Go through the pros and cons of both options before
As we are growing closer to the moment we have been eagerly awaiting, that in which the platform will be online, the time has come for some tough decisions to be made. We have mentioned before that this is our shared project.
In the past, we have relied on your feedback to keep us grounded and on the right track. Now, we’re interested in when YOU think we should launch the token. Let’s hear the voice of the community!
For anyone just now joining the conversation, we have decided to let our community members vote on
WHEN TO LAUNCH THE ENF TOKEN
As we see them, the options are to launch in the early stage, when
the app will feature cards and IBANs or launch the token when we publically launch the app.
As we see them, the options are:
- Launch the token in early stage, when the app features cards and IBANs
- Time the token launch together with the public launch of the app
We’re looking forward to seeing your options and we are prepared for both outcomes.
You can join the voting process at any time and express your opinion. However, keep in mind that once you have expressed your vote, whatever your option, it is final and cannot be reversed. So, if you are at least a bit indecisive, postpone voting, and review some of the pro and con arguments presented for either option.
Each vote cast has different voting power, according to the number of tokens the voter has. For example, if you have 1000 tokens, your voting power is 1000. This way, the decision of when to launch the token is in the hands of all investors, while your ability to determine the outcome of the vote depends on your trust in the project and the number of tokens you own.
The final day of voting will be on May 10th 2023.
To make sure that things go as smoothly as possible and that you get all the support you need, we even made this tutorial, showing you how to sign up and vote. It only took our colleague Petrut a couple of minutes, and the entire journey is well documented for you to simply follow his steps.
Also, don’t worry if you don’t really grasp what either of the options implies. We have already broken each option down into pros and cons, following our own thorough analysis of each scenario. Feel free to go through this information as it is presented below, and it will appear once again on the voting platform for you to review just as you are about to cast your vote.
Publicity and better conditions for the following stages of the project: Token releases often garner a lot of attention from the crypto community and can generate buzz and publicity for the project. This is an “all-eyes-on-us” situation in which we must correctly use this type of exposure. Every newcomer is greeted with enthusiasm by the public.
Early access for investors and more significant fundraising opportunities: Investors can gain early access to the project, potentially profiting from future developments and appreciating value. Also, we can raise series A financing sooner, which means considerably more consistent funding. A launch of any type is a materialization of some of what the project promises, proof that things are moving according to plan. This makes investors more willing to come forward and put their money down—considerably larger sums of money.
Real market testing and raw feedback: Releasing a token before launching the full product allows the team to gauge interest and get feedback from the community, potentially improving the final product. Our testers are doing a great job interacting that dictates the price; therefore, the value might be lower than you expect.
Risky investment and a danger to the project’s and team’s reputation: Generally speaking, investing in a project that has only released a token and not a full product is risky, as there is no guarantee that the project will ever come to fruition or be successful. Suppose the project eventually fails to deliver a complete product despite all our better efforts. In that case, investors may lose faith in the team and be less likely to invest in their future endeavors. Although all our efforts are going into bringing this project to life, once we launch even partially, the spotlight and the pressure may affect the future outcomes of the project.
Lack of transparency could cost us some investors if they are not on board with a partial launch: Without a full product to review, investors may not have a clear understanding of the project’s goals, objectives, and risks. It may happen that some of the more prominent investors may only look at this phase of the project and fail to see it as part of the bigger picture. Lacking a vision of what is to come, they might back down, leaving us without much-needed support.
Token use case to take into account: The token use case is not at its full potential making the demand slightly lower than expected. The demand is the one
Clear use case for the token gives it a chance at doing better: With a full product in place, the use case for the token may be clearer and more well-defined, making it easier for investors to understand its potential value. Once everything we have worked for falls into place, the public and investors will see a well-rounded product, with tokens being a vital part of the created ecosystem.
Demonstrated value of the enfineo project as a whole: The vision around enfineo is of a financial management tool delivered to a market that only hands users apps for bits and pieces of their financial reality. For us to have the success we are counting on, enfineo must be seen as a whole, with all it sets out to do in its groundbreaking full shape. Launching a token after the full product has been released allows investors to see its value and assess whether it is worth investing in.
Proven track record: A full product launch demonstrates that the team can deliver on their promises, which can instill confidence in investors. Not only that, but launching such a robust financial solution that covers the needs of consumers and companies while introducing unique solutions proves that the task, although time-consuming, was also incredibly challenging.
Missed opportunities to raise some of the funds we need in different project phases: Delaying the token launch until after the full product has been released may mean the project needs to capitalize on initial momentum and interest. As you may have noticed, these tend to vary at times, making it more challenging to keep the project moving.