3. Question: how does Nebulous make its money off Sia

Question: how does Nebulous make its money off Sia

  • M

    Hi,

    I am a little unclear how Nebulous, the company employing all the Sia Developers makes its money. I want to know how that company intends to keep funding its developement of the Sia coin basically.

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  • Global Moderator

    @MarshMallowMan I assumed they did some kind of crowdsale like every coin does but I wasn't around then. MAybe they have a stock pile of coins they can sell as the market creeps up.

    Make sure you tag me @bryan if you need to me respond.
    Forum Mod. I cannot fix transactions. I can't help with Mac or Linux.
    alt text
    Unofficial Web Based Siacoin Wallet. No more syncing.

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  • 2

    From the original announce thread on BCT:
    Sia has a second cryptocurrency, called the Siafund. 3.9% of all successful storage contract payouts go to the holders of the siafunds. There are 10,000 siafunds total, and all 10,000 are completely premined. Sia's parent company, Nebulous Inc., holds approximately 8750 of these siafunds. The remaining siafunds were sold in a crowdfund which helped to finance Sia's early development. The primary goal of siafunding is to provide a way to finance the development of Sia without relying on donations or a premine. More people using Sia means more funding available to hire more developers.

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  • Global Moderator

    @2xjO9M3P That explains a lot. Thanks.

    Make sure you tag me @bryan if you need to me respond.
    Forum Mod. I cannot fix transactions. I can't help with Mac or Linux.
    alt text
    Unofficial Web Based Siacoin Wallet. No more syncing.

    0

  • Sia is a product of Nebulous Incorporated. Nebulous is a for-profit company, and Sia is intended to be- come a primary source of income for the company. Nebulous intends to generate revenue from Sia in a manner proportional to the value added by Sia, as determined by the value of the contracts set up between clients and hosts. This is accomplished by imposing a fee on all contracts. When a contract is created, 3.9% of the contract fund is removed and distributed to the holders of siafunds . Nebulous Inc. will initially hold approx. 88% of the siafunds, and rest 12% is held by the early crowd-fund backers.

    Source: http://www.cryptocoinscorner.com/2017/06/crypto-currency-siacoin-sia.html

    Unofficial User / Tester / Analyst of Sia ( w/Renter and Host experience)

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  • M

    Thanks. I just wanted to make sure they had a really good incentive to make sure Sia coin development continued.

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  • M

    Also: the ASIC! Should be a major source of income over the coming months/years if it works out as planned. Presale to start tomorrow :-)

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