Taylor Phoenix: Rising from the ashes

Our plan to recover Taylor after our token sale funds were stolen

Fabio Seixas
Jun 3, 2018 · 4 min read
  1. Get a full-time job and work on Taylor at our spare time;
  2. Find an Angel or VC to fund us;
  3. Run a new token sale using the ~2,000,000 remaining TAY tokens.
  1. It’s not fair to sell the ~2,000,000 remaining TAY tokens when we didn’t even release the app.

Cost optimization

The truth is: to keep building the product in a reasonable time frame, we must be full time dedicated to Taylor. It would not work if we were working only during our spare time or part-time. We must have 100% of our focus on it. That means we still need funds to pay for wages, infrastructure costs, etc.

Survival fund

After the cost optimization, we knew how much we needed to operate for about six months, which is the deadline we expect to achieve the break-even. We needed about $80,000. Note that six months is half the period we proposed in the last statement.

Our new roadmap

Our master plan to overcome our situation is solid. We know exactly what to do and when to do. Of course, this will affect our original roadmap.

June 2018

  • Raise the survival fund by selling privately part of the founders’ tokens;
  • Finish the improvements and necessary fixes on the app;

July 2018

  • Issue a new token and distribute to the legit TAY token holders. The tokens will be kept locked to help us focus 100% on the product. Details on the new distribution to be announced;
  • Release the beta version and invite first users;

August 2018

  • Start acquiring paid customers. It will help us achieve the break-even as planned;

September 2018

  • Decide if we will sell the remaining ~2,000,000 tokens to invest in the company (new team members, marketing, exchange listing costs, etc);

October 2018

  • Unlock the tokens;
  • Prepare for listing;

November 2018

  • List the new token in an exchange with a good volume;
  • Distribute bounty tokens;

Conclusion

I have to confess: It has not been easy to handle these many situations in a short period. It’s been quite challenging to have clear mind when part of our community keep calling us exit scammers. Well, if we were exit scammers, would we still be here?

Taylor

Crypto Trading for Everyone

449

    449 claps
    Fabio Seixas

    Written by

    Passionate Entrepreneur. CEO and Founder @ Softo, Founder at @leadgrid, @SmartTaylorApp, @Camiseteria, startup mentor, TEDx Speaker.

    Taylor

    Taylor

    Crypto Trading for Everyone