[ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex

[IncentCEO]

What will be the total supply of incent ?

Good question!

Total supply will be determined by the amount of Incent sold during our forthcoming ICO. On completion of the ICO, 2 x the amount of Incent sold will be mined into existence. This will be the total supply of Incent.

Half of this total will be distributed to ICO buyers. The other half will be held in reserve to facilitate execution of our Primary Brokerage function. In material terms this will guarantee market liquidity and stability. Specifically it will ensure:

1. Near instant settlement with consumers, on reward issuance and merchants, on redemption.
2. That all new demand is promptly fed into the secondary market, bringing circulation back into balance.
3. That the market can be supported at any time, to the advantage of all holders of Incent.

RW.


 

Sounds very thought out will keep asking questions if you dont mind I wanna make sure I do my homework before investing in this project I have never heard of. I see other projects out their with developers that have done ICO's regarding a great idea and have lost money with them. lots of it. I cannot risk betting on them again even if they have tons of supporters with cool logos for the project. For the first time going with a newer project that actually has been doing this outside of cryptos for many years makes more sense to me. As I research all the angles I will keep asking my concerns as supply of any coin is a pertinent question

Fella, what can I say. Incent may not be blow-your-socks mind bending at first glance but it does leverage blockchain to solve a real world commercial problem. Solving this problem will result in mainstream merchants paying to issue crypto to their mainstream customers - every time they transact. To put it another way, this project has the potential to materially help crypto 'across the adoption chasm'. And if you cannot get excited about that...!

Anyway, keep asking your questions. We are at your disposal. 

RW.

[ankylotic]

If something were to happen with the waves blockchain that is detrimental is it possible to move this project onto another chain for same functionality ?

[IncentCEO]

If something were to happen with the waves blockchain that is detrimental is it possible to move this project onto another chain for same functionality ?

Absolutely, although it is not a decision that would be taken lightly. Beyond the alignment of commercial focus and the game changing functionality that will accompany it, our respective teams have painstakingly built an degree of cooperation and trust that would be difficult to quickly recreate elsewhere. The ideal of trust-less commerce should not obscure the paramount importance of trust in any meaningful commercial relationship. Incent lives at the application layer with our focus and expertise firmly fixed on merchants and consumers. The project would not be possible without a strong partner at the infrastructure layer - and we selected Waves not just because we believe their technology will be superior, but because I trust and respect their CEO, Sasha Ivanov, as a human-being.

[Tradingriver]

interesting idea!

1. do you have already signed contracts with merchants?
2. who will use and benefit from the collected data? Who knows and sells my sales pattern etc. and will take the money in ? Is this also redistributed to the token holders?

[Triload]

What will be the total supply of incent ?

Good question!

Total supply will be determined by the amount of Incent sold during our forthcoming ICO. On completion of the ICO, 2 x the amount of Incent sold will be mined into existence. This will be the total supply of Incent.

Half of this total will be distributed to ICO buyers. The other half will be held in reserve to facilitate execution of our Primary Brokerage function. In material terms this will guarantee market liquidity and stability. Specifically it will ensure:

1. Near instant settlement with consumers, on reward issuance and merchants, on redemption.
2. That all new demand is promptly fed into the secondary market, bringing circulation back into balance.
3. That the market can be supported at any time, to the advantage of all holders of Incent.

RW.

Your coins can be mined?? Your coins are distributed on waves platform, how can it be mined?

[IncentCEO]

What will be the total supply of incent ?

Good question!

Total supply will be determined by the amount of Incent sold during our forthcoming ICO. On completion of the ICO, 2 x the amount of Incent sold will be mined into existence. This will be the total supply of Incent.

Half of this total will be distributed to ICO buyers. The other half will be held in reserve to facilitate execution of our Primary Brokerage function. In material terms this will guarantee market liquidity and stability. Specifically it will ensure:

1. Near instant settlement with consumers, on reward issuance and merchants, on redemption.
2. That all new demand is promptly fed into the secondary market, bringing circulation back into balance.
3. That the market can be supported at any time, to the advantage of all holders of Incent.

RW.

Your coins can be mined?? Your coins are distributed on waves platform, how can it be mined?

