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Author Topic: [ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex  (Read 469519 times)
Cassius
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May 03, 2017, 11:44:56 AM
 #3881

Total supply is 46M
Circulating supply is 23M

But if you guys give coins to PR firms and other busienss from the total supply, doesnt that make the circulating supply a lot bigger ? How much you gave away already from the total supply?

seems, right now you need to multiply marketcap by 2 to get the value of incent right

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

How can we know for sure? is there a smart contract preventing anything to happen to it? and where did the INCNT paid to the PR firm came from?

(Sorry for all the questions, just trying to get a sense of the real value of this coin)

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 Smiley
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!
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Cassius
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May 03, 2017, 11:49:35 AM
 #3882

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.
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May 03, 2017, 11:54:07 AM
 #3883

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

thanks a lot for the great replies:) also could you expand a bit on why you decided to choose the waves platform over another one? what was your criterias?
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May 03, 2017, 12:10:01 PM
 #3884

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

thanks a lot for the great replies:) also could you expand a bit on why you decided to choose the waves platform over another one? what was your criterias?

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.
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May 03, 2017, 09:18:09 PM
 #3885

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

thanks a lot for the great replies:) also could you expand a bit on why you decided to choose the waves platform over another one? what was your criterias?

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.

thanks for being so kind in replying to my questions:) I'm in! Got some below 100 (I think it was ico price?), hopefuly i can catch some at 50 Cheesy
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May 03, 2017, 09:36:30 PM
 #3886

Guys do you know why has happened the dump of the INCNT exchange rate on exchanges, I was highly optimistic to see INCNT higher but it was dumped a bit, maybe because of the recent increase of bitcoin price or there is another reason behind?


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Cassius
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May 03, 2017, 09:44:43 PM
 #3887

Guys do you know why has happened the dump of the INCNT exchange rate on exchanges, I was highly optimistic to see INCNT higher but it was dumped a bit, maybe because of the recent increase of bitcoin price or there is another reason behind?

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.
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May 04, 2017, 08:14:54 AM
 #3888

I am not sure, if this is really the correct answer. It is always easy to say, alts are falling, because btc is rising. There are quite a lot alts arround rising despite of the rise of btc...
KarlKarlsson_
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May 04, 2017, 08:47:47 AM
 #3889

I am not sure, if this is really the correct answer. It is always easy to say, alts are falling, because btc is rising. There are quite a lot alts arround rising despite of the rise of btc...
I don't think anyone is able to give a 'correct' answer to that question, it's a market after all and people's opinions on a market differ.

Personally, I think it's the Bitcoin bull run and a correction after a 200% increase over only a few weeks.

WavesGo - the Official Block Explorer for the Waves Platform. Making blockchain accessible to the masses.
Cassius
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May 04, 2017, 09:13:45 AM
 #3890

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

thanks a lot for the great replies:) also could you expand a bit on why you decided to choose the waves platform over another one? what was your criterias?

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.

thanks for being so kind in replying to my questions:) I'm in! Got some below 100 (I think it was ico price?), hopefuly i can catch some at 50 Cheesy

Glad you're in! Smiley
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.
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May 04, 2017, 10:36:55 AM
Last edit: May 04, 2017, 06:00:52 PM by Stein
 #3891

I would think that if one was inclined to get into Incent based on the business model and fundamentals that now is the time to get in.
Why ?

Waves is going to explode with the release of it's Dex and Incent is positioned very well within the Waves world.

Incent is the owner of the dual-blockchain tech. Meaning that when Waves DOES get big, which it will, the ability to trade between Waves<>ETH block-chains is Incent's

Incent has held up fairly well considering BTC is at an all time high. BTC rises like this used to decimate alt coins in 2016.

The team is a serious team. They are available all the time in their Slack (can't say that with many post ICO coins/tokens) and the CEO is jetting around the world as we speak getting more business.

The businesses that got paid in Incent bonuses have already dumped. Anyone dumping now is doing so at a real $ loss.

The first retailer is about to come on board. Retailers as I understand it will need to buy Incent to use the Incent program.. So there should theoretically be constant buy pressure at some point.

That's why I decided that this is the price either to buy what you want for the future or slowly accumulate.

I invested today.


The only thing that I would ask of the team is to sit down and have a real serious conversation amongst yourselves about balancing your responsibilities towards your clients with those of your investors.
You might want to think about moving a portion of the incents sold to businesses to a burn wallet that we can all watch at anytime. The shares need to become less available as time goes on.


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May 04, 2017, 10:48:18 AM
 #3892

I am waiting for the drop to 6K to buy in.  Grin
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May 04, 2017, 11:18:24 AM
 #3893

The only thing that I would ask of the team is to sit down and have a real serious conversation amongst yourselves about balancing your responsibilities towards your clients with those of your investors.
You might want to think about moving a portion of the incents sold to businesses to a burn wallet that we can all watch at anytime. The shares need to become less available as time goes on.


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.
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May 04, 2017, 11:22:53 AM
 #3894

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.
Ah I thought the business bought the Incent. So the app buys the Incent when a customer uses the app to buy something.. Is that right ? Will that be in real time-ish ?
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May 04, 2017, 11:32:25 AM
 #3895

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.
Ah I thought the business bought the Incent. So the app buys the Incent when a customer uses the app to buy something.. Is that right ? Will that be in real time-ish ?


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.
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May 04, 2017, 11:39:08 AM
 #3896

Sounds like a much easier way to get businesses to use the product. They can be completely hands off. Now I understand the reserve as well.
Thanks
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May 04, 2017, 11:40:21 AM
 #3897

I'm still holding my incent. This project has massive room for growth!

Waiting for it to hit the floor before I fill my bags even more bargain Incent!


 
 
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darlidada
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May 04, 2017, 01:58:46 PM
 #3898

Regarding the payment to the PR firm: I understand it was paid in Incent, but from which pocket was it paid? is there a dev fund that serves to this purpose? Also, is the amount that was paid public? Also, for the next time, is it possible for token investors to be alerted beforehand?
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May 04, 2017, 03:00:55 PM
 #3899

Ugh, it is not funny to be an incent-investor at the moment... from 6 to 19 and back to earth.
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May 04, 2017, 03:08:45 PM
 #3900

Regarding the payment to the PR firm: I understand it was paid in Incent, but from which pocket was it paid? is there a dev fund that serves to this purpose? Also, is the amount that was paid public? Also, for the next time, is it possible for token investors to be alerted beforehand?

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