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Author Topic: 🌲[ANN]RootProject - First Tax-Subsidized Cryptocurrency[ICO Sep 5]  (Read 3092 times)
TonTon
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July 26, 2017, 10:43:21 PM
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Official RootProject ANN Thread


Pre-ICO: July 10 - July 28; 50% bonus.
ICO: September 5 - September 28
ICO Price: 1 ETH = 10,000 ROOTS
Pre-ICO Price: 1 ETH = 15,000 ROOTS

RootProject is a powerful new model, introduced by two PhDs and a Y Combinator alum.  It uses a cryptocurrency to give nonprofits all the power of markets and large investors.  Crowdfunding and proven anti-poverty programs are brought together with a cryptocurrency designed to appreciate over time.
 
People or institutions create projects on RootProject’s crowdfunding app to improve their community. If the project reaches its fundraising goal, The RootProject hires and trains impoverished locals to do the work, under the guidance of a trained RootProject supervisor.
 
In addition to earning a living wage in local currency, an additional 50% of the day’s wages is deposited in workers’ medium-term ‘pension’ fund in the form of ROOTS tokens (which is changed to local currency when withdrawn).
 
The tokens for the crowdfunding fee and the pension plan are purchased on the open market, increasing demand while supply is strictly hard capped.
 
The Initial Coin Offering for ROOTS is scheduled for September 5, 2017 and this is your opportunity to invest in an ICO that increases in value by raising people from poverty.  The Pre-ICO runs until July 28th and carries a 50% bonus.  

Website: http://rootproject.co
GitHub: https://github.com/rootprojectco/backend
Twitter: https://twitter.com/rootprojectco
Facebook: https://www.facebook.com/rootprojectco/
Reddit: https://reddit.com/r/rootproject
Telegramhttps://t.me/Rootproject
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For Investors: The Economics of RootProject’s Token
Pre-ICO closes July 28


The author, Dr. Nicholas Adams Judge, is a political economist and cofounder of RootProject. The other cofounder is Chris Place, a Y Combinator Fellow. Their nonprofit’s pre-ICO, which carries a 50% bonus, just passed 203% of its goal. The cofounders are taking zero tokens and no compensation beyond a reasonable salary.

RootProject’s pre-ICO is ending in two days. Formally organized the Friday before it launched, it was a purely grassroots crowdsale, intended to raise funds for the exceptional legal complexities of wedding a Swiss-based token-administering foundation with an American on-the-ground nonprofit.

We have more than doubled our pre-ICO goal, in a difficult Ether market, and built a slack team of over a thousand people. Now it is time to reach out to more established investors for the actual ICO — though of course we hope the grassroots attention and investment will carry over to the ICO. The talk thus far has been about the social impact of RootProject. Now let’s focus on the asset itself.

While Chris, myself and our friend Dr. Melissa Mahoney came up with the ideas behind RootProject, as a political economist whose dissertation focused on models used in currency markets, the design of the crypto asset itself was left up to me.

Beyond my quantitative research, I also worked under Berkeley economist Professor Emeritus Jack Letiche, whose work on foreign exchange models and first-hand war stories about some of the currency crises of the twentieth century gave invaluable insight into how to interact with markets in order to preserve value.

A technical whitepaper on the design of the crypto asset, the ROOTS token, will be published for quantitatively sophisticated investors before the ICO. However, the below conceptual sketch conveys in simple language what every potential investor should know.

Time to Get Serious About Liquid Markets
It’s impossible to predict with a high level of certainty how markets will greet a new asset, let alone a crypto asset. However, asset design can be optimized, down to great detail, to endow it with the qualities sophisticated investors look for — something not being done by nearly all cryptocurrency-issuing companies thus far.

There are brilliant people making incredible products and services in the crypto space. It is important to be honest, though: This is the first time that a group of 20 year-olds can launch an asset that interacts with liquid markets before they have gone through the professionalizing process of building a company up to the IPO stage.

The learning curve has not been pretty, and much needless value destruction has taken place — both for investors and cryptocurrency-issuing companies.

Value generation in the crypto space will accelerate as asset design best practices become standard — and as companies learn to communicate to investors effectively. RootProject will work with other organizations during its ICO to standardize these best practices.


