[VOTE CLOSED myCoinvest] - a financial savings ecosystem powered by the NEM blockchain


#41

Thanks guys for the continual support! No matter how the polls turn out, we will continue to develop on NEM.

Actually our business could not run without nem :grin:


#42

Hi there. I like the first part where you can make micro savings with the app. Then I start to be lost with other services you can provide, specially when you talk about different tokens.
That sounds ICO for me.
You are also talking about utility token, but for me, the whole thing is a security. Are you planning to follow SEC rules about security tokens?
I dont’t know when, but at the end, all tokens will be regulate as security in all regulations over the world, so the sooner the ICOS and blockchain companies work on that the better.
I like part of the project, but not sure about the tokens and the referrals.


#43

I actually have my own complaints about how information is presented in the proposal, as things can get confusing. This is partly due to the depth of features included in the SMART Wallet.
When I first was trying to explain to newcomers, it felt like trying to explain all the features of Amazon at once, or like Internet to someone in the 1800’s. :stuck_out_tongue:

Default services offered within the SMART Wallet include:
-Banking
-Online Market
-Currency Exchange / Conversion
-Money Transfer
-Gift Card Redemption

More Detail on Banking:
Automatic Rounding - The SMART Saving solution allows a user to make micro deposits to their savings account anytime they shop. Any transaction you would normally make can be rounded to the nearest dollar, with the excess deposited into your SMART Wallet Savings.

Goals - Anyone with a myCoinvest account can set goals to work towards. Users can set as many goals and as large of goals as they like.

Daily Payout - Savings held in SMART Wallets, and applied to goals, are utilized by myCoinvest to issue margin loans to cryptocurrency traders. Profits from these margin loans are disbursed to goal setters on a daily basis. This means that each day you hold a balance, you will receive recurring income.

Margin Loans - Margin loans are issued to cryptocurrency traders within the myCoinvest platform, as well as external exchanges. Margin loans are always secured by collateral, providing great security for the lender (myCoinvest).

More Details on Market:

Cost Reduction - Individuals and businesses may buy or sell any legal item, as they would in any other online marketplace. However, the security and efficiency inherent in NEM Blockchain allows us to drastically reduce costs of record keeping, transactions, and dispute resolution. These savings are passed on to users via unprecedented discounts in fees.

Security - All transactions that occur within the marketplace will be conducted via our NEM Mosaic, CVZ. Buyers will not have to trust sellers with sensitive data, such as credit card numbers, and sellers won’t have to worry about chargebacks or double spending.
NEM public ledger provides additional transparency into all transactions - even those of myCoinvest itself!

Ease of Use - Since the marketplace is included within the same app that provides a savings account and currency exchange. Users no longer have to finagle around trying to move money, convert it, withdraw it, nor any of the inconveniences within other marketplaces.
3rd party application can also connect via myCoinvest API - further enhancing usability.

More Details on Exchange:

Trade: Users can trade crytpocurrencies like on any other crypto exchange. - As well as convert them to and from supported fiat currencies.
Fiat Conversion Supported fiat currencies can be applied to goals as mentioned above.

More Details on Money Transfer:
Users can conduct fiat to fiat transactions between supported currencies.
For example, sending USD to someone who needs PHP. USD is converted to CVZ - transmitted on blockchain - then CVZ converted to PHP in recipients account.

More Details on Gift Card Redemption:
Users can place a goal in the marketplace for others to fulfill.
Other users can purchase the desired item for the goal setter using their gift cards, rewards points, etc.
Person who fulfills the goal receives payout in CVZ equal to fiat amount of goal. This can then be converted to other currencies, including fiat.

