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Author Topic: [ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex  (Read 469527 times)
GiovanniDiCosimo
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March 07, 2017, 08:43:56 PM
 #3281

In short: TOKES is on hold until payment is received/escrowed.

they wan't pay

Quote
mwagner_tokes [10:30 AM]
I'll be making some public statements soon. The essence is that we had a phone call yesterday to discuss wrapping up the remaining distributions, along with the balance of the reserve account. In addition to an initial 5btc payment to them, and a 3 btc escrow payment, we had initially discussed a 5btc closing payment. However, given their negligence in execution on our token sale, I sought to negotiate different terms on that final payment

[10:31]
If you invested with us, you're quite familiar with some of the inadequacies of their ICO portal and the execution of the distribution

[10:32]
We will be recreating the asset on waves, with the same name, but under a new asset ID. Waves was designed to do this natively, and in fact it is possible to create duplicates of any asset on the chain.

[10:33]
We have the database of investor transactions, so we'll be re-issuing the new asset to our investors as an immediate priority

[10:33]
Any and all future exchange listings will be based on the new asset ID

Its really frustrating for me. Why not try reasoning with this very first partnered with Incent project?

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March 07, 2017, 09:05:17 PM
 #3282

Hello everyone,

It saddens me that I'm here posting this reply. For those of you who don't know me, I'm Michael Wagner, founder of the Tokes Platform. I would have preferred for Rob and I to navigate this conversation privately, but as the Incent team has announced a 'discontinuation of support' for our ICO distribution, I'm compelled to provide a response.

For some background, the terms of our MOA included a 5BTC deposit up front, 5BTC closing payment, and 2% of total funds raised as a share of revenue. In return, we were to receive a functional investment management backend portal along with a component of technical support for our users. We made payments on the initial deposit, as well as an interim payment based on funds raised (~1.8BTC). If you were a participant in our ICO, you can attest to the fact that the execution of distribution of tokes proceeds left a lot to be desired, and in fact was never officially completed. Our ICO closed on January 15th, and our investors are still waiting on distributions to be processed by their team.


For additional context, this is the email message I sent to Rob and Peter following our call earlier in the evening. Please note that this went out at 8:05PM PST, and the 'discontinuation of support' post was released in the early hours of the morning, without having any additional communication with me.

Quote
From: Michael Wagner [mailto:michael@tokesplatform.org]
Sent: Monday, March 6, 2017 8:05 PM
To: 'Rob Wilson' <rob@bitscan.co>
Cc: 'Peter Godbolt' <peter@incentloyalty.com>; gabriel@tokesplatform.org; jon@tokesplatform.org; 'Minh Tran' <minh@tokesplatform.org>
Subject: RE: bounties etc.

Rob,

Following up from our call, a few of the areas we see as being inadequate performance, in no particular order:

•   Email support system never worked (i.e. password resets and other contact requests)
•   Referral system and bonuses were non-functional
•   Numerous API outages and incorrect reporting for both Waves and BTC
•   Site outages on several occasions, notably on the day of our promotional sale
•   Incorrect time periods being reported for phases of ICO – countdown timer hitting zero then counting upwards
•   Incorrect reporting amount for distribution, causing numerous man-hours spent manually calculating accurate amounts to demonstrate to participants
•   Long delay between time in which we approved initial token release and actual distribution (somewhere around 2 weeks)
•   Long delay on distribution of approved bounty spreadsheet
•   Incomplete backend reporting functionality (fields missing data)
•   Communication dropping off for 1-2 weeks at a time, despite emails, at the most critical time of our ICO distribution
•   Incent bonuses did not go out

The rest of my team might have additional items to add… As I said on the phone, I’d really like for us to come to some terms amiably. I do think there is some opportunity for us to generate value for and with each other in the future. I can be flexible with some form of payment via tokes. I hope you’ll take these items under consideration, along with the revenue you generated relative to both service provided and total funds raised by the ICO. I’ll be available for a follow-up call after you’ve thought this over.

