All Robins, the time is now!
Buy two shares for the price of one.
1. Two shares for the price of one!
2. How to contribute
3. How does the campaign work?
4. Why is this campaign taking place ?
5. What happens if the goal is met?
6. What is the value of Robin Hood 2.0?
7. Further details on the Software Development
1. Two shares for the price of one!
And buy as many as you want, to guarantee that Robin Hood continues its historic mission.
Firstly, warm thanks to the members that already bought voluntary shares before the campaign even started.
This is a positive sign to the coop's owners who are all and each of its members!
Also deep gratitude to those volunteered to the software development towards finalising our application. Rauno Ots has been the most active new contributor. Rauno organised our GitHub repositories in record time and is now exploring the codebase. If you are into programming and/or have an account feel free to start at the GitHub wiki.
(More volunteers are welcome for this and other areas, please let us know of your interest.)
This campaign is also open for new members so please spread the message to potential new members you might know, go ahead sharing this and the previous letter.
Take the opportunity and be proud of your ownership of Robin’s innovative platform for the Crypto Finance of the Commons.
The campaign goal is to raise 30.000EUR by the end of February 2020, against the alternative which will be to close down.
2. How to contribute
If the target amount is not reached the money invested by the members on this campaign will be returned to them right away.
Send funds to:
a) If you want to buy shares with Euros:
(or corresponding amount in another national currency)
Account holder: Robin Hood Asset Management Cooperative
Bank: Osuuspankki
Bank Address: TSOP, Hämeenkatu 12, 33100 Tampere, Finland
BIC: OKOYFIHH
IBAN: FI13 5730 0820 7695 90
Instructions:
Send an email to contact@robinhoodcoop.org preferably from the email address you have associated with your RH member account (1) informing about your shares purchase with transaction details and (2) include your own bank account info where you want the money to be returned if the target sum is not reached: your Account Holder’s name, IBAN (International Bank Account number, BIC (Bank Identifier Code) and the corresponding bank address.
b) If you want to buy shares with BTC (Bitcoin) send funds to:
Robin Hood BTC wallet address: 38PHuuNaBKbbh6mPcRSKq6oKMMA4agpJhp
Instructions:
Send an email to contact@robinhoodcoop.org preferably from the email address you have associated with your RH member account (1) informing about your shares purchase telling us the transaction hash or at least address from where you are sending, and (2) tell us a BTC address of yours where you want the sum (minus transaction fees) to be returned if the coop does not reach the target sum.
Attention: do not send any other currency than BTC to our BTC wallet. Another currency funds send to a Bitcoin wallet will be permanently lost, so make sure you are sending BTC.
Either way, if you have doubts or issues we are happy to support you.
When the funds reach our side we will send you an email with the payment receipt and confirm the number of your shares updated in the coop’s share registry.
(Due to lack of workforce we have been unable to reply to all emails in good time but you have the board's commitment that this will happen shortly.)
3. How does the campaign work?
Every voluntary share purchased (30€) gives an additional voluntary share. Two for the price of one! Buy as many as you want.
The more shares you buy the closer we are to our target sum needed to keep the coop alive.
And more capital you will have to participate in its future and the future or the related initiatives.
The target is to reach 30 000 € by the and of February. The amount is to be collected by selling more cooperative shares.
The use of the collected resources is allowed only to budgeted purpose and is controlled by the board and reported live on a shared excel-sheet to the members.
If the target amount is NOT reached, the capital will be returned to the investors (like typically in a crowdfunding campaign).
4. Why is this campaign taking place?
In order to avoid closing down the cooperative, the Annual General Meeting 2019 decided to launch a refinancing campaign.
The coop is out of funds and member pages are still unfinished (therefore inaccessible to members), which is crucial for the organization functioning.
And to go forward achieving our unchanged overall goal:
Democratizing finance and enabling commons building initiatives with our technical and legal innovation. We really want to provide this to the world.
The software under development needing to be funded is a collective tool for horizontal projects and resources management within distributed networks.
It thus far has inspired and sparked the imagination of thousands of people, many dozens of projects and yet resulted in several partnerships and collaborations that would not exist otherwise.
5. What happens if the goal is met?
The board gathers a team of volunteers to prepare the implementation plan and thereafter work accordingly on the finalization of the new members platform.
This includes:
Members registry, the creation of tokens representing shares to be distributed to all members according to ownership, a peer-to-peer shares trade section;
Plus restart the feature for the registration/sign up to new members (very important as new membership fees are one of our income sources).
The cooperative has been called for an extra general meeting to be held on the 15.3.2020.
The agenda is to approve the detailed action plan, budget and coordination for the finalization of the platform or, if the target amount has not been reached, or if the plan is not approved, move to closing the cooperative.
More questons and answers in the forums: https://discourse.robinhoodcoop.org/t/faq-on-refinancing/1342
6. What is the value of Robin Hood 2.0?
An innovative platform for the Crypto Finance of the Commons
A cooperative whose shares are p2p exchangeable cryptotokens. We are proposing a new kind of democratically governed and decentralized financial cooperation tool, a community for risking and speculating together, prototyping new financial instruments, also offering a legally compliant service to have exposure to the crypto market.
We will have a cryptotoken that offers the possibility to design new portfolios and include new tokenized asset classes in a legally compliant ways. This token can be peer-to-peer exchanged, so is therefore a token that has “moneyness” outside the coop, as other cryptocurrencies.
From the cooperative movement perspective the innovation is in the flexibility, decentralization and distribution that the cryptotokens afford; from the crypto perspective the innovation is the legal and governance model that a cooperative’s form gives to a crypto-organisation.
The value of the coop to its members is to be part of this community and to have a stake in its action. To have a say and effect in the future of finance and new economic and monetary design.
We want to together continue doing history.
Thanks everyones for the patience, efforts and support!
7. Further details on the Software Development
Firstly we need a member and share register that can be accessed by the members (this has been impossible for a too long time) and easily managed by the administration. Including:
-member account login & typical auxiliary functions (change personal info, reset password)
-member functions: see amount and value of shares, buy more shares
-new members registration: account creation and shares purchase
-admin: see & edit member and shares register
-admin: see & edit share price
-admin: issue new shares to a member
Having the above minimal functions in place would restore the coop’s income avenues which along with the continuation of the investment strategies (as decided previously by the members in assembly) would give the coop room to further developing the platform in terms of managing the tokens, for more investment, and for the development of commons building financial instruments at the service of multiple projects.
Secondly we have firm plans regarding Managing the shares/tokens:
-pooling resources for investments: as the tokens function like cryptocurrency they can be pooled directly by members for different purposes, such as
- commons-building/project-economy: commons projects may propose themselves, and owners of the tokens may finance the projects through staking their tokens to those projects within the platform
- investment pools: members can create different investment instruments, and owners of tokens may assign their assets, via their tokens, to these instruments according to their purposes
-existence on the aftermarket: voluntary tokens/shares can be bought and sold as any other cryptotokens (no more waiting periods etc.); if the market is liquid, they will function as cryptocurrencies on exchanges (have “moneyness”).
It is important to notice that it is these innovations that will make the cooperative and its membership (and thus its tokens) valuable.
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