Quote from: Onik Mia on January 30, 2018, 06:10:57 PM

Quote from: Saleemlala on January 29, 2018, 07:22:41 AM

You want 200k ETH for a content sharing platform? That's more than $200 mil +++
Please explain your use of funds properly, why so much?

Thanks. This answers my question, especially the team building part, they really are expensive considering the demand today for blockchain experts with the limited supply of talent.
Looking forward to watching this, all the best

Hello Saleemlala,
Thanks a lot for this important question! You are welcome to contact me directly if you have further remaining questions.
This whitepaper includes all information: https://www.multra-gmbh.com/files/Pumped-Whitepaper.pdf

TO ANSWER YOUR QUESTION

1. Higher hard costs for physical assets
Pumped is not only a content sharing platform but it introduces a new content economy with five pillars that are outlined on page 16 of the Pumped whitepaper. Having a close look on these pillars will show that Pumped is not only a virtual platform but also has real life aspects. The five pillars require higher budget than just software development and marketing.

For example:

   According section 5.1 on page 32 of the Pumped whitepaper, a physical Pumped Residence will be set up. This involves costs for property and a building (hard assets).

   Under section 8.7 on page 46 of the Pumped whitepaper, ICO investors have all time access and even free accommodation and hospitality based on the exchange amount they invest during ICO (physical service and operations).

2. Higher hard costs for talented people and quality services
Talented people that create measurable impact have higher salaries. Highly qualified people with expertise, passion, spirit and discipline are required to succeed with the Pumped mission and to ensure power, prosperity and pleasure in the service of consumers, publishers and investors.

For example:

   We focus on clean business operations especially in legal terms. For that reason, we comply with upcoming regulations beforehand to secure the investment of our ICO investors in compliance with requirements of regulators:
https://www.youtube.com/watch?v=iT_byeL1qMU&index=2&list=PL0Eq8CIcJZgIgAb5CrHphp_2FuWkUKb01

   The DApp development will be aligned with the vision of Vitalik Buterin and the mission of Ethereum:
https://www.youtube.com/watch?v=3tzNpHSKfQA&list=PL0Eq8CIcJZgIgAb5CrHphp_2FuWkUKb01&index=3

   We will need to recruit and retain local teams in various parts of the world to implement and ensure accurately that the exercise bears fruit for publishers and consumers of quality news content. This will be a sophisticated process which requires us to take highly qualified and committed talent on board.

3. Higher infrastructure costs to build a product that disrupts the status quo
Pumped is intended for a global roll-out winning the same relevance for news media as Instagram for photography.

For that reason:

   Since 2014, MulTra GmbH is a limited liability company incorporated in Frankfurt am Main which benefits from German infrastructures and consistently pays taxes to help maintain these infrastructures. Rather than setting up an offshore vehicle to avoid taxes, we have decided to accept the burden of Federal corporate and local commercial tax. Despite high tax rates, we trust that buyers of MTT will appreciate this commitment to the city that allows us to operate under excellent and constantly improving conditions.

   The Pumped Economy is capable of rebalancing revenue streams in a very substantial global industry. Despite the structural simplicity of the Pumped system, its implementation as an addition to the highly sophisticated and engrained global news market system will be a major operation.

   The system will need to be adjusted to different technical and cultural environments in various parts of the world (EMEA, North America, Latin America, China, Japan, Subcontinent etc.). We anticipate that this will trigger the need for adjustments of the Pumped Technology.

The tax burden is mitigated by the fact that the quality which we managed to achieve for the ERC20 compliant code allowed us to proceed without the burden of a pre-sale. This has saved a considerable expenditure and it has relieved buyers of the risk that the token may be insufficient.

The quality focus on the product is confirmed by independent rating on ICOBench:
https://icobench.com/ico-analyzer?ico=pumped

4. Page 49 of the Pumped whitepaper shows the budget allocation for the 200k ETH.

20% - Economy Development
20% - Residence Opening
10% - DApp Development
10% - Rewards Onboarding
2% - Rewards Platform
2% - Publisher Onboarding
4% - DApp Marketing
10% - Contractors
13% - Legal and Administration
9% - Contingency

Many thanks,
Onik Mia [MulTra GmbH]

Thanks this answers my question. Especially the team building, it's too expensive these days considering the demand for blockchain experts and the limited supply of talent for it.
Looking forward to this, will keep a watch.

Saleemlala

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