I don't understand one thing about this.
This startup is intended to give "crowdfunders" equity in return for investing in their startup idea...
So shouldn't people who "crowdfund" your startup receive equity in your startup in return? This is what you stand for, however, I don't see any reference to you actually practicing what you're preaching.
I apologize if a missed a point and this is what you are actually doing.
"Equity" is a term that has a very specific legal meaning in many jurisdictions which includes a specific set of rights attached to a pre-existing legal framework. What we are providing is "cryptoequity" a programmable set of rights that is customizable depending on the project. This does include some degree of giveback as specified in
our manifesto.
Correct me if I'm wrong but my understanding is that
1. The swarm platform is for startups to "crowdfund" their ideas
2. People who "crowdfund" into the swarm startup, receive dividends/equity from all startups that use the swarm platform
This is basically correct, although it is worth noting that the 'dividend' feature of Counterparty which we are using does not necessarily correspond to dividends in the traditional sense. The type of giveback to the people who fund the project probably will likely substantially depend on the type of project (and on legal jurisdiction).
Also, are there plans for an audit somewhere down the line? Cheers
We will be issuing our June report soon. I have no plans for an external audit but I'm very open to suggestions as to how to do this.