Dear Jerry,
Did you read our whitepaper before you agreed to represent us on an ongoing basis for 10,000 TACO?
Remember you took a couple of days to ‘check out materials’ and then said ‘yes’.
Also, remember that before you supported us, we had a meeting scheduled(that I paid hundreds of dollars for) that you completely blew me off on….not very professional.
I hope you are able to get back on track with the 12 steps. In the meantime, here are 12 BS points you tried to make in your video about TACO DAO and a quick rebuttal to each.
BS Point 1: Why wouldn’t you buy the tokens yourself?
Taco’s Response:
Here are a few reasons why you could/should participate in TACO DAO rather than buy and sell on your own:
We are a single and accessible entry point. People are busy, people are not omnipotent, maybe newcomers shouldn’t have to research the whole ecosystem on their own.
Diversified strategy. Literally getting hundreds (and then thousands) of votes and perspectives diversify the holdings in a way that would be impossible for one person to manage alone.
No buy/sell button means emotions are no longer a problem
Maybe you don’t like the core idea because it pushes people to listen to the logic of people who put their money where their mouth is rather than blindly following an influencer (all tokens are going to zero except JBBJ, right)?
Finally this is a different way for people to combine their knowledge and brain power into decision making in a trustless way that could have endless applications. Like any startup we might fail, but at least our idea is different and has the potential to both disrupt traditional investment AND bring mass adoption to ICP.
Point 2: Smells like a fund-raising mechanism for Adam because it has a lot of yes votes.
Taco’s Response:
Yes, Adam likes us because we’re an organic project. Yes, we got a lot of yes votes fast because we’ve been building for 1 and a half years. No, it is not a fund raising mechanism for Adam. Our ties with Adam do not expand beyond us giving him updates on how we’re going. Blatant mistruth.
Point 3: They’re going to swap 700 000 TACO tokens for ‘Adam’s DKP’
Taco’s Response:
The Preswap was held a year ago, indeed for DKP, because our community formed out of the ashes of SNS-1 and we wanted to give our early supporters a good opportunity. We haven’t touched this DKP and it will be part of the DAO’s starting portfolio.
Point 4: I don’t think its good to take DAO tokens out of DAO treasury. If you want to buy them buy them off the open market.
Taco’s Response:
Open Chat’s team has already expressed interest in swapping CHAT directly for TACO so you better hurry up and start convincing them not to. Let’s think through our plan vs. your plan…
Our plan is to let the CHAT team swap their native tokens and participate in an ecosystem wide rewards program (if they want to) while simultaneously diversifying their treasury.
Your plan is for them to buy TACO on the open market if they want it. Well, to do that they need ICP. To get that ICP, they will either need to deplete their ICP treasury or sell CHAT on the open market. How do you think the open market will respond to the team selling CHAT and buying TACO with the proceeds? Don’t you think the team is better off using its ICP for development and marketing?
Point 5: Insiders have significant amounts of the TACO token
Taco’s Response:
The founding team doesn’t deserve an allocation? We paid over $40,000 USD for Afat to audit in exchange for about 12% of supply. We could have used the 21 million DKP from our Presale to fund the audit but we used our own funds instead. Our team own’s a similar amount to other teams and any less would further expose us to the dreaded ‘Borovan attak’
Point 6: There is a plan to funnel money into the insiders
Taco’s Response:
Not even sure how this would happen but its pure conspiracy. The founders neurons are locked up til 2 years down the line. While maximum voting power is capped at 1 month. Quite the long-con with no ability to exit!
Point 7: When I look at all these different things and these formulas, I don’t want to invest in something that has all these different formulas…
Taco’s Response:
The decentralization sale post on the DFINITY Forums needs to cover everything. You can try reading the whitepaper for a simpler version. If you’re confused about something go ahead and ask.
You think you can do all the research that’s needed to buy tokens on your own but you want to avoid math? hmmm
Point 8: No voting rewards disincentivizes participation in voting
Taco’s Response:
You didn’t even read the paragraph below that states that later down the line we will implement a competitive rewards framework that ranks how well voters performed on their allocations votes and rewards more to the better voters. That means we will enable an audited track record for each user and reward those who succeed.
Even before we stand that competitive framework up, voters are incentivized by the fact that the tokens you vote for will get the support of the DAO and the TACO portfolio will hopefully increase in value with good selections. SNS1 had no voting rewards and when people locked their shit up there, they felt like it was joining something because they had no reason to do so other than just a desire to participate.
Point 9: If one person owns the majority of it that’s not sophisticated, that’s a fake DAO
Taco’s Response:
IF Adam was the only participant in the sale he would have a slight majority in voting power in the immediate term but no ability to access the treasury. Additionally that would mean there are no other participants to sell tokens to him so he can’t get to 67%. So in your line of thinking Adam is going to commit 100k ICP, to get a majority and decide what tokens to trust, but not enough of a majority to commit ICP to the portfolio. What’s his end game in this theory?
Point 10: I would not say that DKP is the crème of the ICP ecosystem, 9% of it
Taco’s Response:
Timing is everything. There was a time when DKP (SNS1) was the only token worth holding. That time might come again. That said, this was a preswap. It was not us valuating DKP as being worth 9% of the supply, it was us giving 9% of the supply to early supporters in exchange for DKP.
BS Point 11: Some of the tokens have already set up that they’re gonna use this as a way to cash their token out
Taco’s Response:
The projects mentioned are teams that have reached out to us that are interested in participating in Salsa Season, which you did not cover in your video at all. Salsa Season will be a rewards hub which condenses different rewards programs on ICP into one central location. Our mention of them does not mean that they’ll be included in the portfolio, but it does support it. The DAO and its voters will determine how much of each project to acquire and we are not likely to be willing exit liquidity.
BS Point 12: You are entertaining so people should take your crypto advice
Taco’s Response:
This is a general comment. You flip flop on people who pay you money. You continue to support projects with other red flags and your own baseless meme coin while spending time on takedown videos of legitimate projects like TACO DAO and SNEED. You do have a way of making people entertained. People should laugh at you, not trust you.