Quote from: 8-bit-Party on September 09, 2015, 05:52:10 PM

Quote from: CryptoClub on September 09, 2015, 05:45:53 PM

Quote from: 8-bit-Party on September 09, 2015, 05:27:40 PM

Quote from: defaced on September 09, 2015, 04:05:11 PM

90% of the "premine" is owned by the community, and will be stored in a democratic DAO.. again.. ran by the community. They are the communities funds, and the community will vote on how they are spent.

There ain't no such thing as communities fund. This is cryptocurrency, not credit union.

There is now. As it will be controlled with smart contracts the community literally controls it. For example, someone wants to make some DAPP and be paid for it in EXP, or someone wants to add on something of value to Expanse, that would be up to the community to vote for it to happen (be paid for) or not. Let's say the community wants changes to the design, again, up to the community. Not just with words, but with contracts.

As we can assist with marketing, people might also be able to make a DAPP and get paid for it, and get free marketing in addition. Since that would be mutually beneficial to holders of Expanse.

Please elaborate how this voting would look like. I guess I might find an answer in ethereum docs, but I want to understand it ASAP as it sounds really interesting.

Smart contracts would control the release of funds for 90% of the reserve. The Expanse Organization would vote on the use of all of these funds released slowly over time. The team gets a 1/3 vote, Holders (not the team) gets a 1/3 vote counted per EXP held, and the Advisor Board nominated and voted in by the team and the holders gets a 1/3 vote. Dan and Franko will go into more detail about the contracts later, but it will be code that prevents just the team using this a certain way, or just the holders, or just the advisor board. It would take 2 out of 3 sections to pass. Anyone can suggest an idea to be voted on, even those not holding Expanse.