Best,

Michael Wagner
Founder
Tokes Platform / Cannabis Revolution

While I made an appeal to them regarding the payment amount to them proportional to funds raised, this is not about us 'not raising enough money'. This is about inadequate execution of their side of the agreement.


An earlier attempt to communicate with Incent at the beginning of February:

Quote
From: Michael Wagner [mailto:michael@tokesplatform.org]
Sent: Monday, February 6, 2017 12:23 PM
To: 'Peter Godbolt' <peter@bitscan.co>; 'Rob Wilson' <rob@bitscan.co>
Cc: gabriel@tokesplatform.org; jon@tokesplatform.org
Subject: ICO and Bounty Distributions

Gentleman,

Hope all finds you well following the weekend. As we near completion on the Tokes ICO, I just wanted to follow up on a few final details…

1.   Jon has completed the reconciliation for bounty distributions and prepared a spreadsheet with waves wallet addresses and their respective payouts, which I’ve attached. Please let me know if you still plan on adding these payouts to the remaining distributions or if we should process manually.

2.   Remaining investor distributions…not surprisingly, a few members of the community are getting a bit restless about receiving their tokes. I understand that you’re being methodical with the distro, but just wanted to get an idea of when all members with withdrawal addresses will receive their full payouts?

3.   Tokes Reserve Address: given that the majority of ICO payments have gone out, you should be able to process the tokes reserve distribution. You can retain some units as necessary to ensure complete distro, but ~95% of the reserve can be sent to: 3P5WW7ebPaZF5NXDm1ZZYmrbgFm784tsRPw

4.   Per my communications with Fran, we’ve released escrow including the 2% payment due to Incent. I can pull transaction details if needed, but you should have received that payment late last week.

5.   Incent bonus: several members have inquired about the 1% incent bonus to be paid to ICO investors. I assume those will be going out along with the final tokes distributions, or should we be preparing for a different scenario?

6.   Customer testament: I’m sure you’re eager to further promote the ICO technology. Per our earlier conversation, I’m happy to write up a customer statement for you, pending completion on the remaining items above.


I think that just about covers everything from our end. Looking forward to getting everything wrapped up from an ICO perspective, and potentially continuing the conversation regarding POS development. I’ve loosely discussed this with Peter, but we might have an opportunity to jointly develop a mobile app and point-of-sale system, as our projects have some overlapping interest in that technology. In any case, look forward to hearing back.

Best,
Michael


In essence, we paid for a product we thought was robust and complete from individuals we felt were professional. What we received was complete garbage. It would be irresponsible from both a company perspective, and in considering the impact on our investors, for me to relegate additional funds from our operating capital to pay a non-performing contract. I would caution anyone considering the use of Incent ICO technology to strongly reconsider the other options currently available in the ecosystem. If the Tokes team did anything wrong, it was engaging with Incent on this feature.


Given the fact that we are terminating our relationship with Incent, I don't feel that the Incent ANN thread is the most appropriate channel to continue this conversation. If you were a Tokes investor, or have interest in our project, I encourage you to join us in slack (you can register at: https://tokes-slack.herokuapp.com/ and join us at http://tokesplatform.slack.com).


For those who invested in Tokes Platform, know that we will be making you whole through the issuance of a new asset on Waves, with the name Tokes, but under a new asset ID. Any exchange listings will be based on that new asset ID. The members in our slack channel have requested that the initial 1% Incent bonus that was offered be replaced with a 1% Tokes bonus, which we will honor. Feel free to reach me direct at michael@tokesplatform.org. Bear in mind that we might be inundated with emails initially, so please bear with me on response time. I'll begin processing the replacement asset today.

