The other digital asset announced today: Libra Investment Token

Everyone is talking about Facebook's Libra today, but those who look closely at the what Facebook announced know that there is a second coin that will be part of Facebook's new crypto ecosystem. The Libra Investment Token is a more exclusive offering that will only be sold to Facebook's partners, allowing them, and only them, to receive dividends from the reserve that backs the Libra, as Be In Crypto is currently reporting.
The other digital asset announced today: Libra Investment Token
It is a bit harder to find information about the Libra Investment Token than it is the Libra, but dig into the new whitepaper and you can find it. Specifically you will need to go to the sub-pages about The Libra Association and The Libra Reserve.
To be clear, the Libra Association is the governing body over the Libra ecosystem, and the Reserve is the collection of assets that back the currency. It seems selling the Libra Investment Token to members of the Association is the primary means of generating the capital for the Reserve. Any organizations who wish to become voting members of the Association, or even run their own node, simply must purchase at least $10 million in Libra Investment Tokens:
"To be such a node, an entity needs to make an investment of at least $10 million in the network through purchasing Libra Investment Tokens.
Each $10 million investment entitles one vote in the council, subject to a cap."
In addition to giving the member a vote, it also "grants rights to a share of the future interest accumulated in the Libra Reserve." To this end, the whitepaper later explains how this works:
"The reserve will be invested in low-risk assets that will yield interest over time. The revenue from this interest will first go to support the operating expenses of the association — to fund investments in the growth and development of the ecosystem, grants to nonprofit and multilateral organizations, engineering research, etc. Once that is covered, part of the remaining returns will go to pay dividends to early investors in the Libra Investment Token for their initial contributions."
So to be clear, Facebook is actually launching two coins: One for the general population to use, and one for the rich investors who can afford to buy into governance roles and is the only one that pays dividends.
As this is more understood, will users really feel they are getting a fair deal? Is this a disaster in the making or the beginning of a true "Corporate Coin?"
The other digital asset announced today: Libra Investment Token The other digital asset announced today: Libra Investment Token Reviewed by Chaudhry on June 19, 2019 Rating: 5