Here are questions we are asked often
- What is the initial distribution of the capital here, and the reasoning behind that distribution?
“The standard of “ 25% insider, 75% outsider splits (outsiders get 3x what insiders do).” By insiders, we refer to the core team, pre-launch investors, and close advisors — everyone who takes a risk that the venture may go to zero and that their labor and capital is lost. But 25% is on the light side of what is a more common 40–50% distribution to insiders
In Spacemesh we take pride in cutting closer to Bitcoin fair distribution ideal, compared with “The standard of “ with respect to insider/outsider distribution —
- Spacemesh has No Public Sale
- No Foundation nor any other Grants
- 75% (growing to 93%*) Freshly Minted to Miners Community over hundreds of years outside of anyone’s possible control
- 25% (shrinking to 7%*) for VC Investors and Team.
(*) Spacemesh coin issuance continue to mint new coins to miners for many decades to come — such action on-going-ly reduces further investors and team footprint on the public chain to an eventual 7%. Such small footprint, is useful not only about better decentralization, but also vital for ensuring that Spacemesh is a community-led project from the very early days
2. Why did you raise money at all? And if must, why not ICO, so commons rather than VCs stand to benefit?
Spacemesh has never done an ICO — Investing in such a high risk research-based project is not, we believe, a good investment for consumer inventors — soberly understand the risk in such project is a hard prolonged mission, suited only for professionals who have such expertise.
However, Spacemesh development company raised from VCs only $23m from which it survived modestly throughout the 5years of finalizing protocol research and proofs and the difficult construction of its first client. We take pride in the amount of boggling innovation team Spacemesh have delivered, in open source for commons domain, in exchange for such level funding.
We believe, even now in retrospect, our commitment to minimizing our footprint on the public infrastructure, could NOT have been embodied any better.
3. Does Spacemesh introduces new innovation to commons?
A completely new and completely different way of achieving consensus in permissionless settings. Humanity has interest in the outcome of this experiment, predominantly because Team-Human truly need diverse scalable decentralized infrastructure that poised to offer novel properties, and even more over, if novel properties just might manage onramp, many more millions of lesser privileged youth, to the crypto revolution. Or as our beautiful mind Dr. Iddo Bentov has it “It’s Definitely Worth Trying”
But Why? You might insist, assuming (reasonably) that sufficient robustness has already been achieved by Bitcoin does Spacemesh’s potential added decentralization even matter? YES, remain permanently open to newcomers permission-less-ly, in turn guarantees better governance, at any size economy. We stand that for the task of governance in particular (as distinct from Bitcoin’s Vault task) such extra decentralization carries much weight:
The importance of moving along the qualitative aspect of decentralization stems from a hidden lesson weeded throughout our history (that has now been completely forgotten) about the proper default position, proper way of making sense and acting in this world: Best described as sensor reporting *by-definition* biased and incomplete observations to a Selforgenizing Collective Intelligence, a center of rigorous synthesis. In this light, the cryptocurrency governance challenge, as akin to a decentralized mapping challange (of emergent social phenomena among many other things) — from this frame, the More observers, representing different viewpoints, to a collective rigorous analysis center, the More resistance to plutocracy / oligarchy & other forms of dogmatic locking. And the More accurate and faster to integrate such map would become. And this is what we dream to achieve with Spacemesh.
4. What is Spacemesh’s vision for cryptocurrency?
We find it reasonable that nation states will be around for the foreseeable future, and find their monopoly on violence obviously sensible, yet nonetheless see much merits in separating money from state. We strive for a world where all the public will have the means to gauge public officials actions and outcomes, and act informatively when determining whether to prolong their leadership.
The very existence of fully decentralized, anchored and permissionless ledger, in turn ensures we separate money from truth better, by ensuring the majority’s ‘winning together’ agenda could always be introduced, often despite the interests of the Elite rich minority. That would be a refreshing novel way to reduce our dependence on propaganda and electability prestige et al. Said otherwise, regardless of one’s political views Decentralized and bounded money systems are by definition resistant to evolutionary drifting and thereby increase Decency and Sustainability.
However such a level of adaptive capacity can not possibly be achieved without such infrastructure, and we find growing evidence to this awareness, even within the establishment, whereby more politicians slowly come to terms with decentralization, not as the eye-catching newsbytes has it “facilitator of dubious unregulated activities”, rather as added immunity and resilience in the separation of money and truth, which is no less than essential to our species survival.
I know some of you surely endure the chuckle at the essentialness, after all money is and was the source of most humans sorrow and betrayal, for you a reminder, ultimately, what’s up for grabs here, far and beyond money and truth, is our collective (integrated) attention, who gets the right to point it places? This is the superpower we must protect and decentralize the most. So that we immune ourselves to ‘leaders’ interests serving’ wars and violence. AND This makes a definite and conclusive case for the eminence of decentralized technologies infrastructure over the fiat system, from every possible angle of examination e.g. integration velocity, commonwealth, intervention precision, collaboration and cooperation potential, unity and coherence potential, future proofness, fairness and governance.
5. Can you explain why you think Spacemesh is better whale resistant?
We are not!
Remember, in the permissionless settings, any obvious idea to prefer smaller spacetime commitment over larger one is bound to fail, as each whale is likely to show up as many small miners to collect the added benefits.
We welcome big and small miners alike and aim to treat all size miners fairly. Sustaining linearity in rewards, means all miners are paid the same per base-unit spacetime, if a whale has 1000X my spacetime it will receive precisely 1000X my rewards.
Whales are welcome in Spacemesh if it makes sense for them economically- they are however bound to find out that upon fluctuations scaling up or down large operations takes longer so less agile to respond appropriately.
So home miners with baseline spacetime are likely to get cents per month, how’s that helping them?
There will certainly be months that will be the case, and hopefully other months it won’t. Over a long enough period of time home miners which operated consistently, stand the best chance to capture and capitalize on sudden value changes before larger operations adopt.
Thinking beyond the mining distribution which likely leads to hordes of kids making some fractions of Smesh daily, and prob some whales that manage to economically mine super lean. Such home miners are an ideal audience for smart contracts application, and it is here at this layer that one’s choices and time investment define one’s additional income in a manner whale can never follow times a million.
Shall one choose to Collaborate and build with other publicly owned services and products OR shall one choose any get rich quick scams is ultimately what will define their status
6. How do you see Spacemesh role? Why should anyone (outside the team and investors) care about Spacemesh?
- Value Alignment: we believe that the Quality of decentralization and permissionless Must Matter to Commons, we find calling in better on ramping and better protecting the interests of smaller home miner interests (for reasons already explained).
If you share this aspiration with us, way to demonstrate one support is to mine our coin permission-less-ly — challange will arrive on those durations mining rewards will drop to immaterial, will enough commons care enough to continue to mine smesh, to signal the sense they find in our effort to furthering decentralization.
- Riskless Lowkey Mining: if you happen to have what it takes already at home, there really is no reason for you to not try, doesn’t cost you anything, NOT BORING for sure, and just might make yourself a small ongoing side income
- If too Privileged: and such smallish amounts doesn’t move ur needle, you might nonetheless find joy in the hedge against the corrupting elements in power, your own little “cost-negative” contribution to a more decentralized, fair and sustainable future
- Spacemesh builders and community: Spacemesh community is the most Free, Creative, Complex, Joyful, Nature-Loving Community I’ve ever seen in my life. Just try asking a question in any of our Public-Channels and see for yourself. Or observe an assortment of random artifacts for your vibe sensing pleasure: