Post
Topic
Board Announcements (Altcoins)
Re: [ANN] ACT- Citizens First🔥Supporting Social Justice and Social Accountability🔥
by
daoact
on 25/06/2017, 20:57:48 UTC
I don't get it. Another OK project, but why exactly do you need the tokens? Can't you just do this as a startup and use already circulating coins as medium or whatever?

Anyway, good luck.

Hi LewiesMan, Thank you so much for spending time reviewing the project. Please dig into the white paper and contact us if you want a deeper dive. The ACT Token is critical in this true DAO. Like with Steemit it is the unit of account for another vesting token ACTION, which curators must convert to in order to secure curation rewards. That discourages speculation, and ensures curation that is the longterm interest of the platform. Because ACT help govern how curation rewards are distributed, and 15% of platform revenues are used to reward curators, as the platform grows in scale so the amount available for curation rewards increases. Its a big topic, and we prefer to use white paper as the reference point. Happy to continue this discussion!