The Basics of RootProject
If you are not already familiar with RootProject, our whitepaper describes it thoroughly. The website, of course, contains useful information, and the one-pager provides a brief summary.



Two Key Design Objectives
ROOTS tokens are designed with two objectives in mind.

  • To create a virtuous growth cycle that links asset value and institutional growth (while sheltering the institution from downward shocks to the asset’s price by holding several years’ operating budget in USD).
  • To reduce volatility and correlations with the crypto assets that we expect to be held in the same investor portfolios as ROOTS tokens.

The Virtuous Growth Cycle
Growth is achieved by funneling demand from crowdfunded projects into a feedback loop that links organizational growth and asset value. You can read more about our feedback loop here.

Demand for tokens comes from three main sources.

  • The crowdfunding fee — that is, the 10% fee on donations to particular projects — is used to purchase tokens on the open market.
  • The pension fund contribution — funded like the rest of the project budget, from the crowdfunded donations to a particular project— is also made in the form of ROOTS tokens that are purchased on the open market.
  • Large deals with institutional donors — either seeking positive PR or to do social good — involve a small portion of dollars going to the purchase and burn of tokens.



While demand for ROOTS is increased, supply is strictly hard capped. The majority of supply is not released for over half a decade. During and after that time, a substantial portion of ROOTS will be burned.

In short, while one can never predict with certainty future price movements, ROOTS tokens are designed to enjoy increasing demand and reducing supply.

During the pre-ICO, some unprofessional investors have voiced worry that creating an explicit set of linkages between organization size and efficacy and crypto asset value amounts to a ‘Ponzi scheme.’ Two responses are appropriate.

First, their debate is with various Nobel-winning economists or political economists, not Rootproject, whose design is a simple extension of their work into the crypto space. Laureates Elinor Ostrom and Clive Granger are useful examples, among others.

Next, markets establish links between asset value and institutional size and efficacy, whether crypto asset-issuers like it or not. By centering these links around formal organizational rules-based relationships, uncertainty is reduced, creating risk-adjusted value for investors and program participants.

Volatility and Correlations
The second design objective of the ROOTS token is to reduce volatility and correlations with the crypto assets that we expect to be held in the same investor portfolios as ROOTS tokens. This is done by tying market price — as much as is possible — to underlying, predictable token supply and token demand variables.

If the market price strays too far from the published equilibrium price, our real-time data publication and modeling will aid quantitative investors in pushing the price back to the equilibrium.

Because of known difficulties in models of equilibrium price, RootProject’s published data will greatly ease the modeling process, encouraging investor adoption of appropriate models.

This ease of use should also increase ROOTS liquidity, as automated trading strategies will be easy to build, and thus sellers will be able to find buyers with greater ease.

Conclusion
ROOTS tokens are simple assets. Only several rules link their expected future price to the nonprofit institution’s activities: Crowdfunding fees, pension funds payments and negotiated large donor deals.

Even very modest scaling of the crowdfunding platform — say, $10 million raised in a year, as opposed to Kickstarter’s $600 million last year — will lead to substantial, sustained liquid supply reduction of ROOTS tokens on the market.

Because RootProject combines a crypto asset with the very basics of institutional economics and financial econometrics, a new phase in the maturation of the crypto asset space can begin.


Disclaimer: All investing is risky, and cryptocurrency markets are an exceptionally volatile asset space. Never invest with assets you are not willing to lose.

Regards,
RootProject team
info@rootproject.co

RootProject in other languages
Chinese
French
Portuguese
Dutch
German
Italian
Indonesian
Romanian
Filipino
Bulgarian
Vietnamese

old ANN here: https://bitcointalk.org/index.php?topic=2007772.0

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July 26, 2017, 10:52:15 PM
 #2

How do you guarantee tax deductions?




