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Bastian

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Apr 25th, 2025
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  1. On Tuesday, 8 April 2025
  2. Hey,I wanted to reach out and ask how much you want per core? :)
  3. Thank you,
  4. Basti
  5.  
  6. ...
  7.  
  8. On Tuesday, 8 April 2025
  9. Hello Bastian,
  10.  
  11. The Core markets are currently experiencing significant undervaluation. To date, proper price discovery has not occurred, and there is a substantial oversupply of Cores.
  12.  
  13. Given this context, it is not possible to accurately determine a market price for Cores. However, it is understood that once a Core is acquired by a project, it can be assigned to a paraID and renewed without further competition, and at a heavily reduced price.
  14.  
  15. Therefore, our response is: What are you willing to offer per Core?
  16.  
  17. ...
  18.  
  19. On Tuesday, 8 April 2025
  20. Yeah, I agree with you that they are undervalued. Given that, I would right now propose to pay 10Ksm per core. Do you accept my offer? :)
  21. Best,
  22. Basti
  23.  
  24. ...
  25.  
  26. On Friday, 11 April 2025
  27. Still waiting for my core :D
  28.  
  29. ...
  30.  
  31. On Friday, 11 April 2025
  32. Hello Bastian,
  33. How many cores would you like to purchase?
  34.  
  35. ...
  36.  
  37. On Friday, 11 April 2025
  38. Two cores.
  39.  
  40. ...
  41.  
  42. On Friday, 11 April 2025
  43. Hello Bastian,
  44. Thank you for the offer. We believe 10 KSM is too little, considering the current mispricing of the market and the lack of a trustless secondary market. Please make an offer that seems reasonable, given the scope and impact of your projects, and we will be happy to engage in negotiation.
  45.  
  46. ...
  47.  
  48. On Monday, 21 April 2025
  49. Hey,
  50. It is me again. Can you please tell me at which price you would like to sell one core on Polkadot? No, I don't want to play a guessing game. So, please just say a price and I accept or provide a different offer.
  51. Best,
  52. Bastian
  53.  
  54. ...
  55.  
  56. On Monday, 21 April 2025
  57. Hello Bastian,
  58. We're evaluating the fair market value of Polkadot cores internally. Unlike Kusama cores, Polkadot cores have significantly lower supply and higher demand.
  59. Several factors impact pricing:
  60. - Existing projects need cores immediately
  61. - Current parachains are inquiring about purchases before elastic scaling launches
  62. - Market dynamics suggest a substantially higher valuation than Kusama cores
  63. While we cannot provide a specific price point yet, we're working to respond promptly to all interested parties while ensuring proper market valuation. Are you interested in acquiring a core for an existing parachain? Is there a timeline we should be aware of regarding your pricing needs?
  64.  
  65. ...
  66.  
  67. On Monday, 21 April 2025
  68. Yes I need one or two cores for existing parachains. I would pay 200 DOT per core. Is that okay?
  69.  
  70. ...
  71.  
  72. On Tuesday, 22 April 2025
  73. Any update on this? :)
  74.  
  75. ...
  76.  
  77. On Tuesday, 22 April 2025
  78. Hello Bastian,
  79. We understand that Mythos is among the parachains that do not currently have a core.
  80.  
  81. We believe that a price of 200 DOT per core is unreasonably low; it even falls below the estimated fair price for cores, which was discussed in the initial coretime pricing forum post.
  82.  
  83. We estimate Mythos's monthly volume to be approximately USD 40 million, generating roughly USD 1.96 million in revenue. We also understand that this should be handled with discretion, considering the circumstances.
  84.  
  85. Accordingly, we would like to propose a counteroffer of USD 150,000, payable in either DOT or ETH. We believe that the stated price above is significantly below what others in our situation would request.
  86.  
  87. We are aware that the Polkadot Technical Fellowship can grant a core to Mythos, however, we strongly believe that this will erode the nature of the core markets as it will set a precedent that every chain should be rescued.
  88.  
  89. ...
  90.  
  91. On Tuesday, 22 April 2025
  92. Hey,
  93. I thought you are reasonable people and are just really interested in driving up the price per core. Which is a reasonable and fair approach. But, you are just trying to scam.
  94. Sad to see this.
  95.  
  96. ...
  97.  
  98. On Tuesday, 22 April 2025
  99. Hello Bastian,
  100. This is a permissionless and free market, we are currently aware of the entire situation, and we fundamentally do not believe that this offer was too high; if anything, we believe that it is completely reasonable given the circumstances.
  101.  
  102. We could also have written a similar response regarding the offer of 200 DOT, which is far below the value of this core.
  103.  
  104. Given the fact that it is a free market, you are, of course, able to try and find other accommodations to solve this issue, but we believe that this is a completely fair offer. We believe that the path forward that we suggested is the most discrete way of handling this issue. We are aware that the Polkadot Technical Fellowship could grant a core to Mythos, which is a much less discrete way of handling this issue.Feel free to come back to us if you change your mind.
  105.  
  106. ...
  107.  
  108. On Thursday, 24 April 2025
  109. So, as you started selling cores on Kusama for 50KSM. What is your stance on Polkadot? I would increase my offer to 3k DOT per Core on Polkadot. What do you say?
  110.  
  111. ...
  112.  
  113. On Thursday, 24 April 2025
  114. Hello Bastian,
  115. Thank you for getting back to us and for recognizing that this is a negotiation.
  116.  
  117. Your offer is very close to what we consider the fair market rate for Polkadot cores in this sale period, given the current rent control price of these cores and the imminent release of elastic scaling.
  118.  
  119. We would like to propose a counteroffer of 5,000 DOT per core. You are, of course, able to propose a further counteroffer of 3,500 DOT and we may accept it.
  120.  
  121. We look forward to hearing back from you soon.
  122.  
  123. ...
  124.  
  125. On Thursday, 24 April 2025
  126. 3500DOT?
  127.  
  128. ...
  129.  
  130. On Thursday, 24 April 2025
  131. Hello Bastian,
  132. We accept your offer of 3,500 DOT per Polkadot core.
  133.  
  134. Please send the DOT to this address: 16SxtuS6XmYN4Pk8j2i5KoTFeDzBrB2RGwjJBaCHv7yfQf21
  135.  
  136. Could you also confirm that you would like to purchase 2 cores that should be assigned to:
  137. Mythos (3369)
  138. Xcavate (3413)
  139.  
  140. ...
  141.  
  142. On Thursday, 24 April 2025
  143. Okay thank you.
  144.  
  145. You can not tell me that 150k was a reasonable counter offer. Especially if your target was 3500. You wasted so much time from me and others in the ecosystem. As I said before, I was agreeing with you that this is an issue. Was agreeing that this needs to be fixed and I'm happy that you brought it up in this way.
  146.  
  147. All this said. I would like to reduce the costs for the ecosystem and especially myself. Also given that there is a proposal up which would void any value of the cores. I'm offering 500 DOT per core.
  148.  
  149. Next time please directly come up with some reasonable counter offer and I'm open to negotiate.
  150.  
  151. Best,
  152. Bastian
  153.  
  154. ...
  155.  
  156. On Thursday, 24 April 2025
  157. Hello Bastian,
  158. Unfortunately, we would have to reject your offer of 500 DOT per Polkadot core.
  159. Please feel free to contact us again if you wish to proceed with the previously agreed upon price of 3,500 DOT per Polkadot core.
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