Faircoin Price changes’s Docs 1st Economic Strategy Assemby

1st Economic Strategy Assemby

Date/Time: 11th May 2017, 19.00 MET
Place: FairCoop Assembly Telegram Group
Participants
Mario, Indalo, Chris, Thomas, Enric, PacoLoose, Michalis, Yusuf, Roland, Neil, Santi, Pedro, Ale, Edgar, Ferdinand

1. Increase in Faircoin Price:
– For the decision we should take in account the most recent events in market etc. Which other infos do we have?
– Next step would be the exchange rate 1:15 ( 1 FAIR = 0,0667 €) This price has been agreed
– Possible following steps for the future could be a rate of 1:12 and 1:10 , but this has to be elaborated when time has come

2. Stability of the price:
– having a consensus to keep the price stable, until the next assembly is happening
– If big buys are happening, we are observing the situation before making too fast decisions (e.g. call for the assembly one week in advance)

3. Getfaircoin sells:
– a general criteria of accepting at most 100 eur for person, since the moment that is call the assembly for discussing price, until the moment that change is done
– also limiting the sells in getfaircoin from the moment the price is significantly higher than the official price (10-20%)
Formulation that was agreed on: “The economy group can activate a limit when the price on Bittrex is higher than in getfaircoin and the limit goes away as soon as the assembly passed.”

4. Exchange for merchants
– With a price increase FairCoop is not changing 100% of the Faircoins in Euros anymore, but the same euros that the merchant was expecting.

5. Setting a frequently assemblies of the economic strategy group (For me this is not such assembly but an extraordinary assembly for price. if such group wants to do assemblies is a different thing.)
– Proposal for now is once amonth
– In urgent cases, call for an extra asembly through the group chat possible

Tags: assembly