Clarity Post: for Token Holders, Shareholders and Network Supporters

Autonomi Network Token (incl (e)MAID)
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Hi guys,

Aware of a couple of topics and conversation threads that I thought important to respond to, better to be able to work with and react to ‘official’ and full information, as opposed to conversing over assumptions and/or conjecture.

This post covers:

  • Shareholder/Token Holder Returns
  • Builders and Partners Operations and Incentives
  • White Paper and Next Steps

Shareholder/Token Holder Returns

I know there are several different ways that folks are invested in the network; perhaps you were part of the ICO, you may have bought token (MAID/EMAID) from the market, you could be a shareholder of MaidSafe.Net (the company building the network), or you might be connected to the same through an investment in ‘Bnk to the Future’.

Equally, you could have zero token holdings, or shares, and just be connected to the mission and vision that has been relentlessly supported by you and others.

Whatever the case, there are a few common attributes regarding value (held or realized):

  • The value of the network is represented by its token (‘the network token’)
  • The network is in no way seeking to be centralized, so the only indication of its value will be through its token
  • The token will be required to build on (upload) to the network and will be earned by those supporting (hosting) the network, enabling its perpetual, safe storage function
  • The network token will be generated at the TGE (token generation event) in late January 2025
  • If you are a holder of shares, there is an attribution of token for each share you hold (please see latest Shareholder update for details here), if you are an ‘origin’ token holder (MAID or EMAID) or you have a token allocation granted via one of the early network incentive programs, you will be able to exchange these token 1:1 for the network token.

Upon the release of the updated White Paper earlier this year, there were concerns raised about the potential power that ‘The Foundation’ (the non-profit Swiss entity that is responsible for generating the token) may have. Since then we have taken dramatic steps to decrease its holdings and the reliance it could have had on centralized mechanisms (such as issuing of grants) - the network, after all, was designed to be autonomous …

The team at MaidSafe (some past but also present), will have through an employee incentive scheme an allocation of shares in MaidSafe.Net, like other shareholders, these shares will convert into tokens - meaning the only owner of ‘MaidSafe.Net’, post TGE will be The (not for profit) Foundation. MaidSafe.Net will continue to operate with a small team on (non-breaking) network updates and enhancements, these will include, but not be limited to:

Enhanced Security Features
Network Node Upgrade Features
Mobile-Run Nodes
Native Token Development

MaidSafe (.Net - this is its official name, any reference to this or MaidSafe is the same thing) will not be operating as a ‘for profit’ business, its role will be to improve and support the network through its early years. Outside of the role folks working here will be rightly paid to perform, the only additional incentive possible for doing this necessary and important work, will be the value/appreciation of any network token they hold/own.

I will note here that there is a lock-up period for tokens received by shareholders (including any qualifying employees of MaidSafe) to protect the network and by extension all holders of the network’s token.

Builders and Partners Operations and Incentives

Like many of you, David, myself and others, are excited to begin building on the network. Builders will take many forms and we hope that there will be many different and compelling propositions who will find their homes and users with Autonomi - this will of course benefit all those who use and support the network (growth is good!), and by design and extension, those who hold the tokens for it.

There has been mention of Autonomi Labs, this is a business which will also seek to build on the network (it is currently raising seed capital so its in a position to hit the ground running post TGE to do just that) - I’ve no doubt it will be one of many ventures - there will likely be a lot of healthy competition around the propositions it, and others, choose to develop. I’m sure I’m not alone in hoping as many of them as possible succeed, after all they will be helping the network to grow and be encouraging others through increasing credibility, confidence and customer numbers to join and do the same.

Again, the value of more builders and activity on the network is designed to be reflected in the network’s (Autonomi’s) token. Autonomi of course has no right or ownership over what others are choosing to build or create.

Talking of ownership … all partners and builders are free with Autonomi.

They can imagine, deploy and enjoy their labours in whichever way they choose (I would note here that the network features can only be guaranteed if people are using the official network APIs). Some may charge, some may not, some may build open source, some may not. Whether these products and services are centred around entertainment, education, equestrian sports (…) or anything else, is irrelevant, we see them all as equally important, and only users should have the power to dictate or shape their success. Noting here that the Foundation will still have a fund allocation post TGE that will be sent back to those building on the network in the form of emissions over a defined period of time…

White Paper and Next Steps

Knowing how important the token is (it is how shareholders can stay connected with the network and its growth for years to come), we have spent a huge amount of time refining the White Paper, and have been working in conjunction with the Foundation Committee to reduce the Max Supply (even further), to ensure that emissions support not just the upload of data, but the permanent storage of it, and that confidence can be provided (via Smart Contracts) related to token health (lock ups and circulating supply), to help ensure that running a node, or holding token is something that benefits those doing so.

In terms of next steps, and David specifically, it will come as a surprise to no one that knows him, that he is ready to start building on the network he imagined so long ago. And while like ‘Labs’, or indeed any other group deciding they would like to build on the network, he can approach doing so in anyway he likes, his motivation, like mine, like many of yours, is to help the network grow and to ensure all those who have cared, supported and are still invested in its success and longevity, benefit from the same.

