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New budget proposal split over three months came out here : https://www.dashcentral.org/p/Bitcart-and-Festy-Development-Roadmap

This means i voted no on this one-month proposal here and voted yes on the 3 month budget proposal.

Sounds like a working business asking for a lot of money doing what they should be doing anyway. A lot of money. Voting no.

My original concerns still stand, the report from Joel seems plausible and would certainly explain why bitcart haven't been able to perform to the networks expectations so far. Having said that I will continue to abstain on the vote pending clarification on Dash Core's position. It's only fair that we hear both perspectives on this (and preferably a resolution and joint statement from both parties?) before voting on direct funding...

Core could send funds very quickly if the issue is resolved between them successfully. We don't want to end up paying opera twice!

Walter

I agree. Too much is going on, and not enough information. We need to get a fuller accounting from Core and BitCart, definitely a joint statement is in order. Also, this proposal has problems anyway (need to split it over three months, maybe split out Festy). Unfortunately, this means that BitCart/Festy should look to the next cycle for funding via a better crafted proposal, and with more information about promises made by Core to BitCart.
I suggest we calm down and not rush this. Too many questions. Who knows? If Core promised funding to BitCart, maybe they can release some of it until the funding process can be taken over by the Treasury process.

Please see our new proposal and thank you for your support!

https://www.dashcentral.org/p/Bitcart-and-Festy-Development-Roadmap

IMPORTANT UPDATE!

Below is a report on the BitCart/Festy situation which answers many of the questions masternode owners have asked here. I would urge you all to read through this before making your final voting choices.
https://www.dashforcenews.com/investigation-bitcarts-challenges-origins/

Joel - no offence
but somebody could have at least contacted Core for a comment or clarification before publishing ! nobody did ! did bitcart contact us about this ? Never (and we met them some weeks ago in londo and core team members were in ireland at their office multiple times ) . there are some serious allegations against Core in that article and i believe this should be clarified 1st by all parties involved before throwing this into the “voting race” (or being used as a lobbying tool)

i did not make the deal with Bitcart , but believe there are some serious misunderstandings and misconceptions going on . i pinged the team already onto this and believe they will check on with bitcart and post their clarificarion on the issues posted .

as always , Dash budget system is supposed to be a “startup help” , but definately has no responsibility (or would never make deals like that) reg scaling of such 3rd party companies !
(we help them to get started - then it is on them to make their Biz Model work).
Daniel would have never made such promises as published in that story - and even if - why were we never contacted about this ?

sorry but something is wrong in this whole story/ issue and i will get on the bottom of this , but to use this now in an open proposal as leverage is definately WRONG !

Now that I know a little more of the backstory, I'm prepared to vote yes. Thank you, Joel. ;)

So what happens now? Do we wait for the new proposal to show up or just vote on this one? Why is the new proposal not showing up?

IMO we should vote no on any BitCart funding until Core can weigh-in on these allegations. The fact that they still remain silent is troubling. What is it? Release a statement already. Voting no until then, and maybe no after depending on what is said.

I'm voting yes for now and if the other proposal shows up I will act accordingly.

The Dash Ninja proposal page is screwed too currently so maybe the sentinel issue is affecting things as well. Dunno, but for now my votes are yes.

Seems like the 3 month proposal is finally up.

If events occurred as the_desert_lynx describes, then essentially all of the customer service problems that happened to BitCart after the enormous increase in sales, were caused largely or entirely because of a sudden personnel shake up on the Core Team. I have no reason to doubt Joel, and a good many reasons to trust Joel.

And while sudden personnel changes on the Core Team are not necessarily anybody's fault, it showed enormous restraint on the part of Graham De Barra to refrain from throwing the Core Team under the bus for failure to deliver on the automated software help to speed things up by an order of magnitude.

The Dash community can't fix every problem in the world, but I bet we can fix this. In the perfect scenario, Rango gets the new proposal up that splits the payments over 3 budget cycles. Then there's plenty of money left to get this done without bumping any of the smaller projects.

In the worst case scenario, Rango can't get the new proposal up for some reason, and we are left with the single large payment of the original proposal for BitCart.

