I’ve FINALLY had a moment to listen to the July 2nd meeting and all the proposals and answers, thanks for your patience @brozee.
FIRST, THANK YOU @grantkee FOR your time and consideration. It is greatly appreciated.
Now that I’ve listened, I have a few additional questions or requests for clarification.
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There was a question about what if conversion rates were lower than expected, what is Telcoin’s contingency plan? The question was answered under the context that “conversion rates” was regarding the value of Telcoin 2:Telcoin 3,
WHEREAS I understood the context to be, "what if fewer holders, stakers, et al than assumed convert from Telcoin 2 to Telcoin 3 in the first 12 months, what is the contingency plan? Let’s assume <30% of the outstanding supply is converted at the end of the 12 month window due to lack of engagement, fees, lack of knowledge, etc. Does that change anything in Telcoin’s conversion window? Is there a target percentage that’s considered a successful 12 months? <30% seems like an extreme but if after 12 months, 70% of Telcoin 2 is locked with only 50% of that 70% available first come first serve, that’d be a lot of Telcoin 2 permanently sent to the community wallet after the 24 months. I bolded and italicized the crux of what I understood the question to be and I’d appreciate TAO’s thoughts on it.
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I do look forward to seeing the estimated wholesale and itemized budget for the migration costs over the next 24 months including ESTIMATED build costs, exchange costs, audit costs, security costs et al. Because this is a 24 month period and there have been multiple TELIPs and projects that have increased in cost and scope as they have progressed, is there a contingency budget that will be allocated for each itemized cost? If the budgets will be denominated in Telcoin, will unexpected drastic changes in Telcoin price be consideration for the budget? Thinking about past budgets that assumed an average value of $.005 Telcoin and (due to forces outside of Telcoin’s control) market and coin price dipped significantly below that, will that be accounted for in the budget or will we just use $ denomination?
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Related to the questions in 2, are there any financial statements Telcoin can provide regarding the financial health of the project? There have been multiple funding rounds in the past, how does a 2 year migration project affect the financial viability of the Telcoin project?
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Related, If this TELIP DOESN’T PASS, what are the contingencies? Can the project still move forward if the TELIP is rejected? I recognize a lot of the sensitive/proprietary financial information cannot be disclosed/made public, but what can?
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Any information provided to Otter & Co. Capital Holdings and other backers that can be disclosed in the context of providing confidence that a two year plan will be capital secured?
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I imagine this will be answered in the TELIP update but what is the expected timeframe from the various approval levels and then once final approval is confirmed, how long from final approval to the start of the conversion window?
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I apologize if this was answered already: Are validators/testers/MNOs currently testing with TEL3? If not, can they only start testing once all the council’s approvals are provided?
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Can Tim (legal’s) findings be added in some way to the FAQ page? Especially regarding claimaint law, etc.