ACT Explainer Video
ACT (www.daoact.org) is delighted to announce its pre-ICO to 17:00 CEST (08:00 PDT) 18th July 20175% of proceeds (ETH) will be distributed to WINGS forecasters using WINGS ICO integration with a smart contract (please note dates could be subject to minor changes due to third party smart contract audit timelines)
The world’s first decentralised platform promoting social accountability will launch on WINGS. Here is our
announcement published last month, and which was
widely covered.
Team:- CEO: Fraser Brown LinkedIn
- Project Manager: Ian Cunningham LinkedIn
- Lead Architect: Ganesh Yung, Managing Director, Draglet LinkedIn
- Lead Developer: Johannes Angermeier, Draglet LinkedIn
Learn more about team and partners
here. Also, please check out our "meet the team"
video.
Token details- Token name: ACT
- What does this token represent: It is a reward token that governs the distribution of 15% of platform revenue to proposal curators (see white paper)
- Total supply: 10 billion
- ICO format: All ACT will be issued and distributed during the crowdsale (ICO)
ICO details:A total of 10,000,000,000 (10 billion) “ACT Token” shall be implemented in the smart contract.
More about ICO details in the
white paperRoadmapIn January 2017, we built a
prototype of ACT on the Ethereum testnet, and full specifications have since been developed based on the final ACT White Paper. These specifications - including fixed pricing for the smart contract development work (identified as milestones) - will be published prior to the pre-ICO. Furthermore, a smart contract that only allows pre-ICO funds to be drawn from a 3-4 multisig wallet in line with the defined milestones will be implemented. A full analysis of this ground-breaking approach will be published as an article shortly.
Pre-ICO and Bounties detailsThe ACT donation campaign has three phases:
- Pre-ICO: 2pm CET 18th July 2017–1st August 2017
- Pre-release access: Close of pre-ICO — 18th November 2017.
- ICO: 18th November 2017–18th January 2018.
Pre-ICO bonuses:
- Platinum — 10x for first $250k
- Gold — 5x for next $250k
- Silver — 2.5x after $500k
Example: Donator “Sean” donates $100,000 on the first day of the pre-ICO (phase 1). Sean’s allocation of ACT Token at the ICO is therefore 10x his donation i.e. $1,000,000 worth of ACT Token.Pre-ICO conditionsPlease note: Platinum and Gold bonuses reduce by half (to 5x and 2.5x respectively) after the half way point of the pre-ICO (25th July at 17:00 CEST)
Pre-ICO limits- pre-ICO soft cap— to be decided after WINGS.ai price forecast event
- ICO cap — to be decided after WINGS.ai price forecast event (before the pre-ICO) and announced prior to the commencement of fundraising.
- Individual donation cap for the pre-ICO — $150,000.
Act token price = Total amount fundraised / 80 billion tokens
For complete details about our pre-ICO event please see this Medium postDistribution of Rewards- Signature campaign - 10% (20,000,000 ACT)
- Slack / Telegram / Newsletter - 5% (10,000,000 ACT)
- Blog posts, articles and videos campaign - 30% (60,000,000 ACT)
- Translations - 5% (2500000 ACT)
- Social networks - 15% (30,000,000 ACT)
- Miscellaneous - 30% (60,000,000 ACT)
More details of our bounty campaign will be announced shortly. Signature campaigns will commence on July 1st, and run for one month.
What are you trying to achieve?ACT is a decentralised autonomous organisation (DAO) that supports the “enabling elements” of citizen engagement - conditions that affect the ability of state and citizens to engage in systems of social accountability – including the freedom of citizens to associate, their ability to mobilize financial resources to fulfil the objectives of their coordinated actions and/or organizations, their ability to formulate, articulate and convey opinion, their access to information (necessary for their ability to exercise voice, engage in negotiation and gain access to resources), and, the existence of spaces and rules of engagement for negotiation and public debate.
What is the societal problem being addressed?
ACT seeks to boost the enabling elements described above and associated conditions in support of citizen action. The societal problem being addressed is social accountability, which is the extent and capability of citizens to hold the state accountable and make it responsive to their needs. ACT’s objective is to address the imbalance of power between state action and citizen action. Citizen engagement can be defined as the interplay of five constitutive elements: state action, citizen action, information, citizen-state interface, civic mobilization.
It is helpful to consider some hypothetical examples of the interplay at work:
Example 1: The rights of Maria Dzuba’s disabled daughter
The ACT white paper, website and explainer video all use the hypothetical example of Maria Dzuba from Minsk, Belarus to help explain the what and why of ACT. In summary, Maria’s 8 year old daughter Lera is disabled and local government refused to repair the elevator in her building for budget reasons. Belarusian law allows for a petition to be raised to create a “public letter” which can be considered. Maria asks the ACT community for $200 to fund her campaign.
Example 2: A journalist detained and in need of legal support
Sometimes when civic mobilization occurs within a hostile political system, the independent media that seeks to cover the story can get into hot water. For example, a cameraman could have his/her equipment confiscated and he/she could be detained by the police. In this instance, the person urgently needs the best legal support. ACT could support such an intervention, and even fund replacement equipment!
Example 3: Communities fighting coal mining expansion in the United Kingdom
Local communities around the world are fighting open cast coal mining that is harmful to their health and the wellbeing of their children. In some places such as Wales in the UK, expansion plans threaten to drive other existing and new employers from the area who do not want to be located where such health concerns exist. Such local action inevitably ends up weighing heavily financially on communities that initiate them. Consequently, they can ill afford to maintain them let alone expand them in line with the potential for real impact and change.
These case studies are elaborated upon within the
white paperHow is success measured?
ACT’s theory of change is described as follows:
ACT at Berkeley University, and other events and media
Top: ACT at Ukraine Meetup; Bottom left: ACT at UC Berkeley; Bottom right: with friends from WINGS and Zurich's Smart Valor in Munich
_______________________________________________________________________________ _____
1. The ACT donation campaign — pre-ICO details
2. The ACT pre-ICO — Crunching the numbers 3. Frequently Asked Question (FAQs) relating to our bounty questionnaire 4. Support Worldwide Social Accountability with this Upcoming ICO In this first bitcointalk post (hosted by @irfan_pak10 *Please send all the pm to daoact), we wanted to put forward practical questions and answers to help you understand what ACT is about, and its potential. We look forward to tackling any and all questions - technical or otherwise - that arise. But first, we will outline the basics of our donation campaigns, team, and other relevant details.[/list]
