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Author Topic: [ANN][TKS]TOKES Platform | Blazing the Blockchain  (Read 46789 times)
kov
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March 07, 2017, 06:37:13 PM
 #761

Just putting this immediate response out, copy-and-paste from our slack. I'll be providing a more detailed response shortly. The bottom line is that we have all investor transaction information, and we'll be exchanging the initial tokes asset with a new one of the same name, on waves.

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


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March 07, 2017, 06:57:29 PM
 #762

Just putting this immediate response out, copy-and-paste from our slack. I'll be providing a more detailed response shortly. The bottom line is that we have all investor transaction information, and we'll be exchanging the initial tokes asset with a new one of the same name, on waves.

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



Thanks for the update.
kov
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March 07, 2017, 09:09:22 PM
 #763

Repost from my Incent thread reply:
=======================


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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soloasi
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March 07, 2017, 09:22:42 PM
 #764

Just putting this immediate response out, copy-and-paste from our slack. I'll be providing a more detailed response shortly. The bottom line is that we have all investor transaction information, and we'll be exchanging the initial tokes asset with a new one of the same name, on waves.

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



'..recreating the asset on waves, with the same name, but under a new asset ID' , as theres not open the exchanger on WAVES wallets yet i wonder what this means, like a swap? but keeping the same name and changing the ID (dont know the ID on waves chain mean :/)?


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March 07, 2017, 10:19:26 PM
 #765

And a repost from Incent thread for the sake of completeness. I think this is a very reasonable response given the agreement that existed.

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 07, 2017, 10:44:51 PM
 #766

And a repost from Incent thread for the sake of completeness. I think this is a very reasonable response given the agreement that existed.


Perhaps reasonable, but also inaccurate. However, since Rob has extended a resolution to the issue, I'd prefer to accept that offering and continue dedicating our efforts to the project initiatives.

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March 08, 2017, 12:17:38 AM
 #767

update exchange pliss

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March 08, 2017, 06:41:44 AM
 #768

How very unprofessional of you to bring private business matters and complaints into a public forum.  This is something that could have and should have been handled privately. 
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March 08, 2017, 07:34:33 AM
 #769

How very unprofessional of you to bring private business matters and complaints into a public forum.  This is something that could have and should have been handled privately. 

I tend to agree with you - KOV shot himself and TOKES in the foot on this one.  Smart thinking KOV.


                                                   
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muleroaa
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March 08, 2017, 01:42:24 PM
 #770

How very unprofessional of you to bring private business matters and complaints into a public forum.  This is something that could have and should have been handled privately. 

Yep, no need for that at all.

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March 08, 2017, 04:11:41 PM
 #771

How very unprofessional of you to bring private business matters and complaints into a public forum.  This is something that could have and should have been handled privately. 

Yep, no need for that at all.

I disagree.  I think he did right to post it in public as it's a significant event.  Folks should know what's happening, like me.
Kov did the right thing. 

Now to move forward, what should he do.
Some suggestions:
1. Do what he said, recreate / reissue TOKES through waves, but why when creating Tokens through Ethereum is so easy.
2. Refund everyone and redo the ICO.
3. Redo the ICO through Ethereum.  With ethereum, you can easily create any token you want.

I think it's best for the community and because partnering with Incent had failed, it's best to do a full refund.  Then move forward and redo a new ICO through Ethereum. 
Acknowledge and take responsiblity that because Incent didn't work out, this is the best path forward.

Same thing with Etheroll.  They refunded everyone with their failed ICO and months later, did a NEW ICO because of the DAO failure.  Because they did that, folks see it as credible and the right thing to do and trustworthy.  The NEW ICO they did was even more successful. 

When folks see you to be trustyworthy and doing the right thing, people will take part. 
 
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March 08, 2017, 04:18:41 PM
 #772

How very unprofessional of you to bring private business matters and complaints into a public forum.  This is something that could have and should have been handled privately.  

Yep, no need for that at all.

I disagree.  I think he did right to post it in public as it's a significant event.  Folks should know what's happening, like me.
Kov did the right thing.  

Now to move forward, what should he do.
Some suggestions:
1. Do what he said, recreate / reissue TOKES through waves, but why when creating Tokens through Ethereum is so easy.
2. Refund everyone and redo the ICO.
3. Redo the ICO through Ethereum.  With ethereum, you can easily create any token you want.

