Loadpipe Community Town Hall 6: Tokenomics 5

The Loadpipe community conducted a town hall meeting focusing on tokenomics and fee structures. Discussions revolved around monetizing marketplaces through fees, with emphasis on vendors’ comprehension of these charges. A proposed two-tier fee system was suggested: a protocol-level fee for covering operational expenses and potential gas fees, alongside a marketplace-level transaction fee. Different fee collection methods were explored, including adjusting token supply and implementing percentage fees. Plans were made to further clarify fee structures through diagrams and comparisons with other e-commerce platforms, while considering the involvement of external parties and managing workload effectively.

(00:02) we had been having a toonomic discussion I was going through that sort of convoluted Excel chart which actually reminds me I’ll open that up I suppose maybe in a moment but yeah who like sort of outstanding convers conversation points arose one of the questions I had asked is how lo hype plans on monetizing the marketplaces which led into a further discussion around fees being collected specifically should load pipe be implementing a fee and based off of some documentation that was put in the chat which I have right here I think
(00:43) maybe that’s where we should start off so I think and I I read through this only spent maybe like 20 minutes on it but yeah the outstanding question as far as like fees being collected is the fact that for the most part vendors are actually the ones who are going to understand the fees the most potentially depending on how we design some things for example they’re going to be the ones calculating the weight of a package just like we talk about here they despite operating in the same Marketplace there might be
(01:16) different taxes for various different products so on so forth boiling it down and correct me if I’m misinterpreting this but boiling it all down maybe we should have a fee structure that we collect just for us and like specifically our costs as a protocol provider even if it’s just gas fees and then we could have a secondary Marketplace level transaction fee that’s either collected based off of a specific transaction or is collected sort of across the board with that in mind and we can look through some of this but
(01:56) trying to find it yeah right here so this is the light document that I was writing and I sort of talk about these fees something that stood out to me that Mike was was saying was that like as as a protocol he doesn’t want us charging fees if anything we’d like to have negative fees just for I mean this is again I’m not speaking on behalf of the whole project this is me as a person individual I mean I I don’t know how many others feel and it doesn’t have to be the decision just to be clear here I
(02:30) don’t if others have a opinion on that but go ahead sorry to interrupt I just want to clarify yeah so avoid Meandering because I’m going to sinkle back to what you just said but what I see that we what we can do is we can have like a protocol level feed that we collect let’s called this a non-revenue protocol feed so the goal here is not collecting a feed to make money the goal is strictly to cover expenses as operating as a protocol and then on the marketplace level they can Implement Revenue fees and so a new
(03:06) Marketplace might want to not have any fees not have any Revenue fees so that they can acquire more users alternatively a more mature Marketplace could vote for additional fees and that’s outside my perview but I kind of wanted to ask like Mike and Bo and like the others like what they think about that sort of approach oh do you have an opinion yeah I Doan I thought that that was sort of like how we like what we had decided on right that there’s like a a protocol fee and then like marketplaces can turn on their Marketplace fee as
(03:46) well on transactions and second I would say is the way that like funds are distributed a fee would go into like a dow Treasury and then a dow treasury would decide to create a work stream to support development also like all marketplaces are going to have costs right like all Market places are going to have to supportting development team in order to like continue to support their frontend so so yeah I don’t that that does sound good I feel like that’s that’s what we had already agreed on though yeah I think when not my opinion
(04:21) it could have just been a factor right whether it’s negative or positive or low it’s still a variable in the in the formula okay go here so that makes sense to me that’s kind of what this variable was here inside of the sheet and so as long as we’re okay with charging some sort of percentage fee on the protocol level in order to account for costs of the protocol then yeah I I think that makes sense because even our last call we we weren’t necessarily on the same page with this so if if we are going that
(05:01) approach right and we’re collecting this protocol level fee to cover expenses I guess revisiting that previous conversation that we’re having about how we’re making money like Bo had mentioned that we could do it from a sort of a token valuation point of view so right like load pipe as a protocol hold some amount of tokens maybe receive some tokens as we met new ones and just focus on on increasing the price and is that what we want to do like as a team yeah I mean I would make the distinction that I was talking about