Poor choice of phrase. Created and distributed. Forgive me... RW.

[FruitsBasket]

What will be the total supply of incent ?

Good question!

Total supply will be determined by the amount of Incent sold during our forthcoming ICO. On completion of the ICO, 2 x the amount of Incent sold will be mined into existence. This will be the total supply of Incent.

Half of this total will be distributed to ICO buyers. The other half will be held in reserve to facilitate execution of our Primary Brokerage function. In material terms this will guarantee market liquidity and stability. Specifically it will ensure:

1. Near instant settlement with consumers, on reward issuance and merchants, on redemption.
2. That all new demand is promptly fed into the secondary market, bringing circulation back into balance.
3. That the market can be supported at any time, to the advantage of all holders of Incent.

RW.

Your coins can be mined?? Your coins are distributed on waves platform, how can it be mined?

Poor choice of phrase. Created and distributed. Forgive me... RW.

If you create them, who does prevent you from dumping them all on the market?
So Bitscan holds 33% of the total tokens distributed, isn't that alot?

[IncentCEO]

What will be the total supply of incent ?

Good question!

Total supply will be determined by the amount of Incent sold during our forthcoming ICO. On completion of the ICO, 2 x the amount of Incent sold will be mined into existence. This will be the total supply of Incent.

Half of this total will be distributed to ICO buyers. The other half will be held in reserve to facilitate execution of our Primary Brokerage function. In material terms this will guarantee market liquidity and stability. Specifically it will ensure:

1. Near instant settlement with consumers, on reward issuance and merchants, on redemption.
2. That all new demand is promptly fed into the secondary market, bringing circulation back into balance.
3. That the market can be supported at any time, to the advantage of all holders of Incent.

RW.

Your coins can be mined?? Your coins are distributed on waves platform, how can it be mined?

Poor choice of phrase. Created and distributed. Forgive me... RW.

If you create them, who does prevent you from dumping them all on the market?
So Bitscan holds 33% of the total tokens distributed, isn't that alot?

The fact that it would be commercial suicide. As primary broker we need a reserve to deliver the service. In delivering that service our business aims are aligned with all other participants.

In recognition of the trust that this demands of us as the guarantor of this eco-system we have stated that any profit derived from market-making operations will be shared with all holders of Incent in the form of a bi-monthly dividend.

[Cassius]

The Reserve isn't for the benefit of the devs and won't be run down over time. It's not a classic pre-mine. It's to ensure Incent can be remitted promptly to customers and is replenished as we go.

[Cassius]

So this article unpacks the purpose of the Reserve. As you'll see, it's kind of important

Incent reserve: explainer


From the moment the first merchant goes live with Incent, liquidity and maintenance of an orderly market is imperative if the project is to function commercially. As part of our mandate to support market integrity through market-making and to enable merchants to issue and redeem Incent in good order, BitScan will be maintaining a Reserve of bitcoin and Incent. Ultimately, the reason for this is very simple:

Fiat payments from merchants are subject to a lag, whilst cryptocurrency payments need to be settled instantly at the point-of sale.


The Reserve will allow us to 'arbitrage' funds at the point of purchase, sending customers their Incent immediately

Thus BitScan must have the capacity to remit funds immediately to the customer and merchant to avoid the unacceptable delays that would otherwise be involved.

On issuance: When a customer makes a purchase with a credit card and the merchant’s PoS instructs BitScan to send Incent to their account, this needs to happen immediately for the commercial impact of the reward to be maximised; whereas the fiat settlement funds, sent by the merchant after the fact to pay for the Incent issued, take 2-4 days to process. BitScan therefore needs a reserve of Incent to send to the customer as soon as the instruction is received. BitScan also needs a reserve of BTC which is deployed in response to new Incent issuance, to buy the corresponding amount of Incent at market rates. This has the impact of driving demand and rebalancing circulation of Incent. Finally, when cash funds are received to BitScan’s bank they are converted to replenish the Reserve with BTC - and the cycle repeats.

On redemption: When a customer pays a merchant with Incent, BitScan processes both order and transaction, settling with the merchant in cash and subsequently selling the Incent received at market rates to replenish the Reserve. Of note, any redemption for a product or service attracting a discount for Incent triggers a new issuance cycle which ensures that net demand always trumps net supply.