So be it. Masternodes kindly get your ass over here and change your vote to yes. And if some of the smaller deserving projects get defunded, I will bend over backwards to fund them in the next cycle, plus 10 Dash for their trouble.

Just to be clear, I trust you a lot Joel. If the new update turns out to be substantially incorrect, this is going to be an awkward and perhaps expensive exercise. But if you are essentially correct, I congratulate you on doing the right thing despite the fact that it does carry significant risk for you. And may I add that in either case, you have some big brass ones.

solarguy

I think its better to ask core to do the same thing they did with with alt36 (relese the funds when enough yes vote) for the next cycle. Times running late and theres a lot of proposals that would be bumped. Core have a resonsability in this and maybe they gonna have a different solution to bring to the table. We dont want to rush without taking time to digest what appened

I would welcome a fuller explanation from the Core Team, and if they had a nifty workaround that got BitCart back in the game without bumping some of the smaller proposals, that would be lovely. But we have 3 days...In the meantime, if everybody changes their vote to yes, we can easily throw all that support at a new proposal if needed.

Due to the article @the_desert_lynx wrote and posted, and without any blame to anyone, I am voting yes on this proposal so as to get this ball back in the court and the game going again. Bitcart is Dash's #1 reason for being at this time. We need them.

Changed my votes from No to YES after reading : https://www.dashforcenews.com/investigation-bitcarts-challenges-origins/

Way too much crammed into one proposal.. Some of it I'm sure the Dash network would see value in funding, but collectively it's all way too much & way too soon...

I've not even seen enough data to demonstrate to me that either Bitcart or Festy have a viable and sustainable business model yet... The apparent urgent rush for this funding only adds to my concerns and sets my spidey senses tingling.

What does Opera Incubator's current balance sheet look like? Whats the current cash burn rate? What is the breakeven point for bitcart in terms of sales? These are just a few of many questions I'd like to see answers to before even considering partial funding for one or more of the elements discussed.. For all we know we could just be throwing good money after bad here?

It also feels increasingly like Opera Incubator would like us to shoulder the vast majority of the financial risk associated with funding their start ups to profitability (assuming the models work!). This in itself is not a problem if done correctly, and can be demonstrated to provide a significant amount of value to the Dash network. However, the way this proposal is structured feels like a big cash grab designed to provide urgent seed funding to get these businesses off the ground ( or if I was being cynical - keep the plates spinning to an extent?)...

I'm sorry if this comes across negative but the proposal in its current form/structure just doesn't feel right, if this was a pitch for funding to angel investors or Venture capital it would get ripped apart in it's current form. I'm sorry to say that but it's true, and for that reason its a no from me.

Walter

UPDATE : Despite what I've said earlier, pls can you explain Graham's answer to the question at 12.20 of this video.

https://www.youtube.com/watch?v=pVDjoMxtaHc

Graham says that Festy is not exclusive to Dash and that only bitcart is exclusive to Dash. He also talks about an interoperable blockchain for festy to accept all coins! Is this what Dash will be funding with this proposal? Please clarify.

I have voted yes because I believe Graham and his vision are worth backing, and I want to show support. I will also vote yes if/when the proposal is resubmitted and spread over 3 months. This would be preferable of course.

On the subject of BitCart, in your proposal you talk about the deal with Bithumb leading to an "exponential increase in Dash adoption and traffic on the Bitcart website". This worries me somewhat because it would appear that you are already having to ration the sale of Amazon cards on the site due to lack of supply. How will you handle an exponential growth?

I am rather troubled by the sustainability of BitCart. If you do not make enough profit from $100,000 sales per month to provide a decent customer service and pay for development would it not be better to offer a lower discount, maybe 10%? That way you would get $5k per month more income. In this proposal you are asking us to pay €20k to finally get BitCart working properly, but by reducing the discount you could self-fund that in 3-4 month in a sustainable manner. Personally the difference between 15% and 10% discount would not make any difference in my decision whether to buy from BitCart.