(05:40) value acral and not necessarily like price acral or like price price increase right like so the the the object of the token is to create value right through its existence and then to ACR that value by some toonomic mechanism to the the I so like Mo and Martin and I were having a conversation last night sort of about this idea and like about maker is everybody here familiar with maker yep yeah yeah so like their their toonomic model which is one where like good governance means that they burn more of the token and bad governance
(06:19) theoretically results in them minting more of the token so it’s like sort of a simple Supply control and that’s that’s what I meant by value approval okay with an approach like that you could find yourself in a a scenario where bad governance is sort of prolific right and so we would just be minting more tokens in order to incentivize good governance and then rather than mining new tokens we’ just be burning tokens is that is that correct well I mean I think first we have to we need to Define like a
(06:54) mechanism right what does it mean to Mint and burn and what are the actions that mint and burn so when you’re discussing Supply there’s a lot that goes into that right so some assumptions that we can make right is the sort of marketplace reputation and understandably some work needs to be done in term in terms of like detailing the modeling and that’s something that I’m working on but assuming we have perfectly good Market places who are doing perfectly well in this model what would the the action be
(07:30) that we take as a protocol as far as either rewarding or burning I mean I’m sorry maybe maybe I don’t understand the question I think he’s saying are we creating more or are we burning like what’s the way we create value giving people emitting it or burning it right James that’s the A or B yeah do we generate value doing both yeah like if if you have an ideal because what we can do right we are collecting funds inside of this load Vault obviously some of that is locked because that’s vendor staking or
(08:07) Marketplace taking right but any additional acral that we have let’s say from yield or something we could use that to do like a buyback and burn right I mean me personally is Emit and burn I mean maybe there could be certain events that create burn but I don’t think it’s like always but that’s just my personal preference I I rather give people stuff than to take away or burn can I clarify something can I ask to clarify something sure so in taking the protocol in taking the protocol fee there’s two places where the protocol
(08:42) fee gets taken one is on the protocol itself that’s the protocols fee and the other is the marketplace’s fee is that correct and both are optional I think he’s clarifying that at the beginning of the call and and then Bel B said we had already kind of somewhat agreed that on the last call which I yeah yeah yeah just clarifying that to move on yeah the next I think we what I want to say because he was maybe I saw I gave confusion saying negative or no fee which I do somewhat think we should consider but I still feel like
(09:14) it’s a it’s still a variable in the in the in the formula yeah so we can adjust so let’s say here here was by understanding the protocol fee that’s like baked into the protocol however we extract that how the protocol extracts that is a different question but the first question is the marketplace fee marketplaces have some Freedom about how they interact with the protocol and a Marketplace if it takes its fee before it even begins interacting with the protocol and it has variety of ways that it could take its
(09:56) fee is the marketplace fee would that even be considered part of the tokenomics system or would that just be like the marketplace’s choice of how they want to do business I think it’s the lad so it’s the then I just wanted to that for that I wanted to just make sure that I was on the same page yeah so second yeah I’m also hoping I’m hoping to same yeah one caveat one caveat is it does indirectly tie into the value of the token in some way simply given determining the market Place fees would
(10:31) be a governance decision and so that’s like a a reason people would want tokens for Government Act or governance actions those would be governance decisions on the marketplace’s governance correct correct correct yeah okay yeah okay understood then we are on the same page about that next I wanted to ask about how the protocol fee so the marketplace fee that could be that could come in so many different forms I think we can’t really like talk about that in absolute terms that Fe could be taken in so many different
(11:05) ways it’s kind of like an ecosystem thing like that’s just nature like they’ll do what they want so talking about the protocol fee the next question is how the protocol fee is going to be extracted and I think that what we decided I think I think we all agreed on this last time is that it would be some combination of emitting and burning rather than yeah than like a direct taking of a percentage is that correct maybe we had reached that conclusion but that wasn’t my understanding of it maybe was just my understanding well
(11:42) no no no I I remember this this like vague conversation can you remind me what that looks like I okay me yeah yeah okay so so the question is how the protocol takes its fee if it just takes like a percentage of transactions or if it just controls the value of the token for token holders by adjusting the supply like Supply oh I I remember like it was by like yeah withh holding emissions right like it would be like it it would emit a certain amount but like the it would just calculate the marketplace fee and like