Maintenance of a reserve is therefore critical, as it enables BitScan to acts as a market-maker and assure liquidity, while promoting enduring appreciation of the asset through maintenance of stable circulation. We recognise that such a model is unusual in the cryptocurrency world, where issuance is typically algorithmic and large pre-mines are viewed with scepticism. However, mining new Incent on a pre-set schedule would take no account of variances in demand for the token following product launch. A pre-set schedule that makes no allowances for market conditions risks placing supply pressure on price, with the resultant price volatility undermining our objective of a stable and liquid digital asset whose value appreciates steadily.

Rather than being a liability for Incent, we therefore consider the presence of a reserve and market-maker essential for Incent to have enduring value to consumers, merchants and anyone holding it as a store of value.

In recognition of and in order to reward the additional trust that this facet of our offering represents, profit deriving from market making operations will be shared 50/50 with the Incent holding community, in the form of a dividend distributed on a pro-rata basis, on the first day of every other (even) month.

Reserve tokens, bitcoin and cash will be held in secure, offline accounts, with only an operating balance of crypto held on-exchange as required to perform this critical market-making function.

[ankylotic]

What happens if reward points go out and businesses decide not to pay ?

[ankylotic]

What is Algolia ? It is in your technology section on your website

[JamesSany]

I got some free incent token for doing some simple tweet and retweet. is there will be any facebook campaign later? there was is many ico promotion currently running on facebook,and i think they got a good response there in FB.

[Cassius]

What happens if reward points go out and businesses decide not to pay ?

How it works is:
Customer pays merchant
Merchant has designated a % of each purchase to be sent to the customer as Incent
Merchant sends this % to BitScan, with an instruction to issue Incent to the customer wallet
Merchant receives instruction and issues Incent to customer

This is also why BitScan needs the reserve: they need to issue Incent immediately, at point-of-sale, but due to the well-known inefficiencies of the banking system, the funds will only reach BitScan 2-3 days later. So they need Incent on-hand to send out, which they will then replenish when the funds arrive from the merchant.

I suppose it would be possible for a merchant to send an instruction without any money, but then the normal channels are available to recoup it - and the merchant would get booted out of the programme if they kept offending.

I'll let Rob or someone more qualified answer the question about Algolia.

[Cassius]

I got some free incent token for doing some simple tweet and retweet. is there will be any facebook campaign later? there was is many ico promotion currently running on facebook,and i think they got a good response there in FB.

Yep, we're gearing up the TVE campaign and FB should be included.

[hollandvan]

I got some free incent token for doing some simple tweet and retweet. is there will be any facebook campaign later? there was is many ico promotion currently running on facebook,and i think they got a good response there in FB.

Yep, we're gearing up the TVE campaign and FB should be included.

How many indent bounty distribute to TVE fb and twitter bounty? You don't hace any other form social bounties? Actually i like bountires only there, because TVE is a smart website, they detects bots and cheaters, they will ban cheaters.

[niksdt101]

is this going to be POS or POW or something new please clarify..also is there a wallet build on the plan ??

[8o8aFett]

is this going to be POS or POW or something new please clarify..also is there a wallet build on the plan ??

It's POS - and released on Waves. I think they will handle the wallet side of things.

[szachta]

Get incent from viral but small amount daily.

[BitcoinUKmedia]

I got some free incent token for doing some simple tweet and retweet. is there will be any facebook campaign later? there was is many ico promotion currently running on facebook,and i think they got a good response there in FB.

Yep, we're gearing up the TVE campaign and FB should be included.

How many indent bounty distribute to TVE fb and twitter bounty? You don't hace any other form social bounties? Actually i like bountires only there, because TVE is a smart website, they detects bots and cheaters, they will ban cheaters.

Hi, there is a maximum of 200,000 Incent available for the social media bounty through TVE.

TVE is a solid platform for the bounty campaign as it has been tested thoroughly via the Stratis ICO so it should not be possible to game the system. At the moment it only offers Twitter, FB, Youtube and Google+ bounties so we are limited to those channels. You will also be able to earn Incent for signing up to our newsletter too once that goes live.