Hey Matt — I can’t tell from your photo if you’re my college buddy or if you just coincidentally have the same name and general visage.
Anyway, I thought I’d put the link in the mention of “whitepaper.” Thanks for catching that, it’s up there now.
The pension fund costs are part of the crowdfunded budget. So, sticking with your $100 dollar example,
$10: as crowdfund-fee-as-token-purchase (10% is a standard rate in the crowdfunding industry, and 90% is a standard project spend rate of the best nonprofits)
$45 total labor budget.
— 2/3s of this is in USD as wages
— 1/3rd as ‘pension’ fund. (i.e. 50% of wages earned) Like the fee, cryptocurrency is purchased on the open market. However, unlike the fee, where a portion goes back into the open market to fund operations, all of the pension fund gets locked away until it’s paid out to the person.
So, there’s a premium in labor costs via the pension fund, but since we are doing the project, as opposed to the project initiator, the net cost of crowdfunding with us relative to, say, Kickstarter, is far lower for the project initiator. Also, that premium is going to help poor people. Finally, the tax deductible nature of donations to most (but not all) projects is effectively a very large tax subsidy that dwarfs the pension costs, just by itself.
That help? And are you Matt Nickerson THE Matt Nickerson?