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March 07, 2017, 09:30:05 PM
 #3283

Incidentally, for those traders who haven't been keeping an eye on such things, the decision on the first bitcoin ETF is due by Saturday at the latest. That will inevitably have an impact on bitcoin prices, and alts by implication.
Goodness knows which way it will go, but I'd expect volatility in both BTC and alts/Incent to result whatever happens.

the 'problem' in our case will be if BTC goes up tooooo much because the alcoins will drooooop down, more. can't wait to see the WAVES echanger  Sad Sad
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March 07, 2017, 09:52:14 PM
 #3284

Michael,

To be clear, the very first time you expressed any discontent to me whatsoever, with either our product or our support was yesterday, during a call in which you asked that we accept settlement in Tokes 'because you hadn't raised what you had hoped'. The inference being that we should share the impact of an aspect of your ICO for which we had no responsibility.

Settlement in Tokes is not acceptable to me because it is not what we agreed in our MOA - since which we have enabled your ICO with IP, server and technical support, to the best of our ability, over an extended period, in the best of faith.

Since you are not, after the fact, prepared to settle on what we agreed, I am not happy to continue to expend our finite resources in supporting you. This should not surprise you.

Notwithstanding, if I understand your post correctly, you now intend to re-issue the Tokes asset from scratch. This strikes me as nuts and doing so will distract your team and burn your community.

While I have my own view on your behaviour in this matter, I'm entirely happy to forward all remaining Tokes to an address of your nomination.

Sincerely,

Rob W.
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March 08, 2017, 10:35:34 AM
 #3285

Incidentally, for those traders who haven't been keeping an eye on such things, the decision on the first bitcoin ETF is due by Saturday at the latest. That will inevitably have an impact on bitcoin prices, and alts by implication.
Goodness knows which way it will go, but I'd expect volatility in both BTC and alts/Incent to result whatever happens.

So approved or not? As far as we know, there is still nothing decided and most likely ETF will not approve. Do you have any data that this happened?
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March 08, 2017, 10:53:57 AM
 #3286

Incidentally, for those traders who haven't been keeping an eye on such things, the decision on the first bitcoin ETF is due by Saturday at the latest. That will inevitably have an impact on bitcoin prices, and alts by implication.
Goodness knows which way it will go, but I'd expect volatility in both BTC and alts/Incent to result whatever happens.

So approved or not? As far as we know, there is still nothing decided and most likely ETF will not approve. Do you have any data that this happened?

This article seemed to be positive that the ETF will pass based on two things
https://www.cryptocoinsnews.com/bitcoin-etf-headed-default-approval/

1. The application would be retracted by now for reconsideration if it looked like it was going to be turned down 2. If no decision is reached by the deadline it is automatically approved - like a default setting. Having said that it goes against what mainstream fintech press is saying is likely.
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March 08, 2017, 05:17:10 PM
 #3287

Can INCENT dev complete the distribution of TOKES asap? Everytime tokes dev refer us to incent for delaying tokes distribution.
It would be nice if you say something like when your'e going to distribute all tokes?
Thank you

I will pass it on. Just to check, have you put your Waves address in the ICO area?

I've just checked. Support for Tokes has been suspended.
There was an MOA with Tokes to pay 5 BTC for the service Incent offered. They are refusing to honour this due to their raise being less than they expected.
Obviously this is not our responsibility. Until it is resolved all support is on hold.
I'd suggest that you take this up with Tokes in the meantime.

but this is about the +plus they were offering to eary buyers (as incent tokens)? or the TOKES tokens which are the actual coin? Huh
It's basically about all the work still to be done from our side. We are more than happy to fulfill our obligations but that requires TOKES to fulfill their part of the deal.

In short: TOKES is on hold until payment is received/escrowed.

All I see is incompetence on the part of Incent. I invested in both Incent and TOKES. First the "fantastic platform" Incent built crashed every other day. You provided poor support when you were contacted for help by users / participants. You overpaid a bunch of investors and asked for the Incent back post ICO.

You should be bending over backwards to the Tokes guys for selling them on a crappy ICO platform rather than pointing fingers.

The audacity of all this is unfathomable.


