My messages are lagging behind, and the CTO told me that there are currently 530+ edge nodes.
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I’ve recently published my EMC Due Diligence, and feel as though it is relevant to this topic, so I am sharing it here.
I appreciate how helpful the EMC Foundation, specifically @alxgoh & @ninadou , have been throughout this process.
I am looking forward to watching your protocol & team grow!
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How much for 51% of the tokens? Asking for a friend
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Roughly 87 Million US Dollars.
Surely you can make that work!
First, we want to thank @Accumulating for the thorough and professional due diligence report. It shows a strong sense of responsibility towards the ICP community and the EMC project.
Secondly, we appreciate the efforts and ongoing communication from @Accumulating.icp , @Icdev2dev and @icarus . EMC team is eager and open to share EMC’s technology, business model, tokenology, and global market expansion with ICP community. We have also received valuable feedback and suggestions.
Lastly, EMC will continuously improve the GPU computing power network and develop EMC Hub (a marketplace for computing power and AI models). Base on EMC Hub, we will organize AI+Web3 hackathons to bring massive users into the IC community and Web3 through AI applications.
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The EMC team has updated the tokenology based on the mechanism of SNS and the feedback collected from the community. Please refer to Distrubution and Voting of Tokens - WhitePaper of EMC for more information.
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The " Proposal to create an SNS-DAO for EMC" is live. Proposal: 123794 - ICP Dashboard
52%: Reserved for Ecosystem Rewards, under control of the EMC DAO
10%: To be distributed by the NNS run decentralization sale which includes the Community Fund
6%: To be reserved for subsequent decentralized sale, exclude Community Fund
15%: Allocated to the EMC Developer Team
2%: Allocated to the advisors, early supporters of EMC and Airdrops
15%: Reserved for the EMC Foundation
Seems to me like the EMC foundation + EMC Developer Team have full control of the DAO and in essence all the money in the Treasury (Ecosystem Rewards). Am I wrong? Why not make it so that the community is the one in control of the DAO?
This is wrong, you did not.
Please find below the unanswered concerns of the community
In a nutshell, did pre-investor got scammed ?
So yeah, basically SNS investor can get a ratio 3 times better than pre-sale investors.
And we are supposed to trust them that afterwards they will give an unknown amount of token during the exchange DIP20 → ICP standards.
Of course the leader want to decide that after the SNS as if the decision will be his anymore.
Do you trust people handling early investor like this ? If you invest in it you might be handled the same way.
hey @dominicwilliams is this how SNS DAO works ?
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And if not ? lol Extortion 101 is a great way to win some votes.
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Pre-sale investor will have 10% more for the risk of never getting their token after the SNS with trust-me bro security.
Besides its just about locked ICP reward.
So why exactly did people invest in the pre-sale ?
Hi could you share your SNS config and tokenomics spreadsheet? I did not see one.
Also your github is empty for a project that is requesting millions from the community. What exactly is being decentralized as part of your SNS launch?
I rejected this proposal for the following reasons:
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I did not see a clear identification of a market or customer
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The Github repository was empty
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It was unclear to me who the team was.
I feel that this SNS proposal should not pass until:
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a preliminary business plan has been submitted
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We see the code
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The team is made public
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I will add that what EMC claims to be building is incredibly complex. For this proposal to pass the community should demand ample evidence that they are able to deliver.
The notion of collaborating with an open-source community to construct a peer-to-peer computing infrastructure is unrealistic and as such is a red flag.
There are too many buzzwords in the proposal to take this project seriously.
EMC may be a legitimate project - effective communication is difficult and a second attempt may improve on the shortcomings of this proposal. I’m not saying EMC is a scam. However, no intelligent investor would back the proposal as presented.
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- Github
EMC has canisters with POC, dashboard, EMC Hub etc. There’re 9 repositories in GitHub.
EMCProtocol-dev · GitHub
Official Website: https://edgematrix.pro/
Dashboard (Node providers): https://dashboard.edgematrix.pro/
EMC Hub (decentralized AI model marketplace): Internet Computer Loading
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This is very cool
- Module : emcNode.mo
- Copyright : 2021 EMC Team
- License : Apache 2.0 with LLVM Exception
- Maintainer : EMC Team dev@emc.app
- Stability : Experimental
This right here is the best code from the repo. Voted YES.
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