I think it's best for the community and because partnering with Incent had failed, it's best to do a full refund.  Then move forward and redo a new ICO through Ethereum.  
Acknowledge and take responsiblity that because Incent didn't work out, this is the best path forward.

Same thing with Etheroll.  They refunded everyone with their failed ICO and months later, did a NEW ICO because of the DAO failure.  Because they did that, folks see it as credible and the right thing to do and trustworthy.  The NEW ICO they did was even more successful.  

When folks see you to be trustyworthy and doing the right thing, people will take part.  
  

team can't do that anymore, they already sent some tokes out.  i once oppose the team for not distributing after the ico all but seeing what happened i guess its not their fault after all.
if the people agree, i'd send back mine too for the RE-ICO.

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March 08, 2017, 05:01:13 PM
 #773

Tokes need a bigger exchange to get more high value for each token. It's backed by trillion dollars industry and dev team have clear vision about the future of this project.



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kov
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March 08, 2017, 07:30:29 PM
 #774

How very unprofessional of you to bring private business matters and complaints into a public forum.  This is something that could have and should have been handled privately.  

I think a few people are a bit confused on the order of events. My reply was in response to a public comment from the Incent team.


More importantly though, they did send us the remaining balance of the tokes from asset creation, so re-recreating the asset will not be necessary. We're simply ceasing the relationship with their ICO management portal. This just means that we'll internally manage the remaining distributions. We have the user data required to do so, so it's just a matter of communicating with those individuals.


If you're looking for information about the status of your account formerly on the portal, please reach out to us directly at support@tokesplatform.org or in slack.

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sulec70
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March 08, 2017, 10:12:58 PM
 #775

I hope Tokes team and Incent team will be able to solve the problem, i think I think it's just lack of communication.
We always support Tokes project!

ETH : 0xA94e4DA7AC2b050ec8b7d7ba09F8A4EDEe3B9028
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March 08, 2017, 10:44:06 PM
 #776

I hope Tokes team and Incent team will be able to solve the problem, i think I think it's just lack of communication.
We always support Tokes project!


Thank you sulec70. The issue has essentially been resolved, and we're both moving forward with our respective paths.

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March 09, 2017, 08:08:09 PM
 #777

I hope Tokes team and Incent team will be able to solve the problem, i think I think it's just lack of communication.
We always support Tokes project!


Thank you sulec70. The issue has essentially been resolved, and we're both moving forward with our respective paths.

but when tokes entry bitrex dev?

only need 3 BTC to enter exchange bitrex

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March 09, 2017, 08:10:31 PM
 #778

I hope Tokes team and Incent team will be able to solve the problem, i think I think it's just lack of communication.
We always support Tokes project!


Thank you sulec70. The issue has essentially been resolved, and we're both moving forward with our respective paths.

good to know it, because INCENT price is going down the hill.  Sad


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March 09, 2017, 08:14:02 PM
 #779

Bounty distributions have now gone out. You'll want to check the 'Portfolio' tab of the Waves Lite wallet, where you'll see 'tokes' listed as an asset. Incent bonuses for ICO contributors will be coming out soon.

How big were the bounties? Someone told he / she managed to receive up to 30 btc in one transaction which made me wondering where that charity thing was coming from. Who was funding fairly huge giveaways and how deep were their pockets?

30btc bounties haha...

30 btc bounties ha... Cheesy

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March 09, 2017, 09:10:22 PM
 #780

Bounty distributions have now gone out. You'll want to check the 'Portfolio' tab of the Waves Lite wallet, where you'll see 'tokes' listed as an asset. Incent bonuses for ICO contributors will be coming out soon.

How big were the bounties? Someone told he / she managed to receive up to 30 btc in one transaction which made me wondering where that charity thing was coming from. Who was funding fairly huge giveaways and how deep were their pockets?

30btc bounties haha...

30 btc bounties ha... Cheesy

really? nice! despite the ICO result tokes is more generous than Chronobank which collected more than $5Million. 30 BTC is just too huge though, it sure would affect the market when these users dumped them all at once. A buy walls perhaps is going to be a good in this case.

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