A couple of weeks ago we launched the initial version of DevShares without consulting with the community first. At the time I thought the allocation shouldn’t be a big deal because it would be a low value, highly unstable, coin with no intention of becoming a competitor. It became apparent that I was mistaken about the symbolic importance of the allocation. Today I would like to apologize for any confusion and the mixed signals. Then I will reveal details of our latest effort to launch our DevShares network. If you are unfamiliar with what DevShares is, checkout my post on The Value of DevShares.
I had made statements prior to the November 5th snapshot that it would be the “last” snapshot used by Invictus and that in the future DevShares would recognize that snapshot as well. Many things changed since November 5th such as the return of all PTS that was donated to Invictus. In an attempt to recognize the massive reallocation of PTS, I wanted to honor the December 14th snapshot used by the new PTS and Sparkle. As I said before, this was a genuine attempt to be fair and inclusive.
The debate that occurred on the forums gradually won me over to the opinion that BitShares should have been honored with 100%. This would have granted AGS/PTS their combined 20% from the vesting balance and completely honored the social consensus of AGS/PTS and BTS.
There have been several other points of contention regarding the allocation of the VOTE, DNS, AGS and PTS vesting share drop such as the allocation retained by Follow My Vote. I have worked things out with the relevant parties and have come up with a solution that we hope will work for everyone.
New DevShares Allocation
We have relaunched DevShares with a 100% allocation to BTS excluding the vesting balance held by Follow My Vote as well as the vesting balance held by Invictus in the angel address. We have reduced the vesting period in DevShares to 2 months from 2 years for the purpose of testing vesting balance functions.
We decided to go for this allocation because it was the best way to remove conflict within the BitShares community and redistribute the angel stake to all stakeholders given we were unable to do a snapshot of PTS after we had returned the funds.
The original DevShares network has been abandoned and should have no value. It will not be supported. We did not recommend anyone buy it, saw no attempts to buy or sell it on the forum, and it was not listed on any exchanges. In theory no losses.
We have created a new Github repository for DevShares releases. If you would like to help test DevShares you can find the latest releases here:
Once again I would like to apologize for any and all confusion. It is our intent to improve our communication and consistency in the future.