REAL-TIME PAYMENT BLOCKCHAIN

Fundraising Initiative (clarification)

Earlier this week we published a form for project contributions in form of donations on the home page. We would like to take a moment to explain the rationale behind it and address the concerns raised by some members of the community.

We collected modest funds during the ICO, further affected by the falling market. While sufficient to carry out the main development track we’ve committed to, there are ancillary initiatives the community has expressed interest in or that have potential to increase awareness or improve adoption, that do not fit into our current budget.

Tier 1-2 exchange listings are expensive, and while they add to the liquidity of the token, they do not represent the “critical path” for the project and therefore are not allocated for in our current budget. We do however recognize there are different groups within the community for which liquidity is important. We also recognize that in order to speed adoption of the GRAFT ecosystem, it’s important to have as many gateways to the GRFT token as possible for increased visibility and to present opportunities for participants to engage where they feel most comfortable, i.e. their favorite exchange.

In addition to exchange listings, we have additional projects we can get involved in, like the ColdPay card. These projects require significant capital investment upfront.

To enable these new initiatives, we are opening up the project to voting and donations as a way for the community to indicate their appetite for us delivering on these initiatives and help fund these projects.

We have heard a few concerns so far from the community and would like to address those:

  • No specifics on the exchanges
    Most exchanges we enter into negotiations with ask for a non-disclosure agreement. They do it so that the negotiated amounts are not widely known and to avoid getting inundated with inquiries from the community. We will disclose what we can, when we can. (This is of course not applicable to community vote listings)
  • No transparency on the donation wallet
    The criteria for the payment system was that we could collect the shipping address data alongside the donation, and the promotion claim would be inextricably linked to the donation to prevent abuse. We can and will create a separate swipe wallet for the balance to be seen by the community.
  • Community doesn’t have enough visibility into the projects and use of funds
    We heard you – we’re adding a way to vote for these initiatives. Vote here


About GRAFT Project

GRAFT is a blockchain based payment processing network the functions similarly to a credit card processing network with off-chain authorizations and in-network atomic swap based interchanges. The network is completely decentralized, able to work cross borders and adapting to local regulatory environment. In addition to decentralization, GRAFT solves four biggest problems that exist in cryptocurrency at a point-of-sale today – privacy, speed, fees, and integration. Technically, GRAFT Network is a two layer (proof-of-work and proof-of-stake) blockchain with proof-of-stake based authorizations and economically incentivized participation with opportunities for mining, authorizations, in-network exchanges, gateway hosting, merchant services, etc.

GRAFT is open-platform, open-source, community project.
Opportunities are available to invest in GRAFT project with additional funds going towards marketing, liquidity (exchanges), additional dev resources, and new initiatives. If you are a qualified (accredited) investor who’s interested, please contact us at invest@graft.network and we will work to match you up with an appropriate investment option.

And of course we will never say no to project donations, providing you with lots of karma points (and an honorable mention on GRAFT site). To donate please send an email to info@graft.network and we will generate a unique donation address for you.