Post
Topic
Board Announcements (Altcoins)
Re: [ANN ICO] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat*
by
Eliphaz Fimk
on 13/07/2016, 08:36:17 UTC
Ok, so you're going to collect 300+ millions (some 60%) of FIMK , right? what for...?
Your excellent question slipped by as I had addressed it on the FIMK forum, and it was quoted here on this forum too:

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The FIMK option and its better rates compared to other HEAT credit purchase options are mainly a favor to reward the loyal FIMK stakeholders, and redeem the FIMK donations received in 2014 for a no-loss proposition for the patrons.

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What is the purpose of collecting millions of FIMK?
To reward the FIMK holders. As we haven't been able to help to improve the FIMK market rate further, this arrangement gives FIMK holders the way to receive more value than the 160 satoshi per FIMK level they put in FIMK donation period.

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It's significant amount of unspendable (or hardly spendable) assets, so you're actually reducing your ICO income.
Exactly. That's accounted for. We take the loss to offer a valuable option for FIMK holders.

It's not yet decided what will be done with the FIMK we collect. One quite likely option is that they will be burned ie. removed from the FIMK blockchain.

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Do devs own any FIMK assets?
Assets, as in asset exchange? Or FIMK tokens? FIMK developers do own FIMK.