Brickbat1
Elite Member
- Mar 22, 2010
- 2,366
- 1,391
Its a legal minefield for BHW. This can only work if it is pitched as a JV in the JV section. This way, BHW is not liable for all the required reporting and maybe Tax liabilities.
My suggestions to get this off the ground:
1. Members get allocations based on an IFO (initial farm offering - available on Pancakeswap). To be able to do that, they obviously have to have LP tokens as liquidity providers to supported pools. This way, everyone gets an equal chance to get the tokens, not by the undemocratic ICOs. You only get more, when you stake more. This means that very early in the project, it already has a good chance at liquidity via the liquidity provider requirement to get in.
2. Obviously, for 1 to fly token needs to be on Binance Smart Chain as a BEP-20 token. This enables scalability as today, transactions on Pancakeswap are already outstripping other Ethereum based Defi platforms which require proof of Work to confirm transactions, guaranteeing that fees will always be high. But with Pancakeswap , fees will always be super low and transactions fast, making it easy and cheap for any and everyone to get in.
3. All marketing, design etc activities by members be paid for with airdrops. Project will not owe anybody. Appropriate rates for various activities can be set beforehand based on actual market rates for the provided activities.
4. Rather than all this aimless chatter on this thread, a few serious and capable members can form a planning committee right now to get this of the ground as a JV in the JV section.
So....who will bell the cat and initiate the JV group? For it to work, it has to be a democratic setting, with one person one vote on all issues with modalities for how to resolve ties. If one person is perceived to have an undue advantage over others, it will undermine the viability of the project.
My suggestions to get this off the ground:
1. Members get allocations based on an IFO (initial farm offering - available on Pancakeswap). To be able to do that, they obviously have to have LP tokens as liquidity providers to supported pools. This way, everyone gets an equal chance to get the tokens, not by the undemocratic ICOs. You only get more, when you stake more. This means that very early in the project, it already has a good chance at liquidity via the liquidity provider requirement to get in.
2. Obviously, for 1 to fly token needs to be on Binance Smart Chain as a BEP-20 token. This enables scalability as today, transactions on Pancakeswap are already outstripping other Ethereum based Defi platforms which require proof of Work to confirm transactions, guaranteeing that fees will always be high. But with Pancakeswap , fees will always be super low and transactions fast, making it easy and cheap for any and everyone to get in.
3. All marketing, design etc activities by members be paid for with airdrops. Project will not owe anybody. Appropriate rates for various activities can be set beforehand based on actual market rates for the provided activities.
4. Rather than all this aimless chatter on this thread, a few serious and capable members can form a planning committee right now to get this of the ground as a JV in the JV section.
So....who will bell the cat and initiate the JV group? For it to work, it has to be a democratic setting, with one person one vote on all issues with modalities for how to resolve ties. If one person is perceived to have an undue advantage over others, it will undermine the viability of the project.
