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Forget ICOs: Start building Continuous Organizations!

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The Continuous Organization model has been gaining strong interest in the crypto community lately. It allows organizations to set themselves in continuous fundraising mode while benefiting from solid and flexible community incentivization mechanisms. 

Thibauld Favre (https://twitter.com/thibauld), who invented the Continuous Organization model, presents what Continuous Organizations are in detail and why they are a better way to raise funds than an ICO (or a traditional fundraising for that matter).

You can learn event more about the Continuous Organization model in this Medium article: https://medium.com/@thibauld/introducing-continuous-organizations-22ad9d1f63b7 :)

Veröffentlicht in: Business
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Forget ICOs: Start building Continuous Organizations!

  1. 1. Continuous Organizations Reinventing the financial incentives of organizations using Bonding Curves @thibauld
  2. 2. Aligning interests in organizations is ! HARD !
  3. 3. An organisation success summarized 🚀=💡+💰+$ +💬+🍀 inspiring vision strong team adequate financing healthy governance a bit of luck
  4. 4. Success = repeatable business model 🚀=💡+💰+$ +💬+🍀🚀
  5. 5. Problem: it’s a very delicate balance... 🚀=💡+💰+$ +💬+🍀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀
  6. 6. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💡+ 💰+$ + 💬 ....that can go off balance very quickly
  7. 7. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Unstable equilibrium between stakeholders ) * + )* 💡+💰+$ +💬the entrepreneur(s) the investor(s) the employees the board
  8. 8. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Unstable equilibrium between stakeholders ) * + )* 💡+💰+$ +💬the entrepreneur(s) the investor(s) the employees the board
  9. 9. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Unstable equilibrium between stakeholders ) * + )* 💡+💰+$ +💬the entrepreneur(s) the investor(s) the employees the board , the community
  10. 10. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Unstable equilibrium between stakeholders ) +* ++ Entrepreneur: ! Solve Problem ! Avoid dying Employee: ! Have Purpose ! Maximize Compensation Investor: ! Maximize ROI ! Minimize risk , Community: ! Get financially rewarded ! Build long-term wealth
  11. 11. Interests are aligned using company’s shares * + )Common Stocks Preferred Stocks Stock Options 😢 💩 legal entity of the organization .
  12. 12. A common objective: Maximizing the upside + )** + ) 😢 💩 .
  13. 13. The big problem: LIQUIDITY How to turn this: ...into this? 😢 💩 . 💰
  14. 14. Without liquidity... * + )Entrepreneurs can lose everything until the last minute Investors need disproportionate governance rights Employees get worthless Stock Options 😢 💩 .So when bad news start coming...
  15. 15. The fragile alignment of interests evaporates 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 * Entrepreneur: ! Focus on minimizing downside vs maximizing upside Employee: ! Loses motivation ! Leaves company Investor: ! Uses is governance rights against founders OR ! Writes off investment and move on ) / +👇
  16. 16. ...and very often the startup death follows 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 * 💀 “Within 3 years, 92% of startups failed.” Source: Startup Genome
  17. 17. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Can we design better organizations? ) +* ++ ,
  18. 18. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 )+*+++, Can we design better organizations? More inclusive?
  19. 19. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Can we design better organizations? More robust? )+*+++,
  20. 20. 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 💩 💀 Can we design better organizations? More liquid? )+*+++,
  21. 21. Continuous Organizations ! A better model !
  22. 22. Continuous Organization - Definition A Continuous Organization is an organization that sets up a Decentralized Autonomous Trust (DAT) and gives it value by funneling part or all of its present or future cash-flows to it. The DAT is a specific immutable smart-contract that implements a bonding curve contract to automatically mint, burn and distribute fully digital security tokens (FAIRs) that represent a claim on the future cash-flows handled by the DAT.
  23. 23. Interests are aligned using company’s shares * + ), buy price function sell price function # tokens (supply) Price 🧔 📄Bonding Curve Contract Organization Community Investors Customers Buy-back reserve Beneficiary 0 ETH Treasury 100 ETH Tokens 0 TOKEN
  24. 24. Initializing The Bonding Curve * + ), sell price function # tokens (supply) Price 🧔 📄Bonding Curve Contract Organization Community Investors Customers Buy-back reserve (empty) Beneficiary 100 ETH 50 TOKENS 90 ETH buy price function 10 ETH 90 ETH 50 TOKENS Tokens Treasury
  25. 25. Buying Tokens * + ), sell price function # tokens (supply) Price 🧔 📄Bonding Curve Contract Organization Community Investors Customers Buy-back reserve Beneficiary90 ETH buy price function 100 ETH 30 TOKENS 180 ETH 50 TOKENS Tokens Treasury 20 ETH
  26. 26. Incentivizing Community * + ), sell price function # tokens (supply) Price 🧔 📄Bonding Curve Contract Organization Community Investors Customers Buy-back reserve Beneficiary buy price function 180 ETH 30 TOKENS Tokens Treasury 20 ETH 20 TOKENS 30 TOKENS
  27. 27. Selling Tokens * + ), sell price function # tokens (supply) Price 🧔 📄Bonding Curve Contract Organization Community Investors Customers Buy-back reserve Beneficiary buy price function 180 ETH Tokens Treasury 10 ETH 20 TOKENS 10 ETH 30 TOKENS 30 TOKENS
  28. 28. Purchasing a Product or Service * + ), sell price function # tokens (supply) Price 🧔 Bonding Curve Contract Organization Community Investors Customers Buy-back reserve Beneficiary buy price function 220 ETH 20 ETH Tokens Treasury 50 ETH 40 ETH 📄 35 TOKENS 5 TOKENS 35 TOKENS 5 TOKENS
  29. 29. Distributing “Dividends” * + ), # tokens (supply) Price 🧔 Bonding Curve Contract Organization Community Investors Customers Buy-back reserve Beneficiary buy price function 120 ETH 120 ETH Tokens Treasury 📄 50 TOKENS 50 TOKENS 15 TO KENS 100 ETH sell price function 15 TOKENS
  30. 30. Continuous Organization - Benefits 1. 📈 Continuous Fundraising 2. 🏄 Fully liquid tokens 3. 🌳 Attractive to long-term investors 4. 💲 Cash-flow based tokens 5. 🤗 Permission-less, friction-less & supra-national 6. 💬 Governance agnostic
  31. 31. Continuous Organization - Next steps Short term objectives: 1. 💾 Provide the community with a technical reference implementation 2. 9 Provide regulatory guidance to founders wanting to create Continuous Organizations 3. 💰 Raise funds to develop the Continuous Organization ecosystem (no ICO) 4. 🔬 Strengthen and improve the theoretical foundation of Continuous Organizations 5. , Foster the Continuous Organizations community worldwide
  32. 32. Continuous Organizations Get the latest updates: https://c-org.co Join the conversation: https://chat.c-org.co Follow the memes: @ContinuousOrg

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