Quote from: Agent86 on April 22, 2014, 05:51:07 PM

To any bag holders who lost money, be sure to thank the geniuses at the MasterCoin protocol who came up with this IPO scheme but don't expect them to be called out by MaidSafe (their new biggest shareholder) without A LOT of pressure.

If you make an analysis of the numbers the most safecoins goes to very view people and it is obvious that they are people from mastercoin and in my opinion from maidsafe people as well. You must be dumb not to see that!That means that about 80% from the about 460.000.000 coins (10%* of all) +15%* for the developers + 5%* for the core developement team it is like talking about 25%-28% PREMINE of safecoin !!! so now I think the 10% premine from Shatoshi Nakamoto was fair enough!

see also the list of "people" have get the majority of safecoins
http://www.mymastercoins.com/Investors.aspx?CurrencyID=3

* a: Current MaidSafe investors/shareholders.

The current MaidSafe investors have invested for the past 8 years with complete faith and a strong desire to make a difference. These investors have been the very reason the technology is now developed and this proposal possible. Five percent of the safecoin issue will be laid aside for these investors and as safecoin is increasing in value, current investors will be able to swap their shareholding in MaidSafe.net for the coins. The coins will be held by the MaidSafe Foundation for issuance at the request of each shareholder. The safecoin here will be allocated at the point miners are introduced onto the network.

This allows investors to be rewarded for their help over the years and will also allow MaidSafe equity to return to being owned completely by the Foundation. This approach will ensure that MaidSafe as a company is not in charge of the SAFE network and shareholders are treated with the respect they deserve. When they are allocated safecoin they can hold these as any backer will today.

b: Crowd Sale Participants

A crowd sale will enable everyone worldwide to seed and be a part of the SAFE project. This will last until MaidSafeCoin are sold out (circa $8million). If the all coins are not sold the event will end after 30 days. The crowd sale will enable a direct purchase up to ten percent of MaidSafeCoin. It is anticipated that soon after the crowd sale commences, MaidSafeCoin will be listed on exchanges and will be tradable, right up to the release of safecoin.

These crowd sale participants will be buying MaidSafeCoin, an intermediary coin that will be swapped on a 1:1 ratio for safecoin once the full SAFE network is launched. Purchases will be recorded in the bitcoin blockchain via the Master protocol suite. MaidSafe will be running a test net initially and will potentially need to bring the network up and down during testing. An intermediary coin is required as coins may be destroyed from time to time as the network is restarted

Particpants will be able to purchase MaidSafeCoins using either bitcoin or mastercoin with payments being made via a website: BuySafeCoins.com to the MaidSafe Foundations exodus address. This address will be published on both the crowd sale website, MaidSafe's own site and also the SAFE network site (www.safecoin.io) prior to the commencement of the crowd sale. Once funds have been received MaidSafeCoins will be automatically generated and will be sent to participants mastercoin wallet. If a participant does not already have one the wallets can be downloaded for free from: http://www.mastercoinwallets.org/. At present only Windows wallets are available, however a web wallet will be available soon.

The MaidSafe coins purchased will be credited as safecoins to the participants safecoin wallets as soon as the full network is launched and farmers appear online. This allows immediate benefit to the project and will demonstrate the desire of all backers to decentralise the Internet, enabling a plethora of new and exciting companies to emerge and provide true value at minimal cost.

Funds raised from this round will be held by the MaidSafe Foundation and will be utilised to house the MaidSafe core team and provide financial assistance for a period of three years. It is assumed that after three years, the core MaidSafe team will have grown significantly and introduced further innovations into the space. There is no founders pool and this is a very important aspect of this project. No team should be rewarded by safecoin who have not provided value in some respect.

Developers

MaidSafe proposes to reward developers in 2 ways. Firstly, safecoin can be earned by contributing bug fixes and code that are accepted into the master branch of the SAFE codebase. Secondly, developers that create apps that do not charge end users and are of benefit to the community will also be rewarded. The issuance mechanism for both groups will come via the MaidSafe Foundation. MaidSafe the company will also generate coins by providing P.O.R when they seed the network with several hundred nodes during final platform testing. This seeding stage will be public and others are welcome to contribute resources. It should be acknowledged that until the network is declared ready for general use that the coins may be destroyed from time to time and the network restarted. There will be no private or hidden seeding of the network and announcements will be made at a minimum via the MaidSafe mailing list during these events.

15% of all safecoin earned will be allocated to the developer pool. This will ensure the developer community is highly motivated and rewarded for providing free-to-use applications and improvements to the underlying codebase that utilise safecoin as their revenue model. It is possible that 10% of these coins maybe recycled if a an idea of automated developer awards comes to fruition.

5% of the developer pool coins will be given to the core developement team. Without their hard work and dedication the SAFE network would simply not have been possible. A further $100k of safecoin will be allocated from the developer pool to those who gave their time and commitment to develop this white paper and for early project coordination. Without the efforts and expertise of these individuals this paper would not be as comprehensive and would have taken far longer to produce.

It is proposed that code commits and third party projects be chosen by polling the MaidSafe developer mailing list and payments will be allocated from the Foundation to successful projects/code enhancements.

source:
https://github.com/maidsafe/Whitepapers/blob/master/Project-Safe.md