Not really. We are creating a platform and ecosystem and were quite transparent about what it involved and our timelines. Perhaps you didn't read the white paper or website?
It is necessary for us to trade on exchanges ahead of merchant integration to establish a market price before that buy pressure comes in. Besides, the community clamoured for Incent to be added to exchanges. Read back through the post history if you're in any doubt.
If you're upset that the market has treated Incent unfavourably when we're pre-launch (no merchant demand) and bitcoin is spiking, that is unfortunate but beyond our control. If you weren't prepared to wait until launch, you shouldn't have invested. We have always been crystal clear about where the return on investment would come from, and it's not burning the funds we collected. That is the very definition of a ponzi.
As for Tokes, there was an agreement there too. They didn't honour it. Take it up with them.


I think you're misunderstanding me. I'm talking about the ICO platform. I'm quite familiar with the long term vision of Incent and it's one of the reasons I put a decent amount into the ICO. I really don't even care about the current price.

I'm specifically talking about the quality of the software provided to do the ICO and the poor support Peter provided during the Tokes ICO. You contracted to provide an ICO platform that worked and almost nothing did. Look at the backscroll in the Tokes Slack, I'd be happy to provide the logs of my my less than useful chats with Peter. To say you met your obligations is an overstatement. I work in enterprise software and if we even screwed up even 10% of what you did, we'd have the whole engineering team living with the customer till it was right.

Don't take on projects you don't have time to do right.

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March 09, 2017, 12:58:19 AM
 #3288

This reply was for two of your posts. Regardless, see the response above from Rob.
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March 09, 2017, 09:19:06 AM
 #3289

Stop lying to people!!!  >:(You have done nothing but empty statements. Raised money? WHERE ARE THE RESULTS???The builders of the pyramids... THEIR STRATEGIES leave deaf grandmother. Talkers and scammers.

I'll also be honest I feel like this was a scam coin. I invested in the ICO but even today I still have not received my tokens even though I've posted a WAVES address as advised. Today I see the ICO site is no longer available on the Incent site, you have not paid out all tokens but you have taken the site down. This makes no sense Huh Huh Huh
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March 09, 2017, 09:32:29 AM
 #3290

Stop lying to people!!!  >:(You have done nothing but empty statements. Raised money? WHERE ARE THE RESULTS???The builders of the pyramids... THEIR STRATEGIES leave deaf grandmother. Talkers and scammers.

I'll also be honest I feel like this was a scam coin. I invested in the ICO but even today I still have not received my tokens even though I've posted a WAVES address as advised. Today I see the ICO site is no longer available on the Incent site, you have not paid out all tokens but you have taken the site down. This makes no sense Huh Huh Huh
We are definitely not a scam.

Please, send me your ICO e-mail address and the amount of Incent we owe you. It will be taken care of.

WavesGo - the Official Block Explorer for the Waves Platform. Making blockchain accessible to the masses.
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March 09, 2017, 09:35:27 AM
 #3291

Stop lying to people!!!  >:(You have done nothing but empty statements. Raised money? WHERE ARE THE RESULTS???The builders of the pyramids... THEIR STRATEGIES leave deaf grandmother. Talkers and scammers.

I'll also be honest I feel like this was a scam coin. I invested in the ICO but even today I still have not received my tokens even though I've posted a WAVES address as advised. Today I see the ICO site is no longer available on the Incent site, you have not paid out all tokens but you have taken the site down. This makes no sense Huh Huh Huh

Let's be a little careful throwing around words like 'scam'?

I'm really sorry you haven't received your Incent. The tokens are still there waiting to be distributed, so don't worry, we will get that sorted. It's not clear what has happened here. Distribution occurs in tranches (for security reasons, we haven't implemented an on-demand withdrawal - this allows us to audit pending withdrawals) so it may simply be that yours hasn't been processed yet if you added the address recently.

If you come over to Incent Slack, we can get it sorted much faster. Otherwise drop us an email (incent@bitscan.co) and let us know your login details.

I'd encourage you to come to our Slack anyway. There's a lot of cool stuff going on and you'll get a much better picture of where we're at. You can talk to the team directly.
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March 09, 2017, 11:36:40 AM
 #3292

Anyone in here please help me, Can you give me a step to send incent from the wavelite wallet? Thanks for your help. Is it need a waves amount to pay the transaction fees?