I agree, and the market has expanded in general about 5x this year. Bitcart should of seen significant growth if it is worth keeping alive. It would appear that the energy should be spent elsewhere and at best that project should be kept alive only if its making money. I don't see anyone going out of their way to really improve the product, probably because it is not exciting to anyone in your team at this point because the growth factor is not there. A low margin business like bitcart should be targeting at least a million a month to even have the resources to continue improving it.

I can’t support this proposal in good conscience until the BitCart experience is up to Dash’s standards, self-funded, not with budget funds. Fix your house, and then move on with your requests. Just my two duffs.

I agree. Bitcard needs to slow down, and get their tech working. I feel there needs to be a re-alignment of thinking toward running a customer-facing business. What I mean is, run it like any other business start-up. Trade equity for investment, trade equity for work. Drop all this talk about altruistic motives. Do it for *real*, and stop trying to short-cut the process. Voting no on this proposal. I would support a more modest proposal submitted next cycle that focuses not on "going global" but on just getting your current service working right.

And the sad thing is that I want Bitcart to succeed, but I'm feeling a bit abused at the moment

Good point.

While I have no problem voting for giving them additional funding for the reasons I listed in my other comments, maybe the resubmission should be some months down the line after they have shown clear improvements in the quality of service at Bitcart as well as conveyed a clear roadmap designed towards making Festy widely available.

Hi JGCMiner,

Thank you for your support and endorsement of our company's efforts to maximize Dash adoption .

The roadmaps linked above in the proposal for Bitcart and Festy should thoroughly answer your query as to how we will make Festy widely available and how Bitcart will be improved.

We need to upgrade our team to move forward in an efficient and pragmatic manner by completing our deadlines and associated tasks one by one.

Best Regards,
Darren Dineen
COO of Opera Incubator

Hi TaoOfSatoshi,

Thank you for your assessment of our proposal.

The reasons for the inconsistent and problematic service over the past 6 months have been addressed and dissected multiple times before (see https://medium.com/@operaincubator/bitcart-community-update-16fa3908e756 for example). With the current proposal, we are openly stating in no uncertain terms what we need to be able to resolve these issues for good. If the required funding is secured then we estimate that a fully functional mostly self-autonomous version of Bitcart will be released in under 3 months.

Dash had initially signed off on a monthly development budget for Bitcart some months ago as a commitment to a strategic business partnership for both parties. Due to unforeseen circumstances and a legal discrepancy in the contract, this agreement needs to be redrawn. The team at Bitcart have been finding it extremely difficult to resolve the issues with our system given our limited human resources and budget.

We ask you to kindly reconsider your vote and use the new amended proposal to help us realise what Bitcart and Festy can be when we can afford to pay a full-time development team. You won't be disappointed.

Best Regards,
Darren Dineen
COO of Opera Incubator

I like what operaincubator is doing with Dash in the form of Bitcart and Festy. I also think Graham is a great ambassador... but this proposal really should have been split over at least 3 months as it will have a very hard time fitting into this month's budget given the other legitimate projects it would boot. Maybe there is some other factor that prevents this from being multi-month, but the promised period of work is 3-6 months so a split seems reasonable...

So while it would burn 5 Dash I would consider resubmitting this considering the availabile budget this month.

Other than that - great proposal.

Seconded. I don't know why you would submit a proposal this late in the cycle.

Hi JGCMiner & ctafti,

We have resubmitted this proposal as requested by members of the community. The proposed payment is now split into 3 installments instead of the one-off payment. It should be going live shortly, we have contacted support as we actioned the amended proposal approx 7 hours ago and suspect it has been blocked by a security measure that protects against spam (the title of the new proposal is the same as this one).

We hope that you will consider changing your vote as progressing to the next stage of our development necessitates the recruitment of a full-time development team. We are confident that the return on investment into Festy and Bitcart will be glaringly apparent in the next 3 months.

Best Regards,
Darren Dineen
COO of Opera Incubator

For what it is worth, I have a lot of faith in both Festy and Bitcart. I personally have never had a problem with bitcart and Festy is making some very exciting news. I am all for funding your proposal, I just don't understand why you would wait until 6 days before the voting deadline to submit it.

