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Ixian Premine2020-05-03 17:32:46
In our previous post (Ixian Affairs), we addressed certain points raised by some of our community members. The post itself became an open invitation to all who can contribute to the project. One of our members proposed an incentive model for potential contributors, one that would see contributors get reward in the form of IxiCash for various tasks they performed. It is safe to say that this model has its benefits, and we have observed similar approaches by other projects and communities.
When it comes to Ixian, these rewards would be paid out from our pre mine. For those that are not familiar with this information, Ixian has a 2BN IXI pre mine, half of it was intended for team reward and the other half for the purposes of development and marketing. You can find more details on https://docs.ixian.io/tech_docs/ixicash.html.
We want to make it clear that we’re doing things more on the safe side here at Ixian. That is especially true for any potential legal implications, and we rather wait for regulators to clear some things up or until we get enough information before we move forward. Our motto is “better safe than sorry”. Having said that, we have to state that our pre-mine hasn’t been touched yet, mainly due to all the potential legal implications that come with it. We wanted to wait for regulators to make up their mind about specific details regarding cryptocurrencies/digital assets before doing anything potentially damning for the project. We’ve successfully predicted that regulators will have issues with ICOs (which resulted in projects returning money, paying fines, shutting down and in some cases people involved even being sentenced to jail), before anyone was talking about it and when everybody was jumping on the ICO train.
We are now at a point where we need a good legal opinion about the pre-mine with clear explanations of what can potentially go wrong. Until we have that, and are absolutely sure about it, the premine will remain untouched. We hope that this clears out any misconceptions regarding the pre mine and all the implications it has for Ixian.