June 2018
Dear community members,
I am writing this communication to provide an update to our loyal and supportive community on what we have achieved so far in Q2 of 2018 and things to look ahead to in the future.
This communication is a little ahead of time (planned for July originally) but owing to the recent developments, we thought that an update would help us express our ideas and quell some of your concerns which you may understandably have.
The iDealToken [DEALT]
We recently launched a new blockchain project and called it iDealToken. Along with this, we released a whitepaper, detailing why we felt the need to release this additional project, and how this project could help provide support for DEAL and the iDealCash project as a whole.
We proposed a new economic model, a dual-economy for iDealCash. This dual-currency model is described herein much more detail (readme).
Here is a quote from the aforementioned article:
The phrase "multiple payment systems" typically brings to mind objects such as checks, credit cards, debit cards and, more recently, "smart" cards. However, many countries throughout history have used more than one currency at a time. In fact, although we tend to forget it, the use of multiple currencies as media of exchange in the United States was common into the 1930s. During its bimetallism period, the United States used two different government-issued commodity monies: gold and silver coins. More recently, we observe two-currency payment systems in developing and transitional economies, in which many modern payment systems are unavailable. Nevertheless, citizens may adopt a dual-payment system by using the dollar in addition to their own locally issued fiat currency as a medium of exchange, store of value, and unit of account.
This is the point, we believe that a dual-currency model can work for iDealCash, DEAL will be the silver & DEALT will be the gold. DEAL will be the main way in which we transact value whereas DEALT will be the main way in which we store it.
Dual-currency crypto economies will start to flourish and persist more today and through the future as a way to avoid devaluation of the main original currency, and avoid unstable, unreliable banking systems, and government restrictions on your trade while using any different forms of payment.
DEAL & DEALT will work together to achieve the iDealCash vision, the vision we originally laid out in the white paper (you can find here). If all goes as planned, DEAL will gain privacy features that will keep your DEAL address and your transactions private. Although these are great features, we understand that some countries and governments may be against this and for this reason, DEALT will not have any privacy features and will continue to be as anonymous as Bitcoin is. This is one example where the features of these coins diverge.
The main point we are trying to get across is that DEAL & DEALT will be like Yin and Yang, complementary (rather than opposing) forces that interact to form a dynamic system in which the whole is greater than the assembled parts, our very own Bitcoin, and Litecoin equivalent. Yes, it is unique in the crypto-space and yes, new can be scary. This is what innovation looks like, we must have the courage to delve into the "unknown", for the unknown may give us the edge to be at the forefront of all cryptocurrencies and help us achieve the iDeal future.
The additional benefit of iDealToken is that it will directly support iDealCash. The BTC generated from the sale of the premine will help us get onto high volume exchanges (for both DEAL & DEALT) and support us in the development of the iDeal marketplace and other future projects.
The iDealToken Sale
We are going to change up the way in which this presale will operate to both increase demand in the token and ensure its decentralization throughout the process.
We have approx 2.1million coins left to sell, 2 million of these coins will be sold in random amounts over a period of 3–6 months (this period may be subject to change) the duration will help ensure adequate decentralization. The minimum we will sell at will remain at 250 sat, however, even if there are no buy orders above 250 sat, we may still not sell it to an order placed at 250 sat. This price does not guarantee you will get any DEALT, it just makes it possible that you could. Demand for DEALT will dictate how many tokens are sold, how frequently it is sold and at what price it is sold. We may not even sell a single token for an entire week, it all depends on the demand. We will never set any sell orders, if you buy from sell orders, you will be buying from other people who have previously purchased DEALT. If you want to support iDealCash, please set buy orders instead of buying from sell orders. The choice to buy DEALT remains your own and you can purchase it in whatever way you wish. ICQbase exchange will be the only exchange you can buy DEALT from and this will be the case until we declare the presale is over (buy DEALT).
Aside from this, we will be more actively marketing DEALT on our social channels and would like to ask that our community does the same. Remember, there will only ever be 5 million of these tokens, so as it stands they are currently highly undervalued. There are still 2 million of these coins that will be earned through staking. We have some competitions that will be taking place that will help spread the vision of iDealCash far and wide.
Exchanges
We have recently been listed on two new exchanges (Crex24, Stocks.exchange) and will be listed on Next.Exchange when they launch later this month, please stay tuned into our news channel for updates! We are working hard to get DEAL listed on an exchange with daily volumes that are over $1 million/day, as always, we will make an announcement on our Twitter, discord and news channel when there are further updates (buy DEAL).
Something Special
We are working on a new partnership with a company that is due to launch over the next few weeks. We cannot say much as there is a non-disclosure agreement between us, but we can share that this new partnership will be with a new exchange that is both easy to use and security focused. If all goes as planned and we manage to reach an agreement, the exchange will feature a DEAL market where DEAL will be paired up against a number of well-known cryptocurrencies. We will be one of the very few cryptocurrencies that have their own market on an exchange so soon after launching. This will be a significant step forwards for DEAL, as more and more people will use DEAL and will start to appreciate some of the benefits our project brings such as the fast transactions times and low fees.
Updates
We are busy updating our desktop and android wallets to bring you a better user interface and some cool new features such as the ability to send a % of your stakes to any address of your choice.
A Final Word
We want to thank everyone for your support thus far and we want to know that we are only here because of you!
We will always ensure that we are transparent and make sure that we communicate news to you as soon as we become aware of it.
We are the iDeal family and as such there can be no better than our own.
The iDealCash Team
Links and Resources
Website and exchanges
iDealCash and iDealToken websites
Buy DEAL
buy DEALT
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Main group
News channel
Turkish group
Dutch group
Brazilian group
Russian group
German group
Indonesian group
Discord - Tip-bot active
Discord server
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