I really like the concept of Festy and I can see the potential, but I need some clarification on how this will work from the point of view of the festival-goer. When will he/she get the wristband or card? On arrival at the festival or by post in advance? If the former then the customer will also need to load it at the event. If I understand your budget correctly you have allocated one ATM per event. The first event on the list is Boomtown, Winchester with 60,000 attendees. It seems to me that a single ATM would be ludicrously inadequate for the number of people. Maybe I have misunderstood something. Please clarify, and also explain how you plan to mitigate this bottleneck.

bad timing tbh - big proposals like this 5 days before vote is over is really not recommended

Hi tungfa,

We have resubmitted this proposal as requested by members of the community. The proposed payment is now split into 3 installments instead of the one-off payment.

We hope that you will consider changing your vote as progressing to the next stage of our development necessitates the recruitment of a full-time development team.

If you have any specific questions about the body of the proposal we are here to answer you as best we can.

Best Regards,
Darren Dineen
COO of Opera Incubator

Very exciting, all of this. You know I'm one of the bigger fans of your work, so I'll skip that part and go straight to the hard questions:

BITCART
1) Why is Dash "double-funding" BitCart? The Dash community pays BitCart as customers, and yet also is being asked to pay more to get the service to run smoothly. Other companies simply use profits to improve their business to take on more customers and improve their experience. Why is BitCart different?
2) What's the ETA for a smoother, better BitCart experience? Over the six months since the Dash integration was started, service has been consistently inconsistent. This proposal makes it seem like the missing link is extra development funding. If so, how long will it take BitCart to turn around once funding is secured?
3) With the amount of funding taken from the masternode network, it's safe to say that BitCart is no longer a purely private company, but rather partially a Dash-run service. If this is the case, and BitCart is no longer merely accountable to the customers it chooses to retain but also to the entire Dash network, what guarantees does said network have of BitCart properly representing the Dash experience?

Hi the_desert_lynx ,

We really appreciate your questions and as always thank you for your continued support for us.

Allow me to answer your questions one by one in the interest of clarity and the absence of ambiguity:

1) The presumption here is that the Dash community is 'funding' Bitcart by using its service and that the assumed profits from this business are not being reinvested into improving the service and expanding the business. This is incorrect for two reasons:

The first is that although Bitcart's trading volume may seem high, this figure is turnover and not profit. Honestly, Bitcart doesn't make much profit as its function is an altruistic one motivated by the need for increasing crypto awareness and adoption. Giving a 15% discount on all Amazon goods creates a situation where the mass population are heavily incentivised to use cryptocurrency, and in this case exclusively Dash. This is a worthy pursuit as a socio-political project to strengthen the paradigm shift of the masses from fiat to crypto but is a difficult model to generate enough revenue for expansion and improvements of the service while also paying its staff the small wage they receive. The Dash community receives a considerable return on their investment by receiving a 115% return every time you use Bitcart.

Secondly, any funding from Dash or small profit that Bitcart has secured is immediately reinvested into updating the website, fixing bugs, hiring personnel, marketing, advertising and business development. The team at Bitcart have been very active and transparent in this regard by maintaining a strong online presence and documenting our progression.

2) The reasons for the inconsistent and problematic service over the past 6 months have been addressed and dissected multiple times before (see https://medium.com/@operaincubator/bitcart-community-update-16fa3908e756 for example). With the current proposal, we are openly stating in no uncertain terms what we need to be able to resolve these issues for good. If the required funding is secured then we estimate that a fully functional mostly self-autonomous version of Bitcart will be released in under 3 months.

3) Yes we fully acknowledge the essential role Dash has played in Bitcart reaching this point and had established an exclusivity agreement with the Dash Core Team approximately 6 months ago. Unfortunately, due to unforseen circumstances the agreement was rendered null and void due to a legal discrepancy. Since there was a budget allocated towards our development team that was affected by this, we have been struggling to sustain ourselves and systemic errors began to manifest as a result. We are 100% willing to renegotiate an exclusivity contract with Dash and reposition ourselves as official brand ambassadors. We hope that the announcement of this would provide a satisfactory guarantee to the Dash network that Bitcart are fully committed to representing Dash in the best way we can. It is largely because of this commitment to Dash that we are making this proposal in the first place as we can only fully represent the Dash experience if and only if we have the resources to do so.

