DeepMint is a project that aims not only to solve a global problem, but to turn that problem into an unlimited commodity (details will not be released until a working MVP is fully tested). I’ll quickly speak to other project particulars that I’m working on, without giving details on the project itself. Our small team is still in the beginning stages.
A lot of the crypto world is fundraising the exact wrong way, and many investors are being taken for fools in the process. I don’t think that’s fair at all, in fact, in many respects it’s much worse than traditional finance, because of regulatory uncertainty, and just plain lack of it. Since 2014, crypto projects simply ask for a bucket of money from anonymous users, with nothing but promises of grandeur and rug-pulls waiting on the other side.
Handing your money over to internet people on nothing but trust, a $5 whitepaper, and a cloned HTML template, is not a revolution. It’s gambling, and I’d like to try to improve this aspect of decentralized funding. This is why the majority of crypto projects sell into the ground within days, weeks, or months of token releases. That’s if they’re lucky. Everyone tries to get rich quick, most everyone sells, and the project dies a quick or prolonged death. It’s the world’s worst casino.
Off the top of my head, I would like to approach fund-raising with much more caution, and less blind trust needed from the investor side of things. Rather than a one-time raise, coin release, sell-off, fail timeline, I’d like to offer much smaller monthly token issuance based on market-driven dynamics that discourage flash sell-offs, and incentivize demand. I would also allow token holders to refund at any time with a small 5% withholding mechanism. Crypto has largely become a predatory industry, luring individuals with dreams of massive wealth, only to crush their hopes with a horrible structure for fundraising. This space must change.
Enough lecturing for now, this was supposed to be just a first small post. I’m very excited about the future.