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First of all, first!

Thank you, Bux, for going into detail and leave no room for doubt or confusion. I love what you guys have been doing so far and this is one of the few projects where I never really have to question the integrity. Keep on going :rocket:

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How do I invest in autonomi labs I want to be a part of David’s craziness? :joy: obviously a joke I know David wants his freedom and looking forward to seeing that freedom in action. Good luck with your next step @dirvine well deserved :clap:t2:

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haha - the great news is if you’re holding network token, by association and use, you have exposure to all the things that David (and any others) decide to build - the more their applications/users utilise the network, the greater the demand they generate, the more the network (and one would be might assume its token holders) benefit.

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Thanks @Bux ! I think we appreciate the added clarity!

What goes ‘here’ above? :grinning:

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oh, that is just my poor grammar - there was an email sent out to shareholders, so I was advocating they referred to that, for details, I wasn’t intending on linking anything - it’s like a puzzle working with me :smile:

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I think this is the first time Shareholders will have been told there is a “lock up period”.

When will you decide when Shareholders can sell the tokens and are we talking years before we can do this?

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ha! ok, np!

QQ, was the investor update posted to the Bnk To The Future investor section?I just logged in and I see there has been activity on the forum and I need to prove my ID to see more details. I will do that, assuming it will unlock the useful info? :sweat_smile:

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They had it, so I would presume (hope) so, please do let me know if it’s not the case and it’s not there, as we can get @AJ_MS on the case and fill a few gaps for you! (I’ve been told that we’re not meant to talk to Bnk to the Future investors directly as MaidSafe - as you’re not technically ‘ours’, but if no one is communicating with you then we do need to work out how to bridge the divide!)

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Thanks, @Bux !

I think I just need to prove my ID first with them. I’ll let you know if that leads to a dead end. I did try to do it a few months back, but their website defeated me! :sweat_smile:

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Interesting … do I say surprise :flushed: (I will go back and look at my shareholder letter as now you have me wondering), but to answer your question …

The release mechanism is constant over a number of months post launch, so that you can hold (or indeed) sell over an extended period - this is there to look after your (and other shareholder) interests, as it gives the token time to circulate and for demand of the same to increase. More on the specifics re: circulating supply and emissions will be detailed in the updated WP, I suspect some will be pleased with letting the token ‘age’ a little.

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Thanks for this update @bux. Answers a couple of my concerns regarding token value going forward. Those of us who have had diamond hands all these years sitting on a pile of tokens don’t want to see that value drop like a rock at launch when crypto-noobs (not meaning to be offensive, just keeping it real) come into the fray with a huge number of newly minted tokens handed to them. A lockup period alleviates this concern greatly.

Hoping to hear of more partnerships and any future apps going forward - we need those to build demand. I will drop a little cookie that I am working on a project that will utilize the network myself. Hope to release info on that in a few months.

Cheers to all :beers:

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Haha - I wouldn’t say no to 1 cent for a couple of days :face_with_monocle:

… Finally I do earn some money… Back in the days I was a broke student…

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To be clear, if things haven’t changed, it’s only shareholders who will have vesting, and eMAID / MAID holders & beta participants who earned tokens will have them immediately available to use as they want.

Happy to be corrected if wrong, or if this has changed… though all will be clear in the new paper, which I eagerly await :slight_smile:

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Thanks @Bux,

do you already know if the MaidSafeCoin Loan Scheme will be handled at the TGE? Last time you mentioned that it is likely the case but you need to clarify internally.

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It will be, by the Foundation :heartpulse:

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If, in the case of holders of regular shares and tokens (Maid-Emaid), the steps to follow seem clear:
Could you specify more clearly what the steps will be for those who hold shares through BTTF?
What happens if, as is currently the case, BTTF creates obstacles to accessing these shares?

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One more question. Have you discussed the issue of the tens of millions of MAID illegally held by the exchanges. I hope their addresses will be excluded from the TGE

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  • Bittrex - closed, how much MAID remained there? over 2 million at the moment
  • Coinspot - delist MAID, how much MAID remained there? Unknown
  • MasterXchange - closed, how much MAID remained there? Unknown
  • Cryptopia - hacked, how much MAID was stolen there? Unknown
  • Bitker - stole MAID from the MaidSafe company, how much? around 250 000 MAID
  • Poloniex - delist MAID, how much MAID remained there? Over 9 000 000 MAID!
  • Chainrift - closed, how much MAID remained there? Unknown
  • Open Ledger DEX - (exit scam), how much MAID remained there? 551 035 MAID
  • Altilly - exit scam, how much MAID was stolen there? Unknown

Check out the Dev Forum

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What’s the reason to do so. Seems to me that is terrible public relations.

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This one went through the courts in NZ and holders were compensated for lost assets when it closed. So the MAID will have either been returned or sold off to compensate account holders. This one really isn’t included in the list of “stolen” MAID

From memory Poloniex gave notice and there is no way to know how many of those MAID held by them was from all the MAID fees paid when withdrawing MAID over the years.

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