I sincerely hope this has answered your questions and if anything else comes to mind please do not hesitate to ask.

We have resubmitted this proposal as requested by members of the community. The proposed payment is now split into 3 installments instead of the one-off payment.

We hope that you will consider changing your vote as progressing to the next stage of our development necessitates the recruitment of a full-time development team.

Best Regards,
Darren Dineen
COO of Opera Incubator

Festy Headlines Irish Pub Global
https://www.youtube.com/watch?v=myHfY_1OGlA

Irish Pubs Global Awards
https://www.youtube.com/watch?v=QaVHuyIHD3c

The Festy Experience at Irish Pubs Global Awards 2017
https://medium.com/@operaincubator/the-festy-experience-at-irish-pubs-global-awards-2017-3697c3e0f41f

St. Patrick’s Day Market Research
https://abc7ny.com/society/serious-green-spent-to-celebrate-st-paddys-day/1805506/

Festy Introduce Dash Network to 7,000 Irish Pubs
https://www.dashforcenews.com/festy-introduce-dash-network-7000-irish-pubs/

Great questions.

I like the concept of Festy but I don't think Festy and Bitcart should be lumped together.
For the Bitcart side I think we need to slow down. I'd like to see Bitcart fix the customer experience issues on their own before throwing more money at it.

No no no no no. Way too much money and doubtful return for the Dash network.

INVESTIGATION PENDING

There's some additional details on this proposal that I'm trying to get worked through. Once finished I will publish my findings here.

Ya'all owe me $1200 in gift codes.
No response in over a week.
Multiple emails to bitcart@operaincubator.com
If you cant serve the hand that feeds you, don't be surprised if you starve.

Hi djcrypt0,

As you may have noticed, your order has not yet been confirmed.

We have previously addressed the fact that we have had systemic errors due to being unable to finance development and repair costs in a timely fashion. We are being honest, responsive and transparent to our partners and would appreciate constructive criticism rather than slamming remarks.

You should have now been refunded in full.

Best Regards,
Darren Dineen
COO of Opera Incubator

Well Darren, how about my order placed on October14th? Shows as order confirmed on your status page. 11 days later - no code and no acknowledgment. Email sent to bitcart@operaincubator.com on Monday - no answer yet. This is the eighth order I have placed at BitCart and also the eighth order I have had to chase through support. In the interest of being "responsive and transparent" how about an email? It would be nice to get the code quickly but I am happy to wait if you are out of stock. What just isn't acceptable is the silence. I send money and I should get at least an acknowledgment and an apology if you can't deliver right away. The tragedy is that I REALLY want BitCart and Festy to succeed. After listening to Graham on the 3 Amigos two weeks ago I was all set to sing BitCart's praises on Slack when my last order was delivered, but the code never came and now I am back to complaining. Again :(

FESTY
1) When will public-release wristbands, cards, and bracelets be available?
2) Even more starkly than with BitCart, this seems to be a service that owes its very existence to funding from the Dash network. What does Dash receive in compensation for this dedicated support? Is there an exclusivity clause for Dash either permanently or for a predetermined period of time? A fee reduction?

Hi again,

I will answer your questions in the same logical format as before:

1) The official public BETA product launch will be at the end of Q4 2018. Please refer to the proposal for more information and follow the link to the roadmap.

2) Dash were instrumental in enabling Festy to avail of a massive business opportunity in the form of the IPG headline sponsorship and subsequent official partnership. We are supremely grateful to Dash for this and are working tirelessly to bring Festy to market in order to enact a positive effect on the value & utility of Dash. However, its very existence was conceived more than 18 months ago by founder Graham de Barra prior to any involvement from Dash. Apart from the budget that Festy received for the IPG Awards, we haven't accepted any other investment from Dash, or any other entity for that matter.