Regarding legal compliance - We have a law firm working with us to make sure we adhere to all laws and regulations. We are not selling any securities, do not have an ICO, and CVZ does not represent any stake in the company nor it’s holdings, but is used to facilitate the services mentioned above.
CVZT is used primarily for governance and is freely exchangeable with CVZ within the myCoinvest platform.
Therefore, under current laws, our mosaics are not classified as a security - and our legal team reassures us that it is unlikely to be in the foreseeable future. However, we are able to adapt in the unlikely event a curve-ball is thrown our way.
Your point about all digital ledger marks / tokens / mosaics being classified as a security is highly debatable in wide circles of the cryptocurrency community - and even the SEC chairman himself says Bitcoin is not a security.

Last bit about referrals. Nearly every major online company, and many brick and mortar stores as well, have referral programs. Amazon, Walmart, Cloudways, Binance, GoDaddy, AliExpress, etc, (could go on forever) use referral systems to help grow their user base.
I find it odd that people have found this as a negative thing, because it actually gives more back to the community for their effort. We could have an option available so those who refer a friend but don’t want any benefit from it, can opt-out, but I suspect very few would choose to do so. :slight_smile:

Please feel free to ask any further questions! We want clarity!
sorry for so many edits. I’m working from laptop right now, and my screen just isn’t big enough.


#44

This graphic details one use case of the many that will occur on the myCoinvest system.


#45

Hi there. I like the first part where you can make micro savings with the app. Then I start to be lost with other services you can provide, specially when you talk about different tokens?

For our tokenomics we’ve created a 2 token ecosystem.

Vezcoin (CVZ) & Vezcoin Token(CVZT)

You can look at the two as such.

CVZ = medium of exchange between users. This is what we place in the Smart Contracts to facilitate the trade of “Reward Points” for “Savings Goal” (Micro savings you mention) on the Vezclub Exchange

Given out freely through “Utility in Community” and VezTask

CVZT = Equity in myCoinvest… equity comes with everything that is traditionally offered in normal companies. That includes: Governance | Stakeholdership (Quarterly Dividends/Bonus)

If you are a token holder, then you receive quarterly bonuses from the fees generated in the ecosystem.

You also can contribute to ecosystem voting similar to NEM’s community. EX. (Supporting a new digital asset to be added on the Vezclub)

That sounds ICO for me.

Originally it was intended for an ICO, but as the rules and the regulatory environment shifted over time in the US we had to adopt and change our distribution model to “Utility in Community”

This shift, forced us to think about the true meaning of an ICO. What we concluded was the purpose of an ICO was for two reasons: Distributing coins globally & Raising funds.

Our Workaround

Utility in Community is our method of distributing coins globally. Through service task, members can earn coins for helping us build our ecosystem.

For funding, we’re looking to raise funds through the NEM community. The highway of our ecosystem.

Are you planning to follow SEC rules about security tokens?

Of course. We’re very cognizant of the regulatory environment in the US. We have a great team of lawyers working with us in Atlanta.

While our Vezcoin may not be a secuirty since it is given out for a service. our Vezcoin token is. As of right now, our CVZT is stored away in a multisig contract and will not be issued out to the public.

I like part of the project, but not sure about the tokens and the referrals?

Most companies have some type of referral program to incentivize growth. Binance is a good example.

We’re no different. We created our referral program with the NEM’s POI consensus in mind.
(Vested Balance + Activity)

Here’s what we came up with as our trust consensus in the network.
Investor Score = (Account Balance + (Activity/Vezting) + Referrals)

As a user, you will have an overall account value which is the sum of your micro savings. You can look at this as the vested balance.

The activity portion was the tricky part. The question was… How could we incentivize users to transact with each other?

What we came up with, was the act of “Vezting”.

This is where the referral program comes into play. Vezting can only be done once you refer another user into your myCoinvest network. Once in your network, you have the option to vezt.

Vezting is essential group saving, incentivized through a bonus that we facilitate with smart contracts. Ex. Me and Omar, both want to save $100 for a vacation. We select to Vezt together (lock our money in a smart contract) for one month and receive a bonus payout at the end.

The benefit to us as a company, is that it allows

  1. Users to obtain different levels of status based on their activity in the network. (Accolades)
  2. With NEM’s POI being the infrastructure, we can set up Nodes to benefit MCV through the harvesting of blocks as our users interact on our platform

I hope this provides more clarity my friend.


