My question is - will the floating supply of VERI tokens only ever be about 1 million or about 1% of total supply?
This is about the amount that was issued in the ICO to my knowledge - about 35K ether at 30-1 out of 100 million supply.
My understanding is that the rest of the supply will be sold to institutions directly. Those tokens will then be used by said institutions to purchase research or run smart contracts and not released onto exchanges.
The reason an institution may use an exchange would be to either
1) Sell some tokens because they no longer find them to be useful (bad sign)
2) Buy tokens if they are trading below price of buying directly (which would take additional supply off the market)
Is this logic correct? Any thoughts?
We sold many more than you quoted, closer to 60k eth or more. We need a large supply of tokens. Remember, they are appcoins and utility software, and a dearth of token supply would lead to an inoperable machine. We have been talking to chains of medical practices, caribbean governments, private equity and hedge funds in a move to get them to trade value via Veritas. Each institution that adopts Veritas raises the value of the ecosystem X times, thereby injecting value into each Veritas. We will not attempt to artificially limit the supply to give an appearance of increased demand. That's scammy. Much more money is to be made by actually increasing value through demand sourced from true problem being solved
Until liquidity improves, most institutions would rather source large blocks OTC than go through an exchange.
I didn't mean to imply any sort of impropriety regarding the supply of tokens. I'm just trying to understand what the ecosystem and liquidity environment will look like for the individual early adopter, who likely won't actually be using the tokens in the same way as institutions.
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