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July 26, 2017, 10:53:39 PM
 #3

New thread for the root project, i tried to hit the bounty button but it seems error Cry

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬  ●    UTRUST // The FUTURE of Online Payments    ●  ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬        whitepaper     facebook     twitter     slack         ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
PRE-ICO | 28th August 2017
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July 27, 2017, 07:54:16 AM
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sorry , slack bounty still work ?
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July 27, 2017, 08:47:13 AM
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Nick (Dr. Nicholas Adams Judge) published a new article: For Investors: The Economics of RootProject’s Token

https://medium.com/@nickadamsjudge/for-investors-the-economics-of-rootprojects-token-d6d4e3ab52

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July 27, 2017, 11:50:33 AM
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This coin has caught my attention since it first was announced. Taxes are a huge problem for those involved in the cryptocommunity since it works both ways. Making profit costs you money. Losing (which isn't quite hard in this last weeks with all the bears on the road) also costs you money. I've invested some eth instantly, but decided to throw in some extra after the recent Sec repport (https://www.sec.gov/news/press-release/2017-131). Let's be honest, non of us like to pay Taxes.

The current pre-ico ends in one day, so there's still time to invest and to have some money secured as a hedge against the possible BTC and alt crash after the 1st of August. Since I don't expect BTC and the markets to fall more then 50%, it's a safe bet. Even if the price dumps 50%, you still didn't loose. I also suggest taking a look at their Slack to see how development is going. At this moment the team already suprised me with new developments every day. One of the examples is the fact they already rolled out a smart contract to send pre-ico investors IOU-tokens. This originally wasn't planned but IMO shows the dedication to the project. The video explains a lot, including info about the tax deductions. This project could help the community while helping others. The cry for charity is often heard, but there's a lack of project with another focus then solely making profits. I hope this project may bring a positive change and sets an example for the community.
 
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July 27, 2017, 11:53:46 AM
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It looks like we have to wait for more information about this token project, in fact its roadmap is good, just we'll see if this token will be good, like the plan of this project. I will ask permission to bookmark first
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July 28, 2017, 05:07:24 AM
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Not only it's tax subsidized, but because their operations in US is non-profit driven without issuing any recurring income to investors, SEC won't take action.

Also for once there's a potential charity that is also a high risk and high reward investment with steady gains on the currency value over time.

The team is very engaging and responsive on Slack.  Great positive impressions so far.
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July 28, 2017, 06:28:39 AM
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Not only it's tax subsidized, but because their operations in US is non-profit driven without issuing any recurring income to investors, SEC won't take action.

Also for once there's a potential charity that is also a high risk and high reward investment with steady gains on the currency value over time.

The team is very engaging and responsive on Slack.  Great positive impressions so far.

Thanks! That is a great answer to the question about US taking less action.

You also nailed the RootProject's central idea - aligning the interests of investors and the poor. Large firms or individuals can do charity and get profit from doing it, since ROOTS is an appreciating asset.


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July 28, 2017, 06:34:36 AM
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It's one of those great, very detailed, and well-planned projects, hopefully to be the latest breakthrough project, the best innovative I've ever met, good luck and excellent run
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July 28, 2017, 06:53:09 AM
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It looks like we have to wait for more information about this token project, in fact its roadmap is good, just we'll see if this token will be good, like the plan of this project. I will ask permission to bookmark first


Yep, bookmarking it for the September main ICO. I think that the whitepaper wrote about pilot projects in Albuquerque, New Mexico. Those projects do not use any crypto currency. Am I correct to assume that the Albuquerque program was used as an inspiration for RootProject?

Also, another thing. RootProjects claims to have found a name that alligns the interests of investors and the poor. Could your team provide other examples of concepts, that have done same thing?
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July 28, 2017, 02:32:18 PM
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It looks like we have to wait for more information about this token project, in fact its roadmap is good, just we'll see if this token will be good, like the plan of this project. I will ask permission to bookmark first


Yep, bookmarking it for the September main ICO. I think that the whitepaper wrote about pilot projects in Albuquerque, New Mexico. Those projects do not use any crypto currency. Am I correct to assume that the Albuquerque program was used as an inspiration for RootProject?

Also, another thing. RootProjects claims to have found a name that alligns the interests of investors and the poor. Could your team provide other examples of concepts, that have done same thing?

Yes, correct, Albuquerque program was one of the main inspirations for the project. It's been a huge success - reduced homelessness immensely.

The program is now being replicated across different states in USA.

You can read more about the program here: https://www.cabq.gov/mayor/priorities-initiatives/initiatives/theres-a-better-way

RootProject essentially takes the idea and "puts it on steroids". ROOTS is a way to align the interests of investors and the poor, and thus those programs will be much better financed.

