Dash Escrow Managed Operations: DEMO Incubator Inc.

Jan 16, 2018
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DASH Escrow Managed Operations: DEMO
DEMO Incubator Inc.
Founder: Scott Farnsworth / @DashRacer of Dash AeroSports

Mission:


  1. To provide structure and protection within the Dash Treasury system. Unknown and known contractors held to deliverables and legal payment structures. Through Dash Escrow Managed Operations, or DEMO, failure to complete or obtain objectives, milestones, deliverables, etc. will ensure Dash treasury funds remain within the Dash treasury system.
  2. Provide further decentralized funding options working with Dash Core and Greencandle escrow options.
  3. Provide legal structure pertaining to business development sourced from Dash AeroSports events.
  4. Provide legal structure through DEMO to identify, engage, develop and maintain relationships with organizations which have demonstrated to be of benefit to the Dash ecosystem.
  5. Provide value to the Dash network.

Overview:

This is an announcement of Dash Escrow Managed Operations - DEMO Incubator Inc. now providing services to the Dash network.

DEMO also provides unknown proposal owners the opportunity to “demonstrate” their ability and trustworthiness to the MN’s


Hello,

Most of you know me by now. For those that do not, my name is Scott Farnsworth or DashRacer. I have been approached by Greencandle to establish and operate an escrow service. Greencandle and Dash AeroSports have worked on several projects together now. Jeff Smith’s (@coingun) management of our own escrowed proposal has given him a very detailed look at how we operate our team and conduct business. Needless to say, we like details, execution and operating above expectations. We also follow a very detailed and methodical approach to identifying, engaging and developing relationships within the structured business world. Greencandle and my team have a very open communication loop. Following many discussions about our efforts and structure, Jeff made the suggestion for Dash AeroSports to form an escrow in which we can provide guidance, expectations, and accountability to new proposal owners.

I was reluctant to the idea at first. For one, I have great respect for Greencandle and the service they are providing the network. I didn’t want to interfere or detract from Greencandle’s positive efforts for Dash.

Following several discussions with Greencandle, we have established a common vision of further decentralization with multiple trusted escrow options. DEMO and Greencandle have agreed to operate separately, however working together for the benefit of the Dash network. We have already begun a beneficial financial structuring “best-practices” exchange of information. We are engaged in a “pathfinder” environment of operations, Greencandle and DEMO will continue to establish a “best-practices” structure regarding contracts, legal, etc. Retaining separate Escrow services within different and separate borders (USA and Canada) has additional beneficial synergies for the Dash network.

We are thankful for Greencandle’s invite into the escrow space and understand that this role entails a responsibility to the network and expectations from our MNs.

Most know how we operate. We do not “talk” about what we are going to do… we show what we have done. Keeping with that tradition, DEMO has already formed a US corporation, consulted and retained Yale grad, 23 year financial structures adviser, retained 4 project managers, Legal, etc.

DEMO Incubator Inc. structure is outside of Dash AeroSports. My primary attention will remain on Dash AeroSports, however, I will be providing management, guidance and final approval for all aspects within DEMO.

We are ready to begin operations today.

In conclusion; it has become clear that Dash AeroSports required a separate team and legal structure to engage and develop our business contacts from a legal structure focused on a business incubator profile. With the Dash Escrow Managed Operations - DEMO we will be able to provide flow-through for both our projects as well as new proposals approaching Dash.

Best Regards,

Scott @DashRacer
 

JOL

Member
Feb 8, 2017
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Dear @DashRacer,

Who owns this company, who will be financed / caplitalised by DASH and who will live only from the tresor of Dash?
The shareholders are all MN and Dash users being a subsidiary of Dash Trust?

thank you.
 
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Jan 16, 2018
32
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Dear @DashRacer,

Who owns this company, who will be financed / caplitalised by DASH and who will live only from the tresor of Dash?
The shareholders are all MN and Dash users being a subsidiary of Dash Trust?

thank you.
DEMO Incubator Inc. is a filed corporation in the USA.

We follow established escrow procedures from the previous treasury cycles.
 

AlejandroE

Active Member
Dec 3, 2017
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Caracas, Venezuela
Hello Scott. Im doing a quick presentation about proposals this saturday and I will talk about escrow companies. I will mention DEMO. Do you have any logo that I can put on the presentation?

Great proposal!!
 

JOL

Member
Feb 8, 2017
117
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DEMO Incubator Inc. is a filed corporation in the USA.