#46

How to vote for the myCoinvest proposal

Voting is now open for the myCoinvest Community Fund proposal. Please show your support for the project.

:white_check_mark: To vote YES (I support):

Send a 0 XEM transaction to:

NDNETT-57K3JY-7PGKJY-RS3DP7-GUFSKK-HMRUOD-JPX6

:no_entry:️ To vote NO (I do not support):

Send a 0 XEM transaction to:

NCDLV3-GKAANX-Y5RPIR-CL4WMA-EOC5YO-QRGNCK-K2DX


#47

Hello myCoinvest-team,

a hundred CVZ are one CVZT?
and with atelast one CVZT i can vote if there are proposals?


#48

In order to vote you will need 50 CVZT


#49

Here’s a bit from the conversation in NEMberia eariler today https://t.me/nemberia

"This app will be awesome for the non crypto user.

Imagine this user experience.

I’m really into VR and want to by this new HTC VIVE Headset.

I save up the entire amount through the app (micro savings)

I now have the choice to: “Fulfull your goal” through the vezclub exchange https://vezclub.mycoinvest.tech/goals

My order sits for a couple hours then another user in the network comes and buys my headset using his Amazon Giftcard. https://vezclub.mycoinvest.tech/redeem

Since he’s a prime member I now receive my Headset two days later to my door step.

Not to mention at a discount :stuck_out_tongue_winking_eye:

All using the NEM blockchain :smile:"


#50

I have a few questions:

  1. I currently spend my day-to-day purchases with a credit card and pay that bill monthly with a checking account. Will there be a way to utilize mycoinvez to round up transactions automatically using this method?

  2. What is the benefit of using two separate tokens (cvz and cvzt)? why not just use 1 token and allocate governance importance with CVZ.

  3. who holds all the cvzt currently and will they ever be distributed and traded freely on exchanges? if so, will the value be fluctuate separately from CVZ or will the price always be fixed to cvz 100 to 1.


#51

currently spend my day-to-day purchases with a credit card and pay that bill monthly with a checking account. Will there be a way to utilize mycoinvez to round up transactions automatically using this method?

Yes exactly. Im the same way, the platform has the potential to monitor your checking account, credit card, or even both.

Depending on how aggressive you would like to save of course.

What is the benefit of using two separate tokens (cvz and cvzt)? why not just use 1 token and allocate governance importance with CVZ.

who holds all the cvzt currently and will they ever be distributed and traded freely on exchanges? if so, will the value be fluctuate separately from CVZ or will the price always be fixed to cvz 100 to 1.

Great question!

So its all about tokenomics and controling the supply and demand.

Having two coins, also gives us the flexibility to allow for a customized portfolio experience for our users. Think of it as a hedge for them

A user is incentivized to hold on to each coin for different reasons.

CVZ = value exchange
CVZT = Equity/Governance
100 :1 relationship

The purpose of CVZ, is for it to be the main medium of exchange on the platform.

From an investment standpoint, I would look at this as mainly a short term play.
ex. (sending money to friends/family or a short team savings goal)

Distribution: External (Free Market)

The purpose of the CVZT is to become a stakeholder in the MCV ecosystem.

From an investment standpoint, this is more of a long term play. Ex. quarterly dividends

Distribution: Internal (Only Vezclub Exchange)

Tokenomics: 100: 1 relationship - Held Constant
Drive demand of CVZ through utility and service.
Restrict supply of CVZT through 1 trading exchange.

Currently CVZ is being given out for adding value to our ecosystem https://www.mycoinvest.tech/jobs/

CVZT is held by the founding and dev team. We’re currently exploring creatives ways to push this out to our community before out exchange Go-Live



#52

It’s the last hour of voting! Over 80% approval, but only half the POI we need. If you voted no, or chose not to vote - Please tell us why so we can address the issue!