It may be useful to look back at how the $POWER token works to fund the development of the Civicpower voting cloud.
First of all, it is useful to recall here that the choice of a financing via a utility token was made in order to allow a total autonomy of the Civicpower foundation in the implementation of its online voting machines.
When it comes to a subject as sensitive as touching the vote there should be no doubt about the independence in the choices and management of its operator.
The financing via a utility token allows to commit to a fair sharing of the expected future gains with the community that supports the project, giving it the opportunity to contribute to the choices of the product roadmap, but in no way compromising the integrity of the votes nor influencing the results.
In the French or European system, financing with a token can be considered as crowdfunding with royalties. It is quite possible to lose one’s investment but it is also guaranteed that in case of success in the adoption of the tool a share of the revenues will be shared with the token holders.
Concerning the revenues, they are those of Votelab SAS, a company under French law. The concept of income leaves no room for doubt or interpretation: it is simply the entire direct or indirect turnover of the company which will be audited by our auditor KPMG every quarter.
The $POWER is a buy back & burn token, I mean a real buy back & burn token. It is not a matter of burning the team’s reserve but of buying tokens on the market from anyone who wants to sell them to us and then destroying them, thus causing a deflation of the money supply in circulation.
Each quarter starting in Q1 2022, we commit to buying back 32% of our euro token value turnover from the market and destroying it immediately. We will provide the address of the Ethereum transaction that records this quarterly POWER buy back & burn.
example: 384 000 € of turnover x 32% = 120 000 € of POWER token value bought back and destroyed.
In addition, each quarter starting in Q1 2022, we commit to repurchase 24% of our token value turnover in the market and compensate the Civicpower team with it. This amount will increase to 32% in 2023.
We will provide the address of the Ethereum transaction that allows us to see this quarterly redemption.
example : 384 000 € of turnover x 24% = 92 160 € of POWER token value bought back on the market.
This amount will be divided between the team and the Civicpower ecosystem allowing both the team to be interested in the positive evolution of the token’s value but also the entire Civtech ecosystem that will integrate our voting widget.
The Civicpower team is now more than twenty people within the foundation, the integrator Votelab and the token POWER team.
Civicpower website https://civicpower.vote
Public vote cloud https://app.civicpower.io
$POWER token https://civicpower.io
Telegram official channel http://t.me/powersoff
Our Facebook page https://www.facebook.com/pwrvote/
Twitter feed https://twitter.com/pwrvote
Git https://github.com/pwrvote
