Can MaidSafe raise funds by making a proposal to THE DAO?

That idea is discussed on the community forum here. Can it happen?

No way.

By now the project has lost credibility and that is reflecting in the recent price trend of MAID.

Why would anyone put money in a DAO version of MAID?

MaidSafe is unlikely to integrate Safecoin in their software this year and there is no other revenue they can count on.

If they manage to ever complete their product, how can they charge for it?

Although they seem to think they can change the IPO promises as they please (see the recent sale of incorrectly issued MAID), the formula is known: they are entitled to a small fraction of newly generated Safecoin.

If this path to revenue was realistic it would make sense to buy MAID and wait, but we already know there aren’t many takers.

The overhead associated with getting involved with THE DAO can only serve to assist with taking their pump-and-dump to the next level as clearly indicated in that post above:

Publicity, Publicity, Publicity. LISK taking a free ride on ether by rebranding a project (Crypti) with a market cap less than $500k and boost it to over $30m in less than two months.

But let’s see how the DAO thing is supposed to work:

Here is how the proposal to the DAO works:

  1. Maidsafe Foundation loans 10-20m maidsafe coins to Maidsafe Dev team (company)

  2. Maidsafe team to sell ie 5m or 10m maisafe coins to the DAO at a preset price, DAO will pay in ether.

  3. Funds raised will be utilized to develop safenetwork.

  4. THE DAO will make a return from owning maidsafe coin, which is expected to appreciate 5-10x over the next year after alpha launch.

  5. Maidsafe team to repay the Maidsafe Foundation the borrowed maidsafe coins, and those coins(overproduced) are to be burned after repayment.

In my opinion the MaidSafe Foundation is not allowed to circulate those MAID coins in the first place.

And as I already pointed out above THE DAO could make a return on buying MAID now, without any of the crazy and potentially illegal moves contained in this plan.

Another point that may not be obvious (Step 2) is that THE DAO wouldn’t sell MAID, so those who believe THE DAO idea has any merit can buy MAID now and sell later. Any rational investor would prefer to buy legally and organizationally unencumbered MAID on the open market than by way of THE DAO.


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