Xanato Xan Kaso
Stalker
- Joined
- Oct 3, 2017
- Posts
- 1,635
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- Florida
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- The Frozen Flame
- Avatar Name
- Xanato Xan Kaso
Grinding TWEN tokens hoping to get enough for an item before they are all gone? Or just tired of selling them to traders/ubers and watching them reap all the profits? Well here is a chance for us casual or mid-level players to band together and level the playing field, and you know we are on the right track the more the ubers say this is a bad idea!
How it works.
Players trade me their TWEN Tokens and it is inputted on a google spreadsheet that investors with 1000 or more tokens can see. As a player acquires more tokens and trades them to me I continue to tally them up.
There are two options, you make a long-term investment to pull TWEN items for renting out, or a short term investment where I just pull an item once I have a buyer and sell it.
If you chose a long-term investment once I have enough tokens for the desired item I pull it the item is now owned by all long-term token investors according to the % of their tokens to total tokens in the long-term fund. Then the process repeats. Players invest more tokens I pull another item it gets added to the list of TWEN items owned by the fund for rentals. Rinse and repeat.
If you pick a short-term investment I will put the items up for sale and once completed the ped from the sales will be split according to players % of ownership using the FIFO(First In First Out) as the method of tracking. If get more tokens than needed to pull the item for sale, the remainder will start the next item's queue.
I will have full discretion on which items to pull and how much they sell for, but I will consult with knowledgeable investors and other players to do my best for the benefit of all who have entrusted their tokens to me. I have the option to receive a commission equal to no more than 5% of total sale value of all items, but no less than 2% managing the short-term TWEN fund.
Once invested, tokens are NOT refundable. If you are depositing them into this endeavor there is no changing your mind, as I can not be about to pull an item and someone decides they want to sell their handful of tokens and then I am unable to purchase said item. IF I end up not using the tokens because we were unable to gather enough, all tokens will then be refunded.
I am not liable for any change in TWEN token value between the time of deposit and the time an item is pulled or sold. I may develop a buyout option for players to sell their token shares to each other.
I would like this to be a fund that owns the items pulled, that way in the future if MindArk releases corporations and our own share systems similar to EVE online as mentioned in the UE5 updates I can convert shares on the google sheets right into the actual game system, but that is only a hope down the road for now. So I am giving players the option for quick sales or long-term investment.
I will flesh out this concept as I get more feedback from players, but I wanted to start it up because there is a race going on, and we have a chance of winning if we work together. Yes you can sell your tokens for a few ped to the traders, but that is only a small part of what the tokens real value is. This gives you an opportunity to get paid that full value.
Before I collected my first token I sent in a support case asking whether I would get locked for running a TWEN token fund due to what happened to StevieB.(I have consent to use his name mods) Mindark gave me their approval and green light to run the fund. Here is a copy/paste of their response in it's entirety.
Please keep responses on topic. CONSTRUCTIVE criticism is appreciated, trolling/flaming is not.
I look forward to hearing your thoughts and ideas and working together for a common goal.
How it works.
Players trade me their TWEN Tokens and it is inputted on a google spreadsheet that investors with 1000 or more tokens can see. As a player acquires more tokens and trades them to me I continue to tally them up.
There are two options, you make a long-term investment to pull TWEN items for renting out, or a short term investment where I just pull an item once I have a buyer and sell it.
If you chose a long-term investment once I have enough tokens for the desired item I pull it the item is now owned by all long-term token investors according to the % of their tokens to total tokens in the long-term fund. Then the process repeats. Players invest more tokens I pull another item it gets added to the list of TWEN items owned by the fund for rentals. Rinse and repeat.
If you pick a short-term investment I will put the items up for sale and once completed the ped from the sales will be split according to players % of ownership using the FIFO(First In First Out) as the method of tracking. If get more tokens than needed to pull the item for sale, the remainder will start the next item's queue.
I will have full discretion on which items to pull and how much they sell for, but I will consult with knowledgeable investors and other players to do my best for the benefit of all who have entrusted their tokens to me. I have the option to receive a commission equal to no more than 5% of total sale value of all items, but no less than 2% managing the short-term TWEN fund.
Once invested, tokens are NOT refundable. If you are depositing them into this endeavor there is no changing your mind, as I can not be about to pull an item and someone decides they want to sell their handful of tokens and then I am unable to purchase said item. IF I end up not using the tokens because we were unable to gather enough, all tokens will then be refunded.
I am not liable for any change in TWEN token value between the time of deposit and the time an item is pulled or sold. I may develop a buyout option for players to sell their token shares to each other.
I would like this to be a fund that owns the items pulled, that way in the future if MindArk releases corporations and our own share systems similar to EVE online as mentioned in the UE5 updates I can convert shares on the google sheets right into the actual game system, but that is only a hope down the road for now. So I am giving players the option for quick sales or long-term investment.
I will flesh out this concept as I get more feedback from players, but I wanted to start it up because there is a race going on, and we have a chance of winning if we work together. Yes you can sell your tokens for a few ped to the traders, but that is only a small part of what the tokens real value is. This gives you an opportunity to get paid that full value.
Before I collected my first token I sent in a support case asking whether I would get locked for running a TWEN token fund due to what happened to StevieB.(I have consent to use his name mods) Mindark gave me their approval and green light to run the fund. Here is a copy/paste of their response in it's entirety.
Please note, while I do have their consent to run the fund, they do not support it. Meaning it is still based on trust and players invest at their own risk. I do however do my best to minimize as much risk as possible.Hi Xan,
Thank you for your support case.
As you've stated it currently, just having a share like other funds that exists is not a problem, however it is not something we support just like lending and as such can encounter the same kinds of issues both for you and other involved parties.
However most of it depends on your reputation and is as such possible.
As for locks, as you know it is our way to take action and as such it will not be communicated to you beforehand, however just like in other situations it will most likely quickly resolved and you will be unlocked but that is something we must warn you off.
Take care and best of luck.
Kind regards,
Entropia Universe Support
Please keep responses on topic. CONSTRUCTIVE criticism is appreciated, trolling/flaming is not.
I look forward to hearing your thoughts and ideas and working together for a common goal.
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