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July 28, 2017, 05:58:44 PM
 #13

I sincerely believe ROOTPROJECT will be killing more 'birds' than one. Not only the displaced and impoverished get to live a more dignified life that will help boost their self-confidence and feeling useful and a part of society again but donors and 'helpers' will get the tax breaks as well, which is clearly a win win for all parties involved.
Another area that this project will help in is to give crypto and blockchain tech a good name as more often than not, outsiders often think of Bitcoin or Altcoin technology being associated with criminality at large. When I say to them that criminals have been using FIAT for centuries they start thinking differently.


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Blocklancer - Freelance on the Blockchain


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July 28, 2017, 11:35:27 PM
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This great pre ico project is almost over, let's grab it fast

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July 29, 2017, 12:12:45 AM
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I sincerely believe ROOTPROJECT will be killing more 'birds' than one. Not only the displaced and impoverished get to live a more dignified life that will help boost their self-confidence and feeling useful and a part of society again but donors and 'helpers' will get the tax breaks as well, which is clearly a win win for all parties involved.
Another area that this project will help in is to give crypto and blockchain tech a good name as more often than not, outsiders often think of Bitcoin or Altcoin technology being associated with criminality at large. When I say to them that criminals have been using FIAT for centuries they start thinking differently.


You nailed the concept and the main idea. Bitcoin and crypto currencies are viewed in a negative light by a large proportion of population. Once people see that crypto can be used for a nobel cause, they will likely change their mind about the whole crypto space.

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COSS: CRYPTO-ONE-STOP-SOLUTION ICO 8 Aug


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July 29, 2017, 03:34:30 AM
 #16

Pre-ICO will end soon, there are only 2 hours left before it ends. The project has already collected 1200 ETH, which is more than twice as much as they expected. Based on these figures, we can say with confidence that the project is becoming known, popular. Let's see how the ICO will end. But I think it will be successful as well.

       Whitepaper  ⚫  ⚫   ⧯ Multi-Wallet   ⧯ Exchange   ⧯ Merchant Platform   ⚫  ⚫      ⧉ ICO Details
        ⚫  ⚫     ⚫  ⚫    ░░▒▒▒▓▓ ⧫ COSS.IO - Crypto One Stop Solution ⧫ ▓▓▒▒▒░░     ⚫  ⚫    ⚫  ⚫
    ░░▒▒▓ COSS Token - An ERC20 based Token - revenue generating cryptocurrency ▓▒▒░░
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July 29, 2017, 03:41:39 AM
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Pre-ICO will end soon, there are only 2 hours left before it ends. The project has already collected 1200 ETH, which is more than twice as much as they expected. Based on these figures, we can say with confidence that the project is becoming known, popular. Let's see how the ICO will end. But I think it will be successful as well.

yes ,its very hot ,although this is my first look at all of this project, but it sounds great , going to invest and see what happens

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July 29, 2017, 10:12:03 AM
 #18

Thank you and the crypto community!  Together, just three weeks after we put our work out to the community, we have,
 
- raised 1300.46 Ether, 260% of our Pre-ICO goal
 
- put together a 1000+ person Slack Team

- continued development and made our first hires

- begun work on the legal documents and preparing for our Sept 5th ICO!  

Check Back here on Monday for further details.

Regards,
Nick

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August 01, 2017, 06:56:01 AM
 #19

Thank you and the crypto community!  Together, just three weeks after we put our work out to the community, we have,
 
- raised 1300.46 Ether, 260% of our Pre-ICO goal
 
- put together a 1000+ person Slack Team

- continued development and made our first hires

- begun work on the legal documents and preparing for our Sept 5th ICO!  

Check Back here on Monday for further details.

Regards,
Nick

Any further news now or are we quietly preparing for the main ICO? I will try to hit the slack room when I get a chance later today.I really have my heart in the ROOT PROJECT as I know what it's like to be a down and out, I have been there and believe me not all people are as strong to STAY ALIVE as I was at that time.


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August 01, 2017, 09:41:12 PM
 #20

Thanks again to everyone!  With ether's appreciation back to normal price levels, we're above 300k, our initial hard cap.  Very exciting things will start happening regularly, and we are excited to be working with this initial slack team and all our initial contributors as things really get going in the ICO.  The response in person has been even more impressive than online.  We're going to be able to help a lot of people with this. 

Thanks again,
Nick

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