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Please FORWARD this letter to anyone who might support the coop.
Dear Robins,
We've reached the 30.000€ target!!!
Bonus shares still available but only up to Sunday.
Don't miss the opportunity and be part of those who saved the coop.
We are now going for the next target 35.000€.
If we reach 35K Economic Space Agency has promised to put 65.000€ worth of ECSA tokens as a seed for our crypto-investment fund!
It has been amazing and rewarding to get all your support. The team has put a lot of work into this and again, no regrets! Thank you all!
This will allow Robin Hood to proceed with its innovations and try everything to raise the value of the shares.
1. How to purchase shares
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):
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.
If the target amount is not reached the money invested in this campaign will be returned.
2. Robin Hood in a nutshell
The Robin Hood Asset Management Cooperative started in 2012 as a Wall Street alternative hedge fund for supporting independent projects, and is now seeking investments for finalizing the software application that will ultimately transform it into A Platform for the Crypto Finance of the Commons.
The coop members (its owners) and supporters all over the world have been waiting for this.
In the past we have funded different international Commons based initiatives, collaborated closely with and inspired yet many more into the future of autonomous organizations. People see the new platform as yet another Robin Hood contribution towards a fairer world.
This new platform presents both an innovation in technological and legal terms by offering cooperative shares in the form of peer to peer exchangeable cryptotokens - a legally compliant service to provide exposure to the crypto markets.
Robin Hood continues to reclaim finance as a tool at everyone’s favor, not for the 1%, nor for the powers of predatory and extractive economies that exhaust both human and natural resources.
Nevertheless we have been getting closer and closer to the conclusion of the software, we are on the verge of being forced to close down the cooperative due to lack of funds, and to abort all its operations.
For the last 8 years Robin Hood has been a celebrated laboratory of new modes of cooperation and self management around money, a hub for political economy thinking and a collective of bold minds that insistently aim at better access and distribution of financial means and wealth creation.
The old Robin Hood shares need now to become a cryptocurrency. As much as other areas of life, the digitalization of money is a reality and it just isn’t the mainstream yet because the banking industry and other hegemonic extractive institutions have little or nothing to benefit from democratically governed, decentralized and distributed financial cooperation tools such as the one we are here presenting.
As a hub for new autonomous economic spaces, we believe this platform will bring back value to the cooperative, its members, its related projects and the common good.
And we want to continue doing history together.
Support Robin Hood, participate to this community!
To have a stake and effect in the future of finance and the new economic and monetary designs that will shape the future world.
3. What are the campaign conditions?
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 the 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.
If the target amount is NOT reached, the capital will be returned to the investors (like typically in a crowdfunding campaign).
4. Why are we doing this?
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 is the importance of Robin Hood 2.0?
We will have a cryptotoken (new version of the old cooperative shares) that offers the possibility to design new portfolios and include new tokenized asset classes in legally compliant ways. This token can be peer-to-peer exchanged, so is therefore a token that has “moneyness” outside the coop, functioning as other cryptocurrencies you might have heard of.
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.
Our project is to become a new kind of democratically governed 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 and continue to innovate in this field.
6. What happens if we succeed and if we don’t?
If we succeed collecting the target sum, the coop’s board gathers the team to prepare the implementation plan and thereafter work accordingly on the finalization of the new platform.
This includes: Member registry, the creation of tokens representing shares to be distributed to all members according to ownership, a peer-to-peer shares trade section; registration and sign up of new members.
The board has called an extra general meeting to be held on the 15.3.2020 where the agenda is to approve the detailed action plan, detailed budget and coordination for the finalization of this software project.
After this, we can continue exploring collaborations, design new financial tools, concepts, and investment strategies to continue with the coop’s mission.
If the target amount is NOT reached, the proposal to the general meeting is to close down the coop.
More questions and answers in the forums:
https://discourse.robinhoodcoop.org/t/faq-on-refinancing/1342
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