(12:24) say burn a portion of the emissions that are supposed to go to the marketplace yeah in even more general terms just by controlling the supply by adjusting the emissions rate and or in combination with the burning rate No but and and see that that is that is sort of what I mean well I mean that’s that’s not really burning like existing Supply that that’s burning like Supply or like just not issuing a percentage of Supply that would have otherwise been issued I guess yeah I guess it wouldn’t be not
(12:57) issuing I guess like burning doesn’t make sense it’s a feed like it would it would have to go into like the the Dows treasury okay but then and then I’ll just say in more general terms messing with the supply adjusting the Supply right right right instead of taking a percentage cut on every like contract or like as right so it’s true then I think that we haven’t fully decided on whether we want to do a b or some combination of A and B yeah I think that’s why James that’s why I think
(13:34) James is asking if we prefer burning versus I don’t know what are the dis what are the what would be the advantages and disadvantages of a versus B so a a being taking a percentage out of transactions and B being just adjusting the supply so at the end of the day there could theoretically be Z difference in the sense that we could mint 500 tokens and then we could burn 500 tokens and consequentially we’ve not emitted tokens we’ve not actually changed the supply in the one ter okay that said the bactive
(14:15) burning has an anti-dilution effect it increases the price of the token permanently removing circulating Supply and then alternatively if we’re emitting and we’re just emitting less we are still deluding the token Price Right simple terms when the number goes up no matter how it goes up that’s diluting and when the number goes down let’s say through burning then it’s anti-dilution yeah maybe just to simplify the question we can leave out burning for the moment and just forget about burning for for a moment and just
(14:54) say that we could extract a fee by just playing supply side economics and adjusting the supply by adjusting the emissions rate versus taking a fee of transactions like taking a percentage of transactions directly versus doing some combination of both so how can we determine what will be the advantages and disadvantages of doing it one way versus another I mean I have a thought I mean my I don’t know how to say this correctly I’m not politically correct but I feel like I I think like a higher Supply a lower token price relative to
(15:41) the supply I think we want more I guess I’ll call at least my thought is liquidity like I think of some other projects that have like maybe doesn’t really matter but I think people would rather have a higher quantity than like a lower quantity of a higher price token I’m not sure if that’s relevance you can bring up or not but I just feel like it’s probably like a higher Supply I lower token price total in valuation for I don’t know if that really is relevant or not James to think about but
(16:08) personally I feel like more comfortable with that it it is I have to find my spreadsheet mistake because I ended up changing some things but there is an impact there and I’m forgetting where beond the behavioral component so like we have behavioral toomics right the reason you might have something like a burd even if it fundamentally reaches the the same end goal is just emitting less is because of that one it’s a lever that you can pull that’s a little more intuitive for people to understand and
(16:44) two it makes people a little bit more optimistic about the price of the token yeah people like burn it’s like a marketing thing right like oh there’s less go ahead but see this is this is all talking about like the sorry the speculative and like psychological effect of the token rather than like it’s actual function right sure and you can measure the literal impact of burn as it should be repres represented in the price of the toket and it’s just a function of Supply old Supply and market cap versus new Supply and market cap and
(17:23) so it burn I don’t know if I’m understanding this right guys but whenever you charge a fee wouldn’t that be like to use the analogy between the fed and and everything would wouldn’t that be like charging rates and that makes the or or or issuing taxes and that makes the the the amount of tokens in circulation go down yeah that would be if we were charging a fee in the supply AK making them pay some form of low token which is so which is very different from just emitting less and changing the admission
(18:02) schedule so I I actually think that’s a that’s a great point is like going back to to this analogy of the FED right like part of the reason the dollar has value is because it’s the only thing you’re allowed to pay tax to them right and so and and this is true of like all state governments right like the issue of currency and it’s the only thing that you’re able to pay taxes in generally as a general rule right and and that’s what like where a lot of currency just deres it value is like you owe it back to the
(18:29) government they gave it to you and I think that this idea actually combined with like so so John combined with like a pay Master right if if we require the fee to be paid in our token and we have like a pay master that like that that has the token that converts automatically the like usdc value or the E value or whatever of the transaction to our token and like Burns it because that’s what I was about to say is like the the problem with like buy and burn is like buy and burn requires that we have some hard
