Please rest assured that this transition keeps you and your needs in mind.
First, please know that XYO transitioning to a non-profit doesn't mean that XYO tokens can't be used profitably. They can and that is still very much the intention of XY Labs. XY is continuing development and iterations of XYO software, the XYO Network, benefits for XYO token holders, and improvements and updates to Geomining Kits (SentinelX and BridgeX).
The upcoming XY product line will continue to integrate XYO tokens as part of their central paradigms – including and especially the first planned new XY product, XYO World.
The XYO Foundation, itself, will have an educational mission, allowing XYO tech and members to foster new blockchain developers and open source tools.
When XYO was a division of XY Labs, we found the aggressive marketing model we were using unsustainable for the product we were creating. XY is a small company, but XYO is a big project and it has a mission it has to complete. It's a project that needs to be development-forward.
XYO has the potential to be fully realized with outreach, education, and open source projects.
So what, exactly, does that mean for you as a token holder or Geominer?
- Your tokens will continue to be used in XY - The Persistent Company projects and can still be used on XYO Network, one of the open source technological properties of the XYO Foundation.
- Your Geomining Kit equipment (BridgeX and SentinelX) can continue to be used for their intended XYO purposes and XY - The Persistent Company will continue with new development of the software and firmware for these devices. Additionally, both devices can be used with XY products to earn XYO tokens, notably the COIN app.
- By making XYO open-source, other companies will also be allowed to use XYO technology and incorporate XYO devices, SDKs, and tokens into their development free of charge and with education for their development teams.
- This step was necessary to sustain XYO long term. While it was not the original plan for XYO, if the goals we want to achieve are accomplished, it preserves the XYO project and allows it to grow as designed.
The best news is that, as of the writing of this article (late April, 2020), XY's measures to preserve and improve XYO token value appear to be showing results. In addition to the formation of the XYO Foundation, XY - The Persistent Company has also begun an open-market token buyback. (Note: We will not be accepting requests for buyback, all purchases are made on the open token market.) Click here to read the buyback announcement.
This isn't financial advice, you should always do your own due diligence.
Between mid-March and mid-April of 2020, Flipside Crypto, partners of Coin Market Cap, consistently listed XYO as the most undervalued token they evaluated. (This was not solicited or sponsored – XYO is not affiliated with Flipside Crypto or Coin Market Cap. It was brought to our attention by a member of the XYO community.) XYO was valued as being worth as much as 1.7 times its current market price by Flipside Crypto, and after more than a month, we're still on their list of undervalued tokens.
Per the February announcement of the token buyback, we agree.
"We feel at this time that the XYO Token is very undervalued, and thus have decided to start buying Tokens on the open market as supply for the COIN application and to hold." - Arie Trouw
We believe that XY has given XYO the best chance for success, and you as token holders and early adopters, the best value we can give you. XYO Foundation will work to meet its goals, and XY will continue to do everything we can to keep our promises.
Not every business or venture is successful, especially small businesses and startups. We are grateful to you for being part of XYO on the ground level and we will do everything we can to make XYO a successful project.
If you own shares (stock) in XY, please see this article for more information about how this change affects you.