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Cassius
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March 09, 2017, 11:41:30 AM
 #3293

Anyone in here please help me, Can you give me a step to send incent from the wavelite wallet? Thanks for your help. Is it need a waves amount to pay the transaction fees?

Yes, you'll need a (very) small amount of Waves to make transactions. 0.001 WAVES at this point. You can get it from an exchange or a kind person who will donate it. Hit us up on Slack and I'll send you enough to get you started.
mm0104
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March 09, 2017, 11:43:29 AM
 #3294

Anyone in here please help me, Can you give me a step to send incent from the wavelite wallet? Thanks for your help. Is it need a waves amount to pay the transaction fees?

Log in to the Waves wallet, click on the second round button with the suitcase on it named "Portfolio". There you see your Incent-Tokens. With "Transfer" you can send it to a deposit adress from an exchange.
Yes, at the moment you'll need a small amount of Waves to transfer Incent. I can donate you some Waves, so that you can transfer your Incent, just give me your address in a PM.

If you want to deposit on Tidex you'll need in addition to the deposit address also a Memo address that you paste into the field "attachment". Other deposits like Cryptopia work normal.

If you need additional help feel free to ask here or join the Incent-Slack.
J1mb0
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March 09, 2017, 01:42:55 PM
 #3295

Anyone in here please help me, Can you give me a step to send incent from the wavelite wallet? Thanks for your help. Is it need a waves amount to pay the transaction fees?

Yes, you'll need a (very) small amount of Waves to make transactions. 0.001 WAVES at this point. You can get it from an exchange or a kind person who will donate it. Hit us up on Slack and I'll send you enough to get you started.

Just use this waves faucet for some free waves.

http://www.wavesdrop.com/

Use chrome not firefox, though - it didn't work for me in Firefox.
specturul
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March 09, 2017, 01:46:19 PM
 #3296

I hope that price of the asset will soon begin to reflect the real cost of developers work.

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Conic
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March 09, 2017, 02:14:21 PM
 #3297

Polo did Not list Waves. So would never list Time.  Cry
shinratensei_
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March 09, 2017, 03:03:27 PM
 #3298


Yes, you'll need a (very) small amount of Waves to make transactions. 0.001 WAVES at this point. You can get it from an exchange or a kind person who will donate it. Hit us up on Slack and I'll send you enough to get you started.


Log in to the Waves wallet, click on the second round button with the suitcase on it named "Portfolio". There you see your Incent-Tokens. With "Transfer" you can send it to a deposit adress from an exchange.
Yes, at the moment you'll need a small amount of Waves to transfer Incent. I can donate you some Waves, so that you can transfer your Incent, just give me your address in a PM.

If you want to deposit on Tidex you'll need in addition to the deposit address also a Memo address that you paste into the field "attachment". Other deposits like Cryptopia work normal.

If you need additional help feel free to ask here or join the Incent-Slack.
Thanks for all of your suggestion and it's really useful and thank for to try to give a hand for me, but I have already bought little waves through liqui. Thanks for you all.  Wink


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Cassius
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March 09, 2017, 04:52:02 PM
 #3299

This looks and smells like a scam. Next stage is dumping on an excnage then it's adios amigo from the developer and off to the Bahamas.

Coval on the other hand.

You were doing so well until you got to the blatant shilling. 3/10 for your trolling. Please return to troll school for re-takes.

Edit: your post history shows exactly what's going on! That's obvious to the point of being hilarious.
addicto
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March 09, 2017, 05:17:42 PM
 #3300

This looks and smells like a scam. Next stage is dumping on an excnage then it's adios amigo from the developer and off to the Bahamas.

Coval on the other hand.

You were doing so well until you got to the blatant shilling. 3/10 for your trolling. Please return to troll school for re-takes.

Edit: your post history shows exactly what's going on! That's obvious to the point of being hilarious.

Actually people got frustrated due to recent price of this token although the team is doing nice job. I also quite sure this month will be very excited as some big announcement will be made surely.
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