Pre-sale is only for WHALES! They can sell all the token to only 8 investors. No problem, every project does the same!
I dont know, i just think this project is similar to steemit, but I have one question : how would promoters work on the platfrom?
Hi, thank you for your question. We respect Steemit's success so far but we believe our platform is fundamentally different from Steemit in several aspects. First, Steemit is not truly decentralized. The problem lies with the distribution of Steem Power which, from the very start, was designed to concentrate among Steemit Inc. employees and developers. In 2017, it was estimated that the top 247 accounts on Steemit (most of which are probably owned by the developer and his ‘friends’ through duplicate accounts) owned ~87.50% of total stake, without including the main Steemit account which is also controlled by the dev. (
https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156). In 2017, Oxfam calculated that just 8 people controlled the same wealth as 50% of the rest of the world. (
https://steemit.com/steemit/@eroche/distribution-of-steem-and-steem-power). This means that a few people control the content on the Steemit platform. Imagine Warren Buffett's vote for a presidential nominee counts thousands more times than that of an average Joe. REOS, on the other hand, is truly democratic. Its unique "Voting with Stakes" mechanism ensures a democratic process of voting by community members. Each member puts in the same amount of REOS as stakes to vote for a piece of content, which means each vote counts the same.
The role of the Promoter is to initiate the voting (content validation) process and set the rules for the content validation (such as how long the voting process takes). We require that each Promoter has a minimum number of stakes (currently set at 100K REOS) because we want them to act responsibly. During the content validation period, the result is hidden from the community until the completion of the process. This ensures that we dig out the true worthiness of the content for the REOS community. On Steemit, users upvote or downvote for a piece of content and the voting power is based on the stakes a user owns. However, the users don't really lose stakes if they vote irresponsibly. On REOS, one can lose tokens if he or she votes irresponsibly. Our "Voting with Stakes" has some similarities to futures prediction markets, which have proven to be more accurate than polls.
