jtiannelli
commented
6 years ago Closed jtiannelli closed 6 years ago
jtiannelli
commented
6 years ago 
luisivan
commented
6 years ago Thanks for opening the issue, although this doesn't really follow the guideline for applications (since there's not a proposal for this grant, see https://github.com/aragon/nest/blob/master/Guide_for_submitting_a_request_for_funding.md) so I'll have to label it as rejected until the proper process is completed. I also have a question: if you plan to ICO, why the need for a grant?
jtiannelli
commented
6 years ago Wow! I am honored to get a response from you. My initial goal was to seek no grant funding, but we realize we will have to advertise our token, we were unprepared for the costs, considering this is a non-profit organization.
The reason we need grant funding is that when someone contributes to this ICO, the foundation does not get access to that money, the purchase is only executed once the smart contract verifies the investment is deposited into the backing index of crypto currencies. Usually during an ICO the team retains a high value of tokens for themselves to spend. However, this token is supposed to be owned and operated by the community, we will not be keeping ICO funds so will still need to fundraise to keep the token fund 100% backed by the cryptocurrencies that make up the index. Essentially we can't spend any of the money from the ICO because the community controls it.
I accept your rejection and will have the technical part of the team help established better follow the proposal process. We are currently struggling with some of these details because we are early in the process and are making some of those final decisions. We are seeking advisors to help us make those decisions if you are interested.
After that, even if this token is not perfect for the Aragon Nest program, I appreciate what you guys are doing and we will certainly be investing in Aragon because of your core principle once the fund is established.
Thanks again, Joe Iannelli
On Mon, Feb 5, 2018 at 10:08 AM, Luis Iván Cuende notifications@github.com wrote:
Thanks for opening the issue, although this doesn't really follow the guideline for applications (since there's not a proposal for this grant, see https://github.com/aragon/nest/blob/master/Guide_for_ submitting_a_request_for_funding.md) so I'll have to label it as rejected until the proper process is completed. I also have a question: if you plan to ICO, why the need for a grant?
— You are receiving this because you authored the thread. Reply to this email directly, view it on GitHub https://github.com/aragon/nest/issues/16#issuecomment-363112413, or mute the thread https://github.com/notifications/unsubscribe-auth/AiYfnX3Bf_IzkSTdFfFDIw4PcqfAywMDks5tRxl_gaJpZM4R4w0U .
luisivan
commented
6 years ago Got it. Thanks for the kind words! @jtiannelli
jtiannelli
commented
6 years ago Even though this is currently closed. And ETF Token Foundation is not yet ready for Aragon Nest. We are still moving forward and are updating the draft whitepaper daily. This is the link for where we post the latest updates. A lot has improved in the last two weeks. https://www.etftoken.org/whitepaper
I think we share the same principles of seeing decentralized self governing tokens as the ideal future for blockchain organization. And hope to continue to stay in touch with your organization as we develop ours.
Best regards, JT
On Tue, Feb 6, 2018 at 4:10 AM Luis Iván Cuende notifications@github.com wrote:
Closed #16 https://github.com/aragon/nest/issues/16.
— You are receiving this because you were mentioned. Reply to this email directly, view it on GitHub https://github.com/aragon/nest/issues/16#event-1459646857, or mute the thread https://github.com/notifications/unsubscribe-auth/AiYfnef4V8PUzthoosb61C_6ejnzmxdqks5tSBbsgaJpZM4R4w0U .
jtiannelli
commented
6 years ago Luis,
I took the last two weeks to make substantial concept and whitepaper improvements and also to get a little further with establishing more of our decentralized team and improving our roadmap. I have updated the pull request to match the instructions for proposal submittal as you requested. Happy to initiate a dialogue with you guys regarding this proposal, I am very passionate about this mission. I think it is a necessary token that people will enjoy holding, and it will in turn support dozens of other world changing blockchain projects and decentralized exchanges that otherwise may not have achieved funding for multi-year successful development.
Thanks for your consideration! -JT
ETF Token Access Token to a Comprehensive Collection of World Changing Blockchain Technology
Abstract
ETF Token aims to create a unique and decentralized community with its own comprehensive collection of world changing blockchain technology. Utilizing smart contracts and a self-governing structure, this token establishes a fund which contains a collection of innovative, socially-impactful, and valuable blockchain tokens. Every ETF token purchaser is a part of that community and every ETF Token is backed by that fund.
