Re:Akon wants to run a Senegal city on cryptocurrency
by bassdropvroom on Saturday April 10, 2021 @05:31PM
(#26765312)
Definitely sounds sketchy, though it still sounds more legitimate than MobileCoin. At the very least Akoin has a timeline of when all the coins will be released, something MobileCoin has so far refused to give.
Re:Akon wants to run a Senegal city on cryptocurrency
by tim333 on Sunday April 11, 2021 @03:51AM
(#26768388)
At least with MobileCoin you kinda know what you are getting - it's to let you send anonymous payments over Signal, funds raised go to Signal and or it's founders - if you don't like that don't use it. This sounds more like a con where they appear to be charitable but the money all disappears somehow.
Re:Akon wants to run a Senegal city on cryptocurrency
by tim333 on Sunday April 11, 2021 @03:46AM
(#26768360)
Gosh, they are actually trading https://coinmarketcap.com/currencies/kucoin-token/
Trading volume $55k Fully Diluted Market Cap $162bn
And have a pilot use going shown here https://youtu.be/sxBw2SQ5dCE?t=13
In the white paper they allocate 15% of coin supply to team and advisors so I guess that's a theoretical $24bn worth of tokens for their trouble, not that they could sell many at those trading volumes.
I agree it sounds pretty sketch.
Re:Akon wants to run a Senegal city on cryptocurrency
by karlerss on Saturday April 10, 2021 @06:49PM
(#26765985)
"Driving adoption amongst merchants/vendors" sounds like creating a self sustaining economy.
Re:Akon wants to run a Senegal city on cryptocurrency
by brutal_chaos_ on Saturday April 10, 2021 @07:55PM
(#26766431)
> This sounds sketchy as hell.
Especially coming after https://www.youtube.com/watch?v=D9g2szHsoz0 IMHO.
>Akoin has chosen to only issue 10% of tokens in this public sale. To accomplish this, the remaining token supply will be used to drive adoption amongst merchants/vendors and to bring value to the platform. The total supply of Akoin will be released over the course of 4 years, with 39.41% released after 12 months, 70.12% released after 24 months, 87.25% after 36 months, and 100% at 48 months. This is subject to change with Escrow tokens being placed back into Escrow if they are not needed in the month they are released.Each token allocation is subject to vesting and lock-up periods except for Public Sale tokens which are available immediately.
This sounds sketchy as hell.