XDN DigitalNote CO Round 2
By in
Okay, after waiting for more than a week to hear something from the DigitalNote core developers, they finally showed up with a few updates.
First of all, XDN DigitalNote CO Round 2 just started today, which is selling at 700 per xdn (0.7 BTC per lot). With only 9 lots being sold last week, XDN community members, particularly whose funds are locked up in the ICCO wallet, are not happy with that. That being said, in order to have a successful ICCO, XDN needs to sell at least 500 lots per day at the beginning of the campaign, but since it is far from that, there are still 12,511 lots to sell at 0.7 BTC and 0.8 BTC next week, which is the final week for the ICCO campaign. So that is concerning all members of XDN community as it does not sound realistic to sell at least 893 lots per day. Therefore, there are ongoing discussions to sort this out.
Second, XDN de
velopers are considering two options at the moment hoping to increase sales. One option, however, is to create more selling points such Changelly, and DigitalNote official website in order to make it easier for investors to get their XDN lots instead of having them exclusively on HitBTC. The second option is to create more promotional channels to create awareness of the campaign. However, we believe that it is too late for the second option and probably for the first one as well if there are no investors lined up to buy from the ICCO.
And third, there have been arguments regarding the voting claiming that it was greedy to ask to start the campaign at 600, with a 100 being added up each week, XDN ICCO is going to sell at 800 per xdn next week in the final round of the CO. However, we believe that the price is not the major issue as the value proposition is missing. Hence, it does not matter if the ICCO price started at 200 or 800 since the sale is not backed up with value offerings that motivate buyers to invest.
馃挴% agreed
I also generally agree, except about the voting. I think that the voting really changed the outcome of the ICCO and that mainly n00b traders voted for a high price without understanding what it meant for the project (very unfortunate, we should have kept the price at 300 IMO). Never the less, the ICCO structure was a little odd from the get go (I didn’t participate, too much risk IMO). At the time people asked “why would I pay 300 sat if its only 90 sat right now?” and the price promptly rose to 300 sat. That made sense to me. Another one of those “artificial” pricing structures was too much though, and was way too greedy. The value proposition of the coin is decided by the market, and that current market is XDN/BTC. I agree that the value proposition is missing from the ICCO though.
I 100% disagree with everything in the article. There is simply no reason for anyone to buy the ICCO blocks at 600+ Sato’s when the exhchanges can supply millions of XDN at 200 Sato’s or less.
The only option is to vote to extend the ICCO and to keep developing!! It is a big advantage to have a huge block available to the right group outside of normal market channels.
Thanks for your inputs. Not sure what exactly you disagree with, but since there is no value proposition backing up xdn whether on the exchange or on CO, there shouldn’t be interests to buy the currency. Despite the price is 600 or 200, neither will sell.
I think the privacy, the messaging, and the development since the intro in 2014 are all value statements compared to the rest of the crypto universe. Other coins share some of these things but overall I find xdn to be a good opportunity.
Espresso, why do you say there is no value proposition with XDN? It is trading in high volumes around 190. Clearly the buyers think there is a value proposition.
So perhaps you could tell us what the value proposition is? We can then update the article accordingly.
I think he means the value proposition for purchasing the CO lots, not the value proposition for the coin itself.
https://xdnfinance.com/soft#roadmap
If these things happen as planned it should make XDN more useful and thus more valuable.
Thanks for sharing the link. Apparently we all agree on the fact that selling on CO is not supported by a value proposition since the currency is way cheaper on the exchange. It is unlikely that the market will sell everything and then buyers will have to buy at 700 and above from CO.
XDN is taking the pressure day by day because of that. And we should expect the currency to dip further.
Creo que el fracaso es inevitable de la ico ya que es imposible pedir un valor arriba de lo que cuesta la moneda principal es decir si la ico esta en 600 mejor compr贸 el doble en xdn que al final tendr谩 el valor de 600 al t茅rmino de la ico 贸sea que xdn debi贸 estar arriba de la ico para ser atractiva as铆 es como le funcion贸 a eth y recaud贸 lo suficiente para el proyecto el desinter茅s esta muy marcado en hitbtc teniendo un alza al inicio favorable a la iconos y ahora 18 de junio la gr谩fica va a la baja hasta estar en 30 satoshis como m铆nimo pues as铆 es menos atractiva la propuesta