Do ARK's Financials Concern You?

ALT COINS
#1

ARK only raised $1M in their ICO and their market cap is currently valued at $365M.


All of the videos I’ve watched have hyped ARK as a sandbox for everyone playing in the cryptocurrency world of projects. This ambition takes a lot of capital to accomplish. I’ve also heard this is not a “money-motivated-team”. But, if not already, many of these leaders will be poaching targets for many new and better funded blockchain projects. It’s still a very competitive world in blockchain and cryptocurrency.
(https://www.youtube.com/watch?time_continue=1&v=CgD4WqHJFtU)

So before I choose ARK for a long term crypto investment hold (2 - 5 years) I need your help in understanding:

How is ARK funding this project with only $1M raised?

Is their CFO, Lars Rensing up to the task of leading this startup with ARK being his first rodeo as top dog?
https://www.linkedin.com/in/lars-rensing-3b12bb26/)

I’ve heard responses of “That’s Private”, but does anyone know anything about the burn rate of this project for cash? Are we just ignoring this?

Thoughts at this time?

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#2

One_Conscious_Being, I love that you asked these sceptical questions, I really wish I knew something about this. Hopefully someone else will know.

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#3

Hopefully someone in Crypto Pub (CP) will come forward with some concrete info, because I’m getting nothing from videos thus far. Send the post out to your outside CP community. Who knows what will happen. Much gratitude!

#4

Thank you for bringing this up. I’m not part of ARK Team but I really like their project and it is one of my favorite for the long term. Talking to them on Slack I could find some info about their fundings.
Jarunik (which is the delegate I voted for) told me that “CFO Lars invested 1 million wisely and collected a nice fund with all the gains. The burnrate was mostly lower than the price increase of the tokens the crew is holding.”

If you take a look at their wallet, you can see that they have around $70million dollars in ARK: https://explorer.arkcoin.net/address/AN7BURQn5oqBRBADeWhmmUMJGQTy5Seey3

According to these messages from June they also have a $7 million dollars LISK wallet + $1.8million in BTC + 700k in fiat in case Cypto falls down hard.

ark funding
ark funding1279×401 94.9 KB

It seems to me that money is not a problem for this project.
To be honest, I wish I had more fiat to invest on them :joy:

#5

Thanks for your investigative work! Questions:

Lars says the company turned $1,000,000 from the ICO last November into $700,000 of fiat. Is this all the fiat they have until the next funding?

Is it correct that this 21M ARK is from their initial token sale to be used for team development?

What is the exact date of the new funding. Can you provide a link or source for this event and how much they plan t raise and what they are giving in exchange for this funding.

Much gratitude!

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#6

In my understanding, the 1 million from ICO was invested. As jarunik told me “Lars invested 1 million wisely and collected a nice fund with all the gains”. The $700k in fiat is an extra reserve in case the Crypto Market crashes.

I believe they have enough funds for the next 3 years.
You can follow ARK’s development here: https://ark.io/roadmap/
You can join their Slack channel here: https://arkecosystem.slack.com

#7

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