In addition, Festy welcome a proposition from Dash to establish an exclusivity agreement for an agreed term. We have not yet been approached with such an offer but would gladly consider it.

Best Regards,
Darren Dineen
COO of Opera Incubator

Just as a concluding note,

Opera Incubator has had two proposals passed and in neither one did we ask for reimbursement for the 5 Dash we spent to submit them. This is because we want to show the community that even though we do not generate a lot of revenue, we justify this as a financial commitment to Dash - it is a small investment we make to support the governance model that attracted us to Dash in the first place.

***AMENDMENT***

1) The official public BETA product launch will be at the end of Q4 2017. Please refer to the proposal for more information and follow the link to the roadmap.

After merchant digital growth and core team compensation proposals I thought it was obvious that there is no room for those two to fit for this month, and yet here is another big proposal which will compete with those two.

I would expect that after seeing that, new big proposals would be splited into more 3-6 months period.

This way i have a feeling that this proposal may not pass and even with that, this is business and while there is a need to support its development, i find it hard to believe that it should be fully funded by Dash.

I don't think every business is created equal in this respect. Young, start-up businesses like Alt36 or Bitcart/Festy that are Dash exclusive I have no problems voting for. After all, if they get off the ground and succeed it will be a tremendous boon to Dash. Well established companies that work with a lot of different coins, like Coinfirm for example, I am much less enthusiastic about.

It is all about what is most likely to increase the value of Dash... and the success of young Dash exclusive companies should do just that.

Hi nebojsa,

Before submitting this proposal the team were heavily debating whether the proposed payment would be a one-off payment or split into 3 installments. We chose the one-off payment because we have set up meetings and interviews with the most talented blockchain developers in the space that we have formed excellent relationships with over the past 12-24 months at conferences such as Consensus in New York and Blockchain:Money in London and have kept in touch regularly. We want to be able to justifiably make offers that will maximize the probability of these individuals joining our team enabling us to complete our roadmap.

Regarding your second point, there are a few important points to note:

Firstly, Opera Incubator is a strategic business partner of Dash that was initially approached by the Dash Core Team to integrate whose team members are paid exclusively in Dash and whose businesses accept payment exclusively in Dash. Ultimately, this makes Opera Incubator the first Sub-DAO of Dash.

Secondly, we may have misinterpreted Evan Duffield's description of the Dash Treasury's function but according to him Dash needs to support Sub-DAOs as their success is integral in increasing the adoption of Dash and the market value that is directly proportional to it.

Finally, if cryptocurrencies like Dash are to truly replace the banking system that they threaten to collapse then they will need to perform the function of financing business. What is the point of accumulating billions of dollars of value if a portion of that capital is not allocated to reinvestment into businesses that support the movement? Ultimately, we are all working towards the same goal to create a new world and need to be supporting each other.

We have resubmitted this proposal as requested by members of the community. The proposed payment is now split into 3 installments instead of the one-off payment.

We hope that you will consider changing your vote as progressing to the next stage of our development necessitates the recruitment of a full-time development team.

Best Regards,
Darren Dineen
COO of Opera Incubator

Festy Headlines Irish Pub Global
https://www.youtube.com/watch?v=myHfY_1OGlA

Irish Pubs Global Awards
https://www.youtube.com/watch?v=QaVHuyIHD3c

The Festy Experience at Irish Pubs Global Awards 2017
https://medium.com/@operaincubator/the-festy-experience-at-irish-pubs-global-awards-2017-3697c3e0f41f

St. Patrick’s Day Market Research
https://abc7ny.com/society/serious-green-spent-to-celebrate-st-paddys-day/1805506/

Festy Introduce Dash Network to 7,000 Irish Pubs
https://www.dashforcenews.com/festy-introduce-dash-network-7000-irish-pubs/

We submitted and paid the 5 Dash for a new proposal, to break the proposal into 3 months following some comments by the community. However the new proposal has not appeared and it has been 258 confirmations and some 12 hours. Does anyone know why this might be?

