I hope that you guys are observing how most ICOs and IPOs and other initial coin offerings are supporting their teams. There are usually the automatic percentage allocated for them, for the sole reason that they created the currency. Which eventually leads to the team members dumping too much on the market when the price starts rising, killing momentum and trust over the whole thing and ending the viability and sustainability of the whole project and their related smaller endeavors.
Good Karma Society took a different approach. Their new KarmaToken, launched last November 02, 2016, will be distributed to project leaders only according to the time and efforts they are spending for the development of the project.
“In comparison here in our Good Karma Society, our leaders will only get KarmaToken by declaring the time/hours they can dedicate for the Society per day, 6 days a week. Encouraging sustained efforts of all interested parties, the rates of payment will be determined at this initial stage and will be given to the leaders every 2 weeks, as long as they keep working on and for the Society of Karma. For example if the fair (not too low, not too high, as of the moment Nov 04, 2016) rate per hour is 500 KTN then, if a dedicated Society leader has declared, he can concentrate 1 hour per day for our projects; then he will receive 6000 KTN every 2 weeks. Until he either quits or kicked from his responsibilities.” – East E., Lead Projects Coordinator, Good KarmaSociety.
This way, the Society and its projects are protected, its leaders will not lose interest when their ICO share is depleted as in other currency projects and just because they have no means of getting the supporting currency again other than buying from the holders and getting them that way has no relation whatsoever whether they continue working for the good of the projects or not.
It also gives more encouragements for the current leaders to work even harder and with more enthusiasm, with the knowledge that the currency they receive will be worth more when the time comes that their plans work out and their projects are realized. The 10 dollars worth of KTN today will be probably worth more after 1 month or some months later. Thus proportionately compensating the leaders efforts. Everyone holding and supporting the Good Karma Society benefits, while ensuring the currency’s utility.
KarmaToken is a Counterparty (XCP) asset with a total supply of 18,400,000 KTN. 50% of the total supply is reserved for coin swap with the old KARMA coin as voted by the community. Another 25% is going to be distributed via a free airdrop that is starting November 16, 2016.
“I am personally very happy at this stage that every thing we planned so far is doing great. Today the first batch of the KarmaToken will be sent to those who have requested the swap. Facebook advertisement done by delaforetnoire is also receiving great activity (more than what we expected actually). Our other social media posts and friendly support from other sites are coming in…slowly but surely, I guess everyone is happy to see an honest to goodness Society is forming amidst this shady side of town we call crypto.
So, a heartfelt thanks is in order for all of you who have lent a hand and are lending a hand, no matter how small, it is this gleam of hope that there’s good in everyone that keeps us going. Remember, we are not doing this just to have a cryptocurrency but to build a Good Karma Society, founded on the philosophy that GOOD KARMA wealth is better than financial gains. Though getting them both is also preferable.” – East E., Lead Projects Coordinator, Good KarmaSociety.
Another promotional activity is going on right now on Facebook, they called it the Indiesquare App Promo, that allows users to earn 100 KTN just for installing the Indiesquare App. For this promo Good Karma Society allocated 1,000,000 KTN.