We follow established escrow procedures from the previous treasury cycles.
I well understant, what DEMO is for, this is not the question.
who are the shareholders?
The easiest way is to send us the legal status of the company
 

akhavr

Active Member
Oct 11, 2014
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Who and how will decide on the usage of funds, that weren't delivered to (failed) projects? How this would be enforced?
 
Jan 16, 2018
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Who and how will decide on the usage of funds, that weren't delivered to (failed) projects? How this would be enforced?
Akhavr,

Sorry for the delay. We did not receive the alert of a pending message until we logged on to review another proposal.

The funding will follow the same path as GC and approach the DAO for different options which will change dynamically to meet the Networks needs. What is needed now, might not be what is needed in 8-12 months. I hope you understand what I'm trying to describe. Undelivered funds are to be injected back into the benefit of the network.
 

feedbands

Active Member
Dec 2, 2017
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Will you be offering a clear pricing structure? If so, what would that pricing structure look like?

I think we need more escrow options!
 
Jan 16, 2018
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Will you be offering a clear pricing structure? If so, what would that pricing structure look like?

I think we need more escrow options!
Our fee will be clearly stated within the proposal submission. Fees will have to be determined based on the needed infrastructure required for the specific proposal. We do not pretend to know all possible proposals that will be offered to the network.

Feedbands, our fee for the service will be very clear.
 

feedbands

Active Member
Dec 2, 2017
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Our fee will be clearly stated within the proposal submission. Fees will have to be determined based on the needed infrastructure required for the specific proposal. We do not pretend to know all possible proposals that will be offered to the network.

Feedbands, our fee for the service will be very clear.
Awesome thanks for taking this on.
 

TLC

New Member
Oct 22, 2017
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Koh Phangan (TH) / Paris (FR) / Exeter (UK)
Dash Address
XfYmMF97oj2bnng3aVgrQLK9XtpFBQLjtJ
Great that you are taking this on... it's definitely a value added for the Dash treasury/budget/proposal system.
In our opinion all proposals, certainly from new Dash community members like ourselves, should be funded through escrow services so that the Dash network is getting the best value for the budgeted funds.
At the same time, procedures and parameters need to be clear and fair so as not to unnecessarily obstruct Dash's development and detract serious investors of time and funds.

When will we hear more about the DEMO team, procedures and further proposal details?
 
Jan 16, 2018
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TLC,

We are posting our first escrow proposal now. I think this example will speak for itself. We like to set a high standard of expectations. We will post the pre-proposal and then release the contract that took a long time to draft and forced delayed submission.
 
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akhavr

Active Member
Oct 11, 2014
758
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133
Undelivered funds are to be injected back into the benefit of the network.
I don't quite get it, sorry.

There's no technical option to "inject unspent funds back". You just can burn them, redistribute back to masternodes, or propose another way to use them. What's your choice - that was my question.
 
Jan 16, 2018
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akhavr,

One example is to attach unspent funds to another proposal's "ask".

New proposal owner requires 100 dash. DEMO provides 30 Dash from unspent funds and the new proposal ask is lowered to 70 Dash.

DEMO is a store of value for the network through "injecting these unspent funds back into the proposal system.
 

feedbands

Active Member
Dec 2, 2017
309
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That is actually quite a brilliant way to conserve treasury money and add value to the ecosystem.

Will DEMO payouts be pegged to the USD at the time of payout?
 
Jan 16, 2018
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That is actually quite a brilliant way to conserve treasury money and add value to the ecosystem.

Will DEMO payouts be pegged to the USD at the time of payout?
Our current Escrow with MultiGP is Fiat pegged. For the most part, this is and should be the norm for corporate interactions.

If we are approached to escrow specifically pegged to Dash amounts we would disclose this fact. I'm not sure the reason why this request would be made, but DEMO is here to assist the proposal owner and protect the DAO's interest. In short, if the proposal owner believes it is required for their success we will not stand in their way submitting under those terms.
 

Unstoppable

Member
Jan 25, 2018
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I applaud Greencandle for encouraging you to do this. It says a lot of good things. Second, I applaud you for going with it. Third, best-practice development is fantastic. I couldn't be happier with everything I've read in this thread.

This is an extremely exciting development, and it will be getting my yes vote. An expansion of the escrow ecosystem is absolutely critical in ensuring that treasury funds actually result in real-world benefits for Dash.

The next thing I would like to see is direct competition in the Escrow space.