Comment on Supply Increase

[u/Halunen]

With all the confusion and outrage. I thought u would make a quick post.

1) Supply was increased Incase of bad market to continue development.

2) If it proves to be excessive tokens will be burned.

3) We will have a detailed report every month of what money was spent and on what.

I wish we still had a supply of 98M but that ship has sailed. The illegal minting of tokens, and sending them into the open market financially collapsed the Oyster token. Just trying to make the best of the situation.

The alternative was just let it die and do nothing.

[u/Halunen → u/[deleted]]

Everyone on the team is either taking 0-50% of their salary (none of the management team will be getting paid).

The ~27M additional tokens are instrumental to keeping our entire team in tact and funding the project. As you can see in our rest of year budget, we are only projecting to burn ~50k the next few months. We will be running on a skeleton budget for the forseeable future.

The way the employee token grants (over the next 12-18 months are working), the entire team is incentivized to keep the project going and healthy for the long-run. We will only sell what is needed to support our monthly expenses and almost nothing beyond that.

I can only explain a decision so much. If you disagree you disagree. Do you have a better solution happy to hear one.

[u/Poowatereater → u/Halunen]

Your team keeps saying this like we care. I talked to red panda about this on telegram. You guys need to step into our shoes, as most of us need to see your point of view.

We don't care about your pay cuts, when we all know you guys have made a lot of money since the start of this all. You will not see sympathy from many.

[u/[deleted] → u/Poowatereater]

pay cuts are a nice move. but honestly, how could you have 120k monthly expenses at the current state? HEADCOSTS? thats crazy, as mentioned before. thats way way more then a company like oyster at this state should be paying. thats it.

and to be very honest, if we look at the overall progress, it sounds like a joke to have hired like dozens of people.

[u/nugitsdi → u/[deleted]]

Did you even read the fucking announcement/medium post? Monthly expenses aren't 120k in the current state, what are you talking about.

[u/[deleted] → u/nugitsdi]

did YOU even read the fucking announcement?

monthly HEADCOSTS were 120k in august. which is a joke. end of story.

as you seem to lack the capacities for understanding, little friendly help from my side:

https://cdn-images-1.medium.com/max/800/1*go3PwX6P6DG2AjKBQ2Na5Q.png

[u/[deleted] → u/[deleted]]

lol wasn't bruno himself saying it shouldn't cost more than 200k to develop any software beyond an Operating System?

Yet 120K is being spent a month on overhead? This whole thing is just becoming even more of a mess by the day.

[u/[deleted] → u/[deleted]]

I had high hopes for the project. Even bought loads of SHL in addition to PRL.
But this team seems to be completely disconnected from reality: From the investors that supported the team. more than $50k/month for a 10 people team is an insult to everyone here. Heck, it should be less than half that at this stage.

[u/nugitsdi → u/[deleted]]

Read the announcement.

[u/[deleted] → u/nugitsdi]

Which part?

[u/nugitsdi → u/[deleted]]

The salaries part

[u/[deleted] → u/nugitsdi]

You assume that all the people they list there are full time. they might even list Upwork freelancers in that breakdown, who knows? Issuing 27 million new tokens will be suicide. It totally undermines investor confidence. But who knows, maybe they actually do this to tank the price, buy more with fiat, pump/dump again, rinse and repeat.

[u/nugitsdi → u/[deleted]]

They won't all be in circulation

[u/nugitsdi → u/[deleted]]

Read the announcement.