How to Fund Your #Growth-Proposal For Steemit Using Bitshares
As I wrote in the past, I am very bullish about the future of bitshares. The tech is strong, adoption and liquidity is increasing everyday (see below) and it empowers people to do things they simply cannot do on other platforms. (Gotta love those BitUSD Smartcoins)
Now, before getting into the details, here are some charts to contemplate about what's going on in the DEX of bitshares.
Filled Orders
Daily Transfer
Account Creation
How to Fund Your #Growth-Proposal by Using Bitshares
Would it be @zappl proposal for a micro-blogging twitter like platform or @steepshot, developpers need funds in order to bootstrap their business.
We can see community wide support for those project yet, they can still fail to acquire the funds necessary to build their app.
This is where bitshares comes in.
In bitshares, it is fairly easy to make your own coin (User Issues Asset). Simply go into "Account" and then allow "Advanced Options" and visit the "Issued Asset" tab. Once there, go to Create Asset and set it up the way you want.
You can expect to pay around 3000BTS for ZAPPL UIA for example.
How to bring value to the shareholders
Raising $30,000 would be very easy using this method. Now...how do you reward your shareholders to hold on to your tokens?
A possible option is to can give "special rights" or bonuses in your app for those who own a certain amount of coins. But you can also have a buyback mechanism every month with a % of the profits your app generated to reduce the supply of your token...and therefore increase their value.
What is a 'Buyback' ?
A buyback, also known as a repurchase, is the purchase by a company of its outstanding shares that reduces the number of its shares on the open market. Companies buy back shares for a number of reasons, such as to increase the value of shares still available by reducing the supply of them or eliminate any threats by shareholders who may be looking for a controlling stake.
Read more: Buyback http://www.investopedia.com/terms/b/buyback.asp#ixzz4gbgF6Moi
Conclusion
This is a very cursive overview of what can be done in order to raise funds for your #growth-projects using bitshares. I like this method because people have a stake in your success, be your advocates and also keep the devs accountable.
Steem on Steemian!
We did it @cryptotopus we took your suggestion to heart.
https://steemit.com/zappl/@zappl/zappl-bitshares-crowd-sale
Will be investing in you guys!
Great idea to use bitshares for #growth-projects as that is part of my idea with my bitshares UIA wich is growing into more and more every day.
Would be happy to help people with their ideas as I have helped a few start such ideas of their own.
I would like to create a UIA to grow Solar coach but I do not have a collateral. Can you create a UIA without backing it up with something ?
Yes. Maybe a UIA can be backed more by an idea than collateral. As long as the token has some sort of value and use. You are free to reach out to me to discuss as many others have.
Great, what all knid of projects can use this prospects?
This is fascinating... I honestly had not looked into bitshares, or knew that they had options for UIA's. For design-build projects... like Steem Park... Do you think that this strategy might apply? (Steem Park link here)
All for one and one for all!
What a powerful platform Bitshares offers us all. I still look forward to the day people will come to the realization of what it is... Thanks a bunch for sharing the how-to create the most ultimate fundraiser ever. ;) Congratulations to Zappl too for following your thoughts on it. Namaste :)
The blockchain has enabled so many useful technologies! I think shareholders will like this with a percentage of profits to buyback shares to increase the value. The possibilities are endless!
Bitcoin and Etherum are top 2 crypto currencys and there here to stay, my opinion.
@cryptoctopus Thanks for this. I'm reading this over. I always see BitShares everywhere.
what is your project?
I have to many :P
But, the main one I'm helping with is Zappl. I believe you are aware of it :P
@cryptoctopus can I email you ? Got some questions about BitShares. Thanks!
Find me on steemit.chat
Just ping'd you! thanks.
@: Untitled - 31
I've been wondering lately about how UIAs could be used to fund expansion of my small business in Japan. The thing is, my business isn't an app but an English conversation school. Is it possible to fund an offline business with UIAs? The buyback feature seems like it could be a way, but how do you assure shareholders that you will actually buy back shares? And if the company isn't profitable enough to do a buyback, how do you prove it if it's offline profit from cash or bank transfers?
great info, i love when BTS and STEEM are close together ;)