and then release the team info.

The licensing issue: Our vision is to have both an app and a POS for merchants (the app will obviously not be able to print receipts). We wont necessarily need to license a POS to them. As for why they would use it, there are a few reasons: cost savings (our fee is 1.5% (not finalized) vs Square's 2.75% plus 30 cents, or traditional credit cards which are 3%+) as well as reduced fraud (no chargebacks). In essence, imagine a 1% revenue boost to a large chain like mcdonalds, macys, best buy, or 7-eleven who do millions in sales per day. The numbers (and savings) begin to add up quick.

We keep hearing about getting funding from block.one - we are not against the idea and we will look into it depending on how the ICO goes!

We already have the API on our internal roadmap. We will be building Magento, Shopify, and Wordpress plugins which will run off of our API ;] But making a DEX is an interesting idea, thank you!

Let us know if you have any feedback or criticism, we are always looking for new ideas.

We will be revealing the team at a later date,