Cassie Heart on Warpcast

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This week, Q Inc has changed course with speaking with investors. Given I receive a lot of cold opens from investors on Farcaster, I would like to share that change with everyone publicly, and why. Moving forward, we refuse to even begin conversations with funds who have ever (or intend to) engaged in token warrants. It is clear our values and beliefs are diametrically opposed, and this is a far easier filter to save ourselves the time. It has been a long path to fundraising principally because we are operating from a perspective that as a company collaborating on a fair launched project, we can not and will not do token warrants. Despite being upfront about this, this topic has resulted in a lot of time wasted in talking with crypto funds, because they do not believe equity has a path to return for them, and ultimately decline. This is very telling because if they don't believe the company will be successful what use are the tokens, unless...?

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Nico Gallardo 🍄

thank you for sharing Cassie i couldn’t relate more to this, we’re currently facing similar dilemmas and looking for solutions… im curious, what’s keeping you from just selling the token to the community as a fair launch? e.g. using @juicebox im happy to share an approach we thought about and what we think are pros and cons of doing that all in all, count on me on the crusade to make the industry cypherpunk again

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a fair launch precludes this, because the only way to accumulate tokens is to earn it by protocol. we don't engage in or encourage speculation on the utility token, because it is not an investment, it's a utility token.

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Nico Gallardo 🍄

oh i see, you want a bitcoin style fair launch and not “pre-mine” a few tokens to sell (ethereum style - which in many people’s interpretation it was also fair as in “no preferential rights”)? im curious if you’re completely closed to the second option. we’re also exploring fair ways to get funding, and i respect your opinion a lot especially after reading this thread

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This is our vision for $PRE from our project /precog Easier said than done! According to @0xmarto this is like proof of work. In our case: "proof of forecasting".

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Midnight Marauder Ⓜ️

@midnightmarauder.eth

Incredibly inspiring explanation. Have you considered using a public goods platform like /octant to raise capital?

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