SEED funding round update: New minimum price is now 4$
As I shared exactly a week ago, there's an additional round for new possible buyers on SEED on the 25.
Unfortunately for some, I have to increase the minimum price from 3$ up to 4$. All the other details keep the same.
Date: 25 of November, 12:00 UTC
Amount of SEED to be minted: 3500 SEED
Minimum price: 4$ or a 33% premium on the latest 'backed value' price.
'Wow empo, such discrimination!'
Maybe some of you happy with $3.00 will see it as an act of greed.
Far from reality. I'm only applying my own rules. this is an indirect consequence of giving everyone 14 days of anticipation to prepare herself.
SEED is already working, things keep changing, presales keep flowing in, and Seed as a project is being a victim of its own success.
At time of writing:
DAO is beating the market and it's dancing around the 4,3$ mark. Our 'theoretical' backed value is 209.000$. But that's not entirely true.
Can you see the -7900$ worth of BUSD figuring as a negative balance? It's a 'loaned' amount by myself which IS ALREADY locked and loaded on presales and waiting for the new tokens to land on the open markets.
There's a high probability that these 7900$ turn into 79.000$ in paper value in less than a week (depending on listing times and all this kind of stuff outside of our control).
79K less 7,9K (to repay me) and we have 71100$ worth of 'value' coming to us.
209K + 79K = 288K
288K / 86,5K (SEED CS) = 3,32$ /SEED
So, according to my own rules, I'm accounting for the 'Backed Value' being over 3$ (or very close to it in case the tokens waiting to be released make an x5-x10 on average). Demand is exceeding supply right now.
Regarding the open market:
The bidding price is currently at 3,37$ (although on low or no volume). This is not a problem for the existing buyers, it's because literally, NO ONE wants to sell their SEED.
I'm not overall happy raising the price of SEED as this may put some buyers off, but I hope you understand that as the manager I can't just give away these tokens under his market value.
I can always lower the price later if there's no interest. But I can't take them out from rightful buyers later.
I also have to protect my own interest. Remember, that I'm the #1 holder for the token but I have not applied any commissions as a manager yet (which will be disclosed and discussed in a future post).
Paraphrasing Thorchain, which is a project I don't own but I respect a lot: ''My existing SEED holders are my 1st class citizens''.
Have a good day.
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