(19:07) currency to swap for the token right you have to remove supply of the already existing token or or else it doesn’t matter like and so so that’s that’s like technical pattern we could we could do I think I kind of like that in the sense that we’re enforcing on a Marketplace level like essentially purchas in of her own token and burning it so the even the the purchase event is going to have a positive impact on the price of the token and then the burn will as well that’s just another way of giving Tok
(19:41) louder please sorry yes I can I I like that because as Bo mentioned we can either do this with some sort of Treasury some sort of amount and that’s less reliable alternatively we’re making people essentially indirectly purchase the token on the open market or whatever liquidity pool is out there which will have a positive impact in price and if our goal is price appreciation of the token as a monetization strategy that’s definitely one way to do it so we give the token utility the token can have utility and like we’ve
(20:21) discussed a bunch of different ways that the token could have utility having to buy things in the token or having to stake the token to do certain or something so that gives the token utility and the utility gives the token intrinsic value then by adjusting the supply we are adjusting the amount of intrinsic value per unit of the token so by deflating the supply or or increasing the supply less it benefits the holders of the existing holders of the token and by letting the value go lower the value per unit of token go lower we’re helping
(21:00) or we’re benefiting the people who have not yet bought the token but we want to I think this is just like roundabout like this is what we’re saying right this is where we’re kinding right now by our conversation what you what you want you want that sort of multi-stem circulation of the currency it it helps make it more resilient less fragile and more useful for a myriad of actors okay so I get that like so multiple ways that the token has utility and possibly multiple ways that the Tok the supply of the
(21:39) token can be adjusted but it still comes back to the question of do we want to extract protocol fee per transaction or just do it by adjusting Supply or does it not matter is one harder to do than the other one have benefits over the other is a combination I’d rather do both in the sense that introducing Supply is a mechanism for adding and then collecting a fee is a mechanism for removing essentially start to finish the the beginning and the end point of the circle so to speak okay I think we also want to stay simple I
(22:17) think Andre spoke on a previous call I do agree I mean simple simple simple is Prim more effective at least to General major levers of the system system I think people should be a to kind of verbally say it to each other in a few in a few sentences or paragraphs what like how the tokenomics system function yeah like I think people should be able to kind of give an elevator pitch in in walking and talking somebody explaining how this works rather than a huge complex system of yeah Simplicity has some benefits but
(22:52) also like James was saying having multiple like ways of pulling the levers having multiple levers I guess also has some advantages even though it makes it adds to the complexity so I guess I guess we need some balance we don’t want to get overly complex but we want to have enough complexity that the is robust maybe the way I’m thinking about is one’s kind of automated by like like ongoing formula and the other is more like a vote of the Dow like the burn or the supply is more like a a dow vote and
(23:24) the marketplace fee is more like an ongoing fee one’s more like like a less frequence kind of like thing that’s happening like to the yes yes I agree with that like I mean from from a from a seller’s perspective ideally you want to know how much you’re going to pay or how much you’re going to get paid for for each transaction that you do whether the price of the currency that you use goes up or down that is sort of a separate issue and that can be something decided by the doubt I agree with what with what you’re saying Mich
(24:00) we can may I may I yeah please may I point something out when you’re the marketplace when the marketplace does transactions and the and the the buyer puts some put something on escrow right supposedly the the marketplace in this case hamsa charges a certain percentage as a as a fee right that goes into the that goes into the marketplace when the when the transaction when the escro is settled right and that fee takes it’s in the form of usdt or some other token not not the load by token now when if you if
(24:40) you make the marketplace pay the the fee percentage and not the individual buyers and sellers then then that’s transparent to the to the sellers and buyers it’s only an issue of of of the marketplace paying a certain percentage in fees to the protocol that would make it simple and I think it would make it more effective so something I’d like to to point out if we’re simplifying this we add to this Supply as a reward for marketplaces and then like you just said when marketplaces have volume maybe we
(25:22) collect this 1% at the end of every month or every day or every week and that’s paid by the marketplace and that’s collected in not necessarily our token it could just be usdc or usdt or traditional web2 payment providers and what we can do is then spend that fee on buying back our own token on the Open Marketplace and burning it and those would be the sort of mechanisms that we have and so all we’d have to do in order to sort of change the supply versus the burn is adjust the fee that we collect and then adjust our supply ratio
