First of all, we want to thank you for the success of our open sale period. We raised $5.5mm in a combination of fiat, Bitcoin, Ether, and in-kind services and are now off to the races in our platform development. Our first vote was also a success, with the voting weight clearly indicating the fourth liquidity option (4 releases of 84 days each), and the result being immediately put into effect across all SWM tokens sold in the sale. The first liquidity release started on 11/6, in line with the previously communicated date for the first release.
The initial release of our tokenization platform and smart contract funding pool software comes in January, after which we will embark on a roadshow to spread news about what we are doing and begin our first board election.
There were 69 votes cast in our first election with the weight of votes toward the final option for 4 releases of 84 days each (78.5 weight). as compared to the original option of 8 releases of 42 days each (2.2 weight), or the 42 releases of 8 days each (-6 weight), or 16 release of 42 days each (-10 weight). No major issues were experienced during the voting besides one improperly-formed ballot and one zero token vote. That said, we are always trying to optimize the voting experience and hope to make the experience even more seamless in the future. The source code for the voting tool can be found on our github.
Here's a screen shot from the voting interface:
We are also pleased to announce that Swarm partner Philipp Pieper has moved into the CEO role post-sale. Swarm partner Joel Dietz is currently on the road and will be presenting at the Sharing Summit (Nov. 8th), Tokyo ICO conference (Nov. 11), and the Blockchain Expo in Santa Clara (Nov 29-30) about the future of decentralized governance and community ownership.
We are also in communication with many interested funds relating to our platform and will have some great announcements coinciding with our January platform release.
Thank you for being a part of this. We are excited for what's ahead!
-The Swarm Fund team