Laying Foundations: SEED gets Private Funding.

LeoFinance
1 month ago
2 Min Read
491 Words

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I have been working behind the scenes to get a workaround to a couple of problems that we currently have and today I'm happy to announce that I have a 'preliminary' solution to a big one.

Since the beginning many of you asked:

'What happens with SEED if you die?'

And that's a very valid concern to discard SEED as an investment. I completely understand it.

The solution is pretty easy but with a few tricky things to deal with: Getting more people on board. But 'more people' isn't enough. Any project needs committed people.

This brings us to today's announcement.

I'm glad to say that I formalized a deal with a Private Investor with whom I have had a good business relationship lately and he agreed to invest in SEED as he somewhat found the concept very attractive (our performance from the last weeks help, though).

Looking at the current price of SEED (around 1,67$ );

I agreed to concede roughly 11,5% of the SEED supply with a 10% discount (1,5$ SEED); which accounts for 11.500 SEED in exchange for 17.400 dollars.

This, of course, with conditions:

  • This SEED (11,5K) have been minted from the remaining 25K unissued and will be stored in my personal account ( @empoderat ) as he doesn't want to deal with keys in a daily basis (set&forget mentality).

This means all those SEED (or a vast majority) will be treated as a 'founder share' and won't be seeing the light of the day anytime soon. My commitment with SEED is for years, and so it is with my beloved Private Investor.

  • This person will play a crucial role in the unfortunate event that something happens to me (death, coma, disability, etc.), We're already working on a detailed plan to action, and more details will be unveiled once we polish the details.

The main idea is:

Something happens with empo -->
investor notices -->
Gets access to posting key and proceeds to notify all SEED holders within an official post from my account with the following steps -->
a few calls happen in the background and a few 'core' holders meet (all doxxed between them) -->
All funds are returned to holders at a 'fair' rate and they get 2,5-5% of the @seed-treasury fund as compensation/incentive.

On a Side note:

It has taken some time since I agreed to a deal like this one and I'm pretty satisfied with it.

However, it's not the only one. I'm in close contact with at least 2 potential more investors but I'm very reluctant to give away SEED for pennies. Our unissued supply (currently 13,5K SEED) it's an indirect asset which we should use intelligently.

I'll keep you updated. Soon weekly report.

100% of blogging rewards paid to @seed-treasury.
Remember you can follow the portfolio in real-time here:

https://cointracking.info/portfolio/seedtreasury

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