Re: [ANN] SINGULARDTV (ETHEREUM) Sunday, Oct. 2 at 9am EST / 9pm GMT+8 (TIME UPDATE)
they are transparent. that shit is in the white paper. read before you speak.
I did read it, not alone either,....several times.
"THE VAULT
The Vault, which is owned by the Workshop, will hold 400 million SNGLS that belong to S-DTV Founders Zach LeBeau, Joseph Lubin and Arie Levy-Cohen. Founders have pledged these tokens be locked down via smart contract system for a period of 2 years. During this time Founders are restricted from collecting dividends or revenue and have pledged all revenue claimed by their 400 million tokens to be re-invested back into S-DTV to produce projects and grow the ecosystem. Upon completion of this 2 year term, SingularDTV Founders can reinitiate another lockdown or use the SNGLS in other manners befitting SingularDTV. Founders will receive commensurate compensation as budgeted on a per project basis to act as SingularDTVs executive team.
REINVESTMENT POLICY
S-DTV Founders will lockdown via smart contract their 400 million SNGLS in the S-DTV Vault for a term of 2 years. Any revenue from these SNGLS will be reinvested into the S-DTV projects outlined above in PROJECT FUNDING. Upon completion of this 2 year term, SingularDTV Founders can reinitiate another lockdown or use the SNGLS in other manners befitting SingularDTV."
Can is permissive....
2.
LAW
allowed but not obligatory; optional.
If you've ever signed I contract, you should be aware of the differences between "shall," "will," "may," and "can." <---very important words in tort law....
I'm out!
They literally say they can use it for benefitting SingularDTV.
it needs to be explained in detail. what cjmoles said is right. can means either of two options stated or whatever. it leaves the door open for 3rd option which can be "other manners befitting only Founders".
got me confused as well. 400Mil SNGLS is huge portion of tokens to speculate about.
This is not speculation how can you tell where business will be in 2 years and how movement will be? No business knows this especially in crypto - there is an outlines plan and that plan is to build the system. I am sure the staff will comment.
The primary reason for the 2 year lock is to demonstrate to the World Audience that this is not a short term venture for SingularDTV founders/devs. We are in it for the long term, to build a platform with long term utility. The most important thing to us/SingularDTV is to build a decentralized entertainment industry. Of course this will take much longer than two years.
During this two years we strive to add tremendous value to the SingularDTV ecosystem and develop an important strategic position in the space. When the Vault unlocks there are 1 of 2 things that will occur. 1.) We initiate another lock, or 2.) use tokens to further develop the ecosystem. We have a specific 2 year plan outlined, but still many emergent considerations will come into play that are unknown or unforeseen. In building a decentralized entertainment industry our focus is on being a participant in what we believe will become a multi-billion dollar smart contract rights management industry in the next 3-5 years. We will utilize company resources to the best of our ability and vision so that we give SingularDTV and its ecosystem the best chance possible to do something progressive and important - or as important as an entertainment/tech platform can be.
Our platform is greatly inspired by the decentralization tenet of transparency. It is why we have teamed up with Balanc3 to ensure real-time auditing of all SingularDTV transactions in both crypto and fiat and to make them available on the blockchain for all the public. So we are happy to answer any questions you may have.