It establishes a symbiotic relationship with the best that blockchain projects available. By purchasing the tokens of incredible blockchain projects and holding them in a fund, this community of token holders adds established value, quality, and diversity to their backing fund. In return the projects whose tokens we purchase have additional Ethereum to contribute to their growth. This increases each backing token’s value potential, which in turn increases the value potential of the fund and the ETF token.
The tokens this community holds are issued by impressive organizations that offer innovative solutions for the world. ETF Foundation will select tokens which are maintained by an exceptional team, product and an ethical vision that our community can support. ETF Token and fund is not just for the experts on blockchain to participate. The token holders form a sociable community that helps direct the fund. They vote on great board and team members and fund managers to oversee the day-to-day operation of the decentralized organization, the blockchain, and the fund.
Deliverables
Grant size
Funding: Up to $50k in ETH, split into chunks paid out over achieved deliverables.
Success reward: The continued support and friendship of this community!
Application requirements
Concept: ETF Tokens provide value through access and voting rights to manage an ETF Token Holder’s DAO. A DAO is not a company, this token is not controlled by anyone except for the token purchasers. The organization sets forth decentralization as an important principle. Never to grant ownership of itself to a particular business or individual.
ETF Token is the first easily accessible token fully backed by the best of blockchain. The Token is created in a 1:1 ratio with a fund controlled by the community. That fund purchases and holds a diverse collection of both established and newer blockchain projects that are deemed valuable by our community.
The community will hire the day-to-day managers of the fund and operations and all of the Ethereum contributed by the members is transferred and held in other blockchain project’s tokens, specifically the ones that show the potential to grow in usefulness and value. The blockchain smart contracts allow that fund to be guaranteed and auditable with updated fund statistics delivered instantaneously.
This Token decentralizes and transforms the concept of holding a collection of blockchain tokens. It re-humanizes it by not simply algorithmically selecting the top tokens by market cap but rather by selecting the ones with principle and projects that our own community believes in. It de-corporatizes the decision making by enabling the token holders to self-manage, self-govern, and self-develop while providing them with the resources to self-scale. It revalidates the notion that a diversified blockchain project backed token can be established, it can reduce volatility through competent partnerships and associations. This token aims to provide intrinsic and audible value for the token owners. It does this through the transparency of blockchain and the transparency of the community managed organization we have established to maintain it.
Whitepaper Draft: https://www.etftoken.org/whitepaper
Development timeline
The development timeline will be the following one in regards to each deliverable:
Finish White Paper – 03/12/18 Finalized Whitepaper Finalized Strategic Planning Document Finalize contracts for Executive Team
Stage 1 Development 03/26/18 Implement Pre-Sale Token Specifics into Aragon Protocols
Stage 2 Development 04/09/18 Implement Pre-Sale Token Specific Smart Contract for Fund Auditing
Stage 3 Development 04/23/18 Establish Pre-Sale voting procedures/smart contracts for Community-based fund/organization decisions
Complete Security Check – 04/30/18 Finish Test deploy/Security Check Implement any necessary patches Pre-Sale Begins -05/01/18 Deploy Pre-sale site and functionality
Pre-sale Ends 05/31/18 Conclusion of Pre-sale
Stage 4 Development 06/15/18 Implement Functioning Token Specifics into Aragon Protocols
Stage 5 Development 06/29/18 Implement Functioning Token Specific Smart Contract for Fund Auditing
Stage 6 Development 07/13/18 Establish Final voting procedures/smart contracts for Community-based fund/organization decisions
Complete Security Check – 07/31/18 Finish Test deploy/Security Check Implement any necessary patches
Delivery Date 100% Functioning Token and Fund Convert/Exchange Pre-sale Tokens 08/01/18 ETF Token and Fund Go Live! ETF Token Full functionality 1.0 released
Testnet launch will be expected during April 2018, with mainnet launch for initial pre-sale fund building tokens in May. 100% Development by 07/31/18.
ETF Token White Paper 1.4.7.pdf
2018