(26:05) relative to the fee so if our if our supply if our reward ratio is the same amount as the fee that we collect we’re not impacting Supply we’re not making any profit but we’re also not negatively impacting the price I I like that maybe it would be a good a good practice to draw up some few different ways that this could work I think all these ways are systems that could work potentially maybe if we drew up a little map of a few different ways like one in which the Marketplace Marketplace pays fees one in which there
(26:46) are no percentage fees but Supply is adjusted Etc just as examples and then we could just look at them in our next meeting and maybe discuss the advantages and disadvantage manages of each one I think that’s a good idea personally I if we are collecting a fee of any with the goal of toonomic behavior that sort of central Reserve or that sort of tax analogy that was wonderful that was given before if we’re collecting a fee it should probably just be on the marketplace level just collecting the fee from the marketplace
(27:23) and let the marketplace collect fees from the vendors think we’re all agreeing with that way back yeah we’re like the yeah this is the Fed right exp like it sounds it sounds like a good idea but there’s a lot of different ways we could do it I’m open to yeah I mean it definitely sounds on the surface like it is stable and good I’m open to not just rush into a decision though maybe consider some different ways even if we’re just going to reject them I guess J I mean I like the idea oh no
(28:00) not I was going to say I like the idea of like charging a fee as a protocol level to Market places on a per transaction basis that just sort of like accumulates over time and allowing the vote that the market places have and and again this is just one possible implementation time you delay draw up but like allowing the marketplaces to vote on the percentage they’re willing to cover of the protocol fee for buyers and sellers and you can even allow that that that vote to result in a negative value right where you they were like no
(28:34) we’re not going to cover any of it in fact we’re gonna add a fee right on top of what the protocol inates and that fee goes to us right so that’s that’s one way of doing it I like that I think that I like that very much but that matches our sort of reward structure as well the marketplaces get to do the same thing to determine how missions are distributed amongst participants and so they can determine rewards and they can determine fees and exactly the same pattern suppose we each took it upon ourselves as homework sort
(29:13) of before next meeting to draw up some hypothetical way that the system could be put together like in very general terms in a in a diagram with just like big objects very simple not with numbers or anything like that like not with specific numbers I I think and then we just talked about them next week so I yeah that was what I was saying before Bo came as but I would like to Circle back to James what do you think about time frames John’s saying about more time can you can you kind of guide us on time frame in general like
(29:48) where we where you think we are now as a project how much time can you give us some kind of like maybe outline of what you think time frames should look like or should look like or if what were expectations are for this in general yes so I’ll I’ll start with the light paper um it’s roughly done it needs some love and I still got to ask you guys some questions but that’s the next two days we’ll have this working document and we could tear it apart it doesn’t cover anything like tokenomics it’s really
(30:20) simple like we might use the word blockchain in web 3 but it’s meant to be simple this is so you could potentially use for some of the e-commerce natives that you just talked to I think we’re good in a good we’re in a good spot with that as far as the white paper goes so that documentation that’s I would say two weeks after this is done and that will be some back and forth feedback and that will be in that time frame we should also strive to put the tokenomics model to bed once so we can play with the
(30:53) numbers but two so we can put it in that same white paper once that’s all taken care of so I guess two weeks from now then we’d be doing the developer pass of like documentation so yeah going through the white paper and actually making it more technical so yeah like two two or three weeks I think what we have here and what we have here should be done that should be our goal so okay so like first week April something like that yeah yeah ideally by ail okay maybe let Jam question yep go ahead please yeah we want some other people put some
(31:34) voices in have you consider I mean I I look at the spreadsheet that you shared and I know that a lot of numbers there are just placeholders but when it comes for example to the the final circulating supply of the token I mean do you have an idea is this something that requires like certain parameters is it something that we all have to agree or where does that number come from yeah so thank you for pointing that out and that goes for quite a bit here and this is something that I run into is we’re we’re
(32:08) discussing a lot of things in good detail and that’s awesome but there are some arbitrary or seemingly arbitrary decisions that need to be made for example market cap are we doing an Ido for this token would be like my first question because that influences the starting Supply if we’re not doing an Ido then we might have a very different Supply and our emission schedule isn’t actually introducing more Supply it’s just unlocking part of the initial Supply yeah thought so so how how much does it vary
