Rule Change
Dear Synereo community,
It wasn’t an easy decision, but we have resolved to make a change to the rules of the crowdsale.
Initially, we wanted the USD/AMP rate to remain the same throughout the entire period of the sale. Synereo did not have a pre-sale or distribute any coins until this point, and we wanted everyone to have bought them for the exact same price. Keep it simple.
We wanted to allow people to purchase AMPs at their leisure, and, perhaps more importantly, to prevent the market being skewed later on. A noble goal(?), but perhaps a naive one.
Although we have received contributions from over 100 backers in less than two days, we are hearing from many, many more that they are sitting on the fence waiting to see if others go in first. It seems that the crypto-community is accustomed to the sliding rate mechanism by now, and it’s hard to break the habit: people are — and who can blame them? — trying to get as much information as possible before making a decision about what to do with their money.
And so, to sweeten the pot a little, we’ve decided to establish the following mechanism:
Each AMP sold in our crowdsale will be more expensive than the one preceding it.
Each dollar contributed will purchase fewer AMPs.
This means that people who believe in Synereo and who choose to support it sooner will enjoy a greater AMP reward.
Hopefully, this will provide those who are waiting on the sidelines the extra little bit of motivation required for them to pull the trigger and join our community of contributors; those who will also enjoy early access to the first Synereo application once it is released.
Here are the exact details:
The first dollar contributed is worth 185 AMPs. The six hundred thousand and first (600,001) dollar, the middle point of the sale, will be worth 154 AMPs.
The last dollar contributed in the crowdsale will be worth 123 AMPs.
The second dollar is worth 185 — (185–154)/600,000 AMPs, or 184.99994833 AMPs. The one hundred thousandth dollar is going to be worth 179.8333 AMPs.
And so on.
The sooner you buy, the more AMPs you receive
What does this mean for people who have already contributed? Well, you’re in luck! Your early support means you will receive a greater AMP reward than what was previously promised to you.
People who jump in now will also enjoy a higher reward than before.
Another change we are making is that all coins allocated for this crowdsale and not sold will be destroyed rather than returned to their wallet pool.
This means that the total value of coins out there will be lower if we don’t reach our sale cap, giving our supporters another hedge against their early contribution: with a lower cryptocurrency marketcap valuation, there will be more room for growth for their AMPs, and their relative stake of the overall AMP pool will be higher.
Social networks are the most important tool we have right now for getting an insight into the collective stream of consciousness and we need to be able to read it — as well as focus our collective attention — without the process being subject to the kind of manipulation that is inevitable when that consciousness is slaved to the financial goals of external shareholders. There absolutely cannot exist a social network that achieves this without the grassroots support of a community dedicated to making this a reality.
We appreciate your support.
Dor Konforty,
CEO, Synereo
Originally published at blog.synereo.com on April 15, 220.