Try to get in contact with the site owner Rango. You should be able to reach him here or on the Dash forums. I am sure he will get you straightened out.

it is very expensive

Hi tuapoma,

We have resubmitted this proposal as requested by members of the community. The proposed payment is now split into 3 installments instead of the one-off payment.

We have analysed and compared our proposal to past proposals that have been approved. The budget we are requesting is a fraction of what other businesses have acquired for doing what we feel is a fraction of what we can deliver and have delivered. We have real minimum viable products/prototypes, successful proof of concepts, massive business expansion potential and huge demand for our services from real clients - not just a lofty promise and no follow through.

We hope that you will consider changing your vote as progressing to the next stage of our development necessitates the recruitment of a full-time development team.

If you have any specific questions about the body of the proposal we are here to answer you as best we can.

Best Regards,
Darren Dineen
COO of Opera Incubator

"Due to requests by the community, we have decided to resubmit this proposal to divide payments over 3 months. You can find it on Dash Central shortly."

Can you please change the title of this budget proposal to reflect this or adjust it to something like "please downvote, new budget proposal will be made".

This is a business, why would Dash fund a business. You should be making enough money to fund yourself am I right? Especially with a product that no one else in the world has to offer.(no real competition in this space) No need to force the adoption on this small nitch market.

Also I have yet to see a detailed demo on how fetsy actually works, if you could lead me to this demo I'd appreciate it.

Hi Mizzymax,

Thank you for your comment.

Festy launched as a company less than 3 months ago so we are still in the pre-trading R&D phase. For any business to be financially self-sufficient and not require external funding it needs to be trading and making profit. We have a long way to go in developing Festy & Bitcart before we reach that point.

There are obstacles that a young start-up company in crypto faces that you may have not considered. These problems are unprecedented in business. For example, traditional business raise start-up capital by getting loans from banks or by acquiring Series A funding from VC firms and other similar entities in exchange for equity.

For a crypto-start up like Opera Incubator, receiving financing from a banking institution is impossible as the very nature of the business is directed towards the disruption of that very industry. It is similarly difficult to convince conventional VC firms of the potential of a start-up like ours given the low adoption rates in everyday businesses. Furthermore, even if you can persuade traditional investors to fund your company then you may risk losing creative control as VC's often demand a significant shareholding position.

The Dash Treasury has created a unique opportunity for young tech companies like ours to acquire the funding we need to create technologies that enable the Dash currency to be used in real day to day business and generate real value; not speculative value. After all, if the mass population don't use a given currency in their day to day lives then its failure is immanent and any value that has been attributed to it is essentially worthless.

We have been working on an extremely tight budget thus far and have been fully transparent about how we've used the previous funding acquired from past proposals. We even brought Dash Force News to Dublin during the IPG Awards because we felt it is imperative for recipients of funding to provide evidence that they have fulfilled their goals. To the best of our knowledge, this is the approach taken by other successful proposal owners.

We have resubmitted this proposal as requested by members of the community. The proposed payment is now split into 3 installments instead of the one-off payment.

We hope that you will consider changing your vote as progressing to the next stage of our development necessitates the recruitment of a full-time development team.

Best Regards,
Darren Dineen
COO of Opera Incubator

Festy Headlines Irish Pub Global
https://www.youtube.com/watch?v=myHfY_1OGlA

Irish Pubs Global Awards
https://www.youtube.com/watch?v=QaVHuyIHD3c

The Festy Experience at Irish Pubs Global Awards 2017
https://medium.com/@operaincubator/the-festy-experience-at-irish-pubs-global-awards-2017-3697c3e0f41f

St. Patrick’s Day Market Research
https://abc7ny.com/society/serious-green-spent-to-celebrate-st-paddys-day/1805506/

Festy Introduce Dash Network to 7,000 Irish Pubs
https://www.dashforcenews.com/festy-introduce-dash-network-7000-irish-pubs/

Here is a link to the Festy Whitepaper:

https://docs.google.com/document/d/1NT0fYBOgd9qOMItoEpEN1S721QJNRZcpfBAy6RJ1YQM/edit