(32:45) if it if we do an Ido or not I understand if we do an an Ido it would be a significantly higher circulating amount right so it it goes back to a few things if if you’re if you’re doing an Ido you need to consider like how much you can actually raise from the Ido you need to consider what you want the target token price to be and when those two things that’s when you determine the initial Supply and you might play do one more pass in a circling around that you also need to consider when you’re doing an
(33:20) Ido how supplies distributed initially AKA are whales just sniping this in buying a the craft load of the token and so what what you often see is like a sort of hybrid ideal approach where you do some of this Supply or like an Ido you sit on the rest of the supply and you sort of emit it according to growth of the marketplace itself okay so I guess if are should we be inclined to do an Ido we’re looking to raise money right via an Ido and if we are not looking to raise money we could do we don’t need an Ido we also
(34:03) steer away from basically being consider security which I think personally would be the license Etc but for the purpose of an initial exercise we can stay away from it and fund it our fund the project ourselves it would be a lot more simple but I don’t want to be over simplistic so but let’s say let’s say you set up a company just to finish the idea sorry if you have too many shares then what you’re basically looking is to keep the share of the right low if you have few shares right then usually the share of
(34:40) prices is the price of the shares is very high because you have very high concentration of of capital in in small circula Supply so what what have you thought in this sense like let’s say let’s forget about the Ido and just do a a thought experiment and then let’s do a thought experiment with the Ido just for me to understand more or less what the difference is in terms of volume circul I also want to put in another point for James and I don’t know if everyone agrees but it’s always been our strategy
(35:10) or at least a thought is to air drop I would like I think a few of us are on that board to kind of airdrop Amazon sellers and other major marketplaces to try to get them into the marketplace we have to talk about the technicals of that too but I I’d like to put a decent chunk to an airdrop to Amazon sellers Ecommerce Merchants as many marketplaces as we could include and if we air drop if we air drop do we need a DEX or can we just do that ourselves I mean Dex is for selling or buying you can give tokens people but
(35:44) they might not have anywhere to sell it that’s two different things you can drop tokens anybody if they have no no liquidity I mean that’s two different items yeah the term you would look up is liquidity provision and it’s pretty standard albeit sometimes expensive process depending on where you’re listening one thing I yeah so things conversations like this matter quite a bit for informing toonomic decisions for example something B said earlier in this call that would be an advantage of collecting
(36:16) Marketplace level fee and sort of using that to burn tokens is the fact that we don’t have to be sitting on a chunk of bik that would mean that we could essentially bootstrap ourselves and we could purs do like an aird drro process conversely if we’re trying to do a buy back and burn we either need to be making money very very quickly when we start off or we need to already be sitting on some money from an Ido or private Equity race that said I think we probably want to avoid a private Equity raise just
(36:48) based off of what I’ve seen with Founders if you’re pre-launch and pre-revenue you’ll get a lot of bad deals but as soon as launch then that sort of be the point to raise revenue from some of these species they’re not trying to screw you over and so my personal opinion I would do a small Ido maybe something like 10% or 20% of the total Supply launch have this sort of running for a bit and then do additional airdrops to reward Marketplace participants and encourage more people to interact with the
(37:27) ecosystem that’s my my personal opinion okay thank you there’s some other people on to Andre please go for it I encourage others to speak but if you have more to say but if others want to speak too we’d love to hear from others but you can go first Andre you have Mor or no no that’s fine f go ahead Nina is a regular I always appreciate her coming in do you have have do you have any thoughts or guidance for us she’s on you’re on mute I’m not sure if yet but we can continue in so two to
(38:05) three weeks is a point right that’s kind of like a good point that’s to confirm this should have this figured out yeah that’s what I would say the the Market’s running and I I know we’re less concerned with that because like this is an infrastructural project but it’s still influences things like an Ido so yeah provided we agree on some things and that might be more meetings than just the tokenomics meetings canate but like launch strategy marketing documentation of the light paper and the
(38:39) white paper like these all sort of progress together how how should we how should we come to an agreement of if it’s going to be an Ido what percentage of the token allocation would be granted through an Ido Etc because that would be also important for me to consider the the securi approach and also we we also have to consider which taxes are we going to use and also we have to sort of protect it from you citizens so I don’t know how some of you guys are going to work this around yeah so sequentially there there
