I would like to thank you for being the first of many to know about Deedcoin.
This is Charles, the author of the white paper and one of the Co-Founder’s of Deedcoin.
As the first person to put Deedcoin on paper and outline the path forward in mid 2017, I understood we were embarking on a long journey forward. The idea of creating a national network of brokers that would agree to work for 1% or give 2% back to buyers made sense to us. However, the idea of spreading this forward thinking mentality to independent brokers in 50 states seemed arduous.
Then we accomplished it by December.
Building the platform on deedcoinhq to coordinate transactions, bring brokers on board, accept native token, and create a single place to provide transparency for property owners seemed like a marathon.
Then we achieved it by January.
The accomplishment that came most easily, was being able to make people believe and understand this solution is possible. For that, I have to thank our token owners and supporters. This part has become easier thanks to you. The interaction level of our community, the growing organic traction from media, and the support of new brokers that want to join the cause have transformed Deedcoin from a dream to a reality. The Deedcoin owners already using Deedcoin purchased from the private sale have cemented our 10 month-old concept into the foundation of the industry. Deedcoin is here to stay.
Deedcoin’s development capital was not publicly sourced, it was provided by our Co-Founder Matthew Herrick and myself. We come from the world of regular business, where ideas are proven before outside funding is considered. We planted a seed, but our labor and your support brought it to life. Originally Deedcoin seemed like a engine that needed a massive injection of fuel to get started. Now we are realizing our organic way of doing things, combined with your assistance, has made this into a much more efficient machine. The sale goal of $105 million will be drastically reduced to reflect the company’s position as of today. Market penetration comes natural to the product, we have learned to build cutting edge tech in-house, while creating a streamlined process for the future MLS. With a lower hard cap and our learned capabilities, we no longer need the original sales goals to change this market. Quiet frankly, Deedcoin runs better on a lower token supply.
Deedcoin will be lowering the Hard Cap to $28 million.
As this is a fitting time, we have a second announcement. We will be doing a redistribution of the token on an upgraded protocol. This transition will be seamless.
All tech here is built in-house and we will be automatically filling wallets with a new Ethereum 223 token also called DEED. We will be running a script to find all the ERC20 DEED and sending an equal amount of ERC223 DEED. Afterwards, we will be running a separate script to gather and reconcile the matching balances to ensure accuracy. For your off-platform wallets, you will only need to update the smart contract address. Symbol, decimals, and balances will be the same. This will apply to all token that are purchased, bonuses won, or under contract. Founders and advisors tokens will be reduced and redistributed based on the same percentages from the new hard cap.
In the coming week and before the next sales phase, you will see the new DEED appear in your wallets, a new smart contract address online, and the material on the site adjust to the new numbers.
Thank You Deedcoin Family,
Charles Wismer