I had the chance to spend several hours in person with Asher, the CEO of BLiV, so based on this discussion I'm revising my review with some notes:
[another update after the AMA] Removed 1 star because of two reasons:
- Team tokens still at original short vesting... so the minus star is to put additional pressure to increase the vesting schedule of the team tokens
- Not designing the tokenomics to be SEC compliant right now, makes it impossible to fix later I'm afraid, and the US is a big market to lose.
**SEC compliance The healthcare market is huge in the US, unfortunately given that BLiV is pre-sold with a price increasing ladder, it is likely to fail the Howey Test and be classified as an unregistered security, which mean it could eventually be excluded from the US market and delisted from centralized exchanges. After discussion, Asher is open to fund the business through Equity & NFT sale only, and consider a token without pre-minted token allocation, this way the token could be SEC compliant in the US.
**If the token continue in the current path with a pre-sale, here's some details of the vesting schedule 44M tokens to be unlocked at TGE. (I will be able to complete my calculations once I get a copy of the token allocation table) Asher is willing to increase the 36 months vesting schedule of the team to 4 or 5 years potentially but has not committed yet
**Real World Assets I'm increasing by 1 star the ranking because of their interest to buy real world health-related companies making the economic model of the business even more viable. However, it also makes it even more of a security with the tokenized-asset model. After discussion with Asher, he agreed that the economics of these real world assets could go as reward in a staking pool specifically and not directly in a token buyback, this way the token doesn't get to be classified as a security on the token itself, only the staking pool would become classified as a security offering. It still create demand for the token, but the rewards only goes to the staking pool participants which could exclude the US until proper licensing is obtained.
**Buyout of the founder existing company Regarding BLiV buying out the founder company, it sounds great, but then we have to worry about the price of that acquisition. Will it be at a 100X price to earning ratio? How do we ensure the community of BLiV will get a fair price for that acquisition? I think we would need a bit more details to see if it's a good deal or not, or it should be mediated by an independent board. I didn't had the chance to discuss this aspect with him yet but I have a feeling he would be more than happy to make it a fair deal. Asher said he would commit 20% of his personal share of his existing business as a donation to BLiV, that's a very altruistic thing to do.
** token rewards to participants will not crash the economy After discussion, I understand that the reward for people's face scan will not be in the BLiV token, it will be in the centralized token, and the ratio of that token to BLiV will be constantly adjusted to ensure the reward doesn't exceed the revenue being generated. This way it becomes impossible for the economy to collapse like other x-to-earn models. This is the most significant reason why I'm giving a 5 stars.
I was impressed with Asher's understanding of the crypto markets, some of our discussion clearly gave me the realisation that he has more advanced knowledge of the industry than most people. Even some people who have been in the industry for the past 10 years, don't always understand the intricacies. Here's an example, burning mechanisms sounds great in theory because it create a deflationary model, however when liquidities of the token shrinks, this can lead to exponential price movements (higher volatility), and most people in the industry don't seems to understand things like this. In order to fully grasp this concept, one has to compute edge cases of liquidities on DEX for example.
Overall, even if not 5 stars, it is still very strong. Show Less
5
