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ATTN - All SPI token holders - Putting together a privately funded SPI buyback.

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JK
@jk6276
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I have seen from a couple of SPI holders an interest in selling their tokens using the 95% buyback offer. At the present time, Spinvest is powering down STEEM with the goal of acquiring as much off-chain investments as possible. Having to dedicate much of this power-down to buybacks will reduce the opportunities in this area significantly.

So,

I am looking at putting together a private alternative to the official 95% buyback.

How would it work?

  • People interested in buying more SPI tokens with their STEEM power-downs contact me privately via discord. jk6276#1893
  • Agreements between buyers are put in place and our STEEM is pooled in one account.
  • Buy orders are placed on Steem-Engine at 95% of the current official SPI valuation.
  • Anyone wishing to sell out of SPI will be able to sell into this bid - first come first served.
  • Price would be adjusted whenever @spinvest updates its "true-value" of SPI tokens (as a minimum weekly, more frequently if possible).
  • Once a week, SPI acquired will be distributed proportionally amongst participants.
  • Each week, buyers would be free to join if they wish, or otherwise.
  • Expected duration 13 weeks maybe less if there isn't many sellers.
  • All transactions in this arrangement would be conducted in STEEM/STEEMP.
  • This is not a trustless proposal - you would be entrusting your STEEM to me for this, anyone uncomfortable with that should not participate.

Why?

  • I personally want to put all my liquid STEEM into more SPI tokens.
  • Running this privately would free up @silverstackeruk from organising buyback requests so he can concentrate on other things for @spinvest.
  • Those wishing to sell out of SPI will have a straightforward way to do so.
  • Those wanting more SPI can use STEEM power-downs to buy at a small discount.
Most Importantly
  • @spinvest will be able to use its STEEM to buy off-chain investments rather than buying back SPI tokens with it.

I would like to invite the Spinvest community to provide feedback, express interest either as a buyer, or seller and any concerns or comments on this proposal.

If you wish to sell your SPI tokens, please bear with me. I am trying to put this plan together so you can exit your holding for a fair price, but it will take a bit to get the ball rolling.

Please Note:

This is a private proposal I am looking to run completely separate from my role in SPI via @spinvest-leo. This is definitely not an official SPI proposal in any way. None of this is financial advice.

Let me know what you think...

JK.