$KERMAN: Recap, Lessons & Future

Thank you to the 24 backers that participated in the $KERMAN sale! I decided to close the sale slightly earlier because I managed to achieve the goal I set out to achieve: build a community of backers.

Some stats around the sale:

  • There were a total of 24 backers contributing a total of $23,255
  • $12,855 was contributed in stable coins, 52 ETH ($10,400) was contributed in ETH (pegged at $200)
  • Average contribution was $825
  • Maximum contribution was $5,000
  • The tokens have been airdropped to all holders. Uniswap trading will begin in the coming days.

Recap

Now, going onto the more meatier part of the experience. Quite simply, I’m blown away. Here’s some Tweets that capture a glimpse of what happened

To be fully honest, at one point I felt quite a lot of self doubt about whether I made the correct decision. However, since then, I think what’s worse than controversy, is no one actually caring. That’s far worse. The reign of #SoFi is here and it’s now up to people like myself to carry this movement into the future and push the boundaries of this experiment.

Lessons

Here’s some of the key things which really got reinforced to me during this:

  1. Reacting during a controversial period is often worse than responding. Closing Twitter and getting rest + fresh air is far better
  2. Journalists can have ulterior motives no matter how nice they are to you, be careful
  3. Embrace the experiments and run with it full speed, it only fails if no one cares about what you’re doing

Future

This is the part I’m actually most excited about. The Initial $KERMAN backer group will be closing down and an exclusive group for $KERMAN holders will be opened up. Roll will be market making $KERMAN on Uniswap and there is no difference between tokens purchased during primary issuance vs secondary markets.

In regards to the future of $KERMAN, here’s a few key points:

  1. Every month I’ll post the revenue that I earn via Stripe publicly ($AUD) and use 5% of it to purchase tokens on the open market.
  2. Token holders who meet the minimum of 15k $KERMAN will be eligible to participate in monthly/quarterly $KERMAN token holder calls. The cadence of this is still TBD and will require experimentation.
  3. All $KERMAN spent to redeem rewards will be burned forever. Rewards must be redeemed within 2 years unless specified in writing otherwise.
  4. $KERMAN is a pre-sale of time, labour, advertising space, content and partial governance over the $KERMAN community — not an investment or security. You can redeem rewards via the $KERMAN page on Roll

6. Governance votes will be done in Telegram once the voting application is setup. All votes are non-binding decisions and will be done subject to the nature of the decision.

Closing

Wrapping up, thank you to everyone who has been part of the sale and the process of it as well. I hope that #SoFi becomes something that is continually iterated on and millions more join the movement.