(39:19) were three things there as far as reaching a conclusion on this I think we we should all take a crack at drawing something up this next Tuesday and that includes myself I’d like to to have a structured conversation about why individuals think they want a specific model and mind you this is often if if you don’t want to do this you don’t have time it’s okay then what I’m going to do is try to take all of the best parts put something together and make an official proposal to you guys and we can break it down from the
(39:51) context of that I think that would be in a more effective way as far as the security token thing I’m not too concerned about this being a security token in the sense that while we are trying to appreciate the price of the token it doesn’t actually represent ownership in the load pipe business rather it’s a utility token specifically for the governance of marketplaces so I don’t know I’m not the lawyer here but I think there’s the m i I think we can get away with not being a security token in that way and I forgot
(40:28) your last point I’m sorry us bling us yeah so there are businesses that do this they’re called liquidity providers and uh they accept some sort of amount of your token they listed on an exchange they ensure liquidity is there and they do this for a period of time they’re running bots in order to maintain price stability as well with the good guys in the worst case you have them take it and they don’t so it is important to find a good liquidity provider but they can sort of help us with the liquidity and
(41:05) then some of these exchanges themselves or these decentralized exchanges if they’re going that way they don’t necessarily support United States customers so if someone else creates an it’s not our fault go it yeah yeah yeah okay okay and you have access to to this requis providers or some someone else in this meeting I think everyone does like that okay great probably does too yeah excellent thank you yeah I mean we’re also talking to Yellow of well casually mentioned this but we would maybe we should actually tap into them
(41:42) maybe when we’re a little bit more ready to present is more but there’s been a few people there that I think could definitely support us in formal or informal ways right yeah I’ve actually met to met with yellow about two month months back talking them to them about like LP they do have pretty good terms as I understand it really not trying to dump the price of the token that said it is explicitly centralized exchanges so if you guys want this to be on decentralized exchanges initially that’s that’s not going to happen which
(42:19) also informs like some of the coding you might be doing I think that’s like a B inep team and then phos discussion I didn’t know that thanks all right we can keep this to an hour May sorry I don’t know if I got that right so you’re saying it would be more of an Ico and Ido I didn’t get the last part about the liquidity finally liquidity in centralized exchanges versus the centralized yeah so it would also carry over for the Ido or the Ico those are separate from the liquidity provisioning so liquidity provision is just setting
(42:58) the stage ensuring there’s some liquidity for like your Ido or your Ico event and then after your Ido and Ico event so liquidity provisioning is not a token sale but it does allow you to do a token sale and have liquidity so people can sell the token but I mean to clarify Andress yellow does Market making and James is just saying he met with them and they said one of their conditions is you can only list on centralized exchanges if you were to work with them I believe right J is that what you you said oh got
(43:33) it got it got it thank you okay thank you but if if you’re only listing on centralized exchanges you’re probably doing just an Ico correct exchanges all right all right okay got it so let do we keep to an hour today so that’s eight minutes or seven or eight minutes for 1 hour I know we’ve got in two or more in the past but so James what do you think we should do in if we’re going to c cap it in an hour oh I think like open for and we can also look at this like a little bit of the light paper that I put together I can point
(44:12) out some things that need to change and where I want some insight yeah I think that would be nice I love this I think i’ like to see it yeah and there’s no tokenomics in here not yet so I talk about what LO pipe is as I understand and disclaimer here if my understanding of blp is different than your understanding please please make a comment I’ll be sharing this after this call I think specifically from like a user adoption marketing point of view you always want to start up with the problems so I talk about the
(44:48) sort of monopolization of e-commerce platforms and some of the problems that arise from that that I go into how P solves these problems and this is certainly not I know for a fact there are other including here though if you see something that you’re working on that is another cool thing that load pipe is solving compared to C centralized Market places or web to Market places please add a note or even add it directly to the document then I have this little Loosey gooy conclusion something that I want to do what I have time for it is a
(45:24) comparison chart with Lo pipe and then other e-commerce marketplaces so breaking down Fe structure false reporting like metrics or ratios any sort of data that we can get our our hands on from these marketplaces and I know it’s sparse but I think that goes a long way and actually something that you probably want to do as you guys are discussing Marketing in the future is that sort of comparison and use that as the first thing you show to these vendors when you’re trying to onboard them one thing I wanted to talk to you about Mike is
(45:57) the sort of cold start dilemma I know we had discussed how load pipe is doing sort of tapping into web 3 and this nent need for web 3 users to be able to conveniently buy goods from marketplaces but like yeah how how do you plan on getting through the the cold start component like well I guess it’s a lot of people ask yeah we’ve been saying it I mean we we we actually just sent out a p newsletter no it’s going out in 5 hours but we’ve been keeping a Weekly Newsletter purse is a pure newsletter
(46:33) blog now it’s a separate entity from from L pipe Foundation it’s been through a lot of restructuring but it’s been keeping a a list warm of of previous first user database as well as a new there was like 600 signups in the last 30 days organic with a popup and they have been engaging pretty actively on the list so that’s our side start and our our sside start is is a global F Asia Community which you went to one of our meetups a couple weeks ago but there’s like it’s not as big as the buy side which I don’t think
(47:10) it needs to be but there’s a couple thousand vendors in our our newsletter and our database and our community and our events so that’s the cell side not starting from cold cold yeah no it’s been about 15 year 15 years of work and eight years of purse and 15 at okay thank you yeah so again this is not finished but this should be finished shortly I’ll be dropping the link please everyone just the first two pages go through if there’s something you’d like to add or amend let me know and this is
(47:42) sort of going to serve as the skeleton for our non-technical white paper what we’re going to do is each one of these different points or most of these different points we’re actually going to expand upon them and I think that will serve as a good explorative experience with a team too we’re going to start seeing which questions we haven’t been asking great I mean the other Justice is a question we’ve been asking but uh should also be included so yeah like dispute resolution and the approach that
(48:12) we’re taking there which we actually given a little bit of talk to last night Mike John we should talk about a bit and then another one is fill and I mean fulfillment of orders so like how delivery happens we we just been sort of like hunting this question to to like oh well it’s just the the responsibility of the seller and even if it is the responsibility of the seller we’re going to have to think about how to integrate that and then like how to track it as just part of a like well functioning
(48:40) e-commerce Marketplace so so yeah it’s it’s something that will need to be included that we that we just haven’t thought about at all okay this might be a good chance to get a paragraph down I don’t mean this little call but some sort of summary so I mean there’s a whole there’s a whole Rabbit Hole there I mean I don’t know if B knows but I I my really good friend he he does a well another friend James but this guy’s a software guy and he built a whole software solution he’s got about
(49:12) 10 warehouses mostly in the US that uses software Marshall and is but he doesn’t want to do as much he has one Warehouse himself he’s trying to sell it and he wants to focus on the software side but he’s not using blockchain at all so I said hey we we’re looking for that we could maybe integrate you in and he’s open for that he also is into blockchain already but not thinking this is like that but he has basically software and he has eight or nine warehouses in the US not his own but clients that probably
(49:41) wouldn’t why would they say no to like just kind of in my opinion at least but some kind of deal flow I see so it’s like we we have higher priorities we’re going to be able to figure this out we just don’t know what it is yet well I think that correct the strategies I think is similar to Amazon I think Martin we talked to to had similar idea we want to start with the customer first this is the bide like we want to start on the consumer side because we feel like the more I think the more value is getting the end
(50:11) customers buying from you and the vendors buying from you and then the fulfillments and the supply chain would come later because you already have the customer side and the vendor side so I I just feel like it’s not as high of priority okay even Amazon didn’t do their own warehouse at the beginning they started with books and they started like with the marketplace then they started to do it on Warehouse they didn’t do that at the beginning thank you for fulfilling me with or fulfilling me in with
(50:39) fulfillment fulfilling the fulfilling yeah yeah so I’ll drop the link it’s not complete but please everyone just take a small amount of time to throw in your thoughts iron this out and then build out on it before we go just a reminder for our next meeting I would well I’m certainly going to be presenting something you guys aren’t you don’t have to but if you guys have a sort of diagram of how you see this economics fitting together to present and we’ll solidify from there we can get it to bed and lastly next Friday
(51:14) is that when we want to meet or would we like to meet soon like Tuesday I mean I don’t know I don’t don’t I think Friday yeah I think we don’t want to burn people out yeah I don’t we don’t want to burn people out I know James you want to tra get more calls to do our homework plus we can discuss with each other as we’re doing our homework maybe James you could talk to some of us separately or certain people maybe or certain departments just me directly after this call if you have interest in me
(51:43) how I still need to talk to some people anyways for the like yeah know that sounds good to me and I’ll be dropping some updates I mid regarding diam okay great thank you thanks everybody so same time next Friday then [Music] weekend