Bitcoin Forum

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We will be posting our white paper, website and escrow details in the next few days. Stay tuned for updates! For now:

FAQ

Q: Why a mining operation?

A: Metallum looked at the other projects being developed in the space and wanted to stick to a tried and trusted business model within the crypto sector that can generate immediate revenues for the project and therefore be reinvested in the project immediately.

We have acquired a 0.5 MW facility with the lease commencing on May 1st 2017 and  the option of expanding with another 0.5 MegaWatt facility within the next 12 months.


Q: Why a ICO?

A: We look at large mining operations and they are all closed source for private investors. We felt that is was time that the community was able to build a large mining operation to compete with the private operations and for the community investors to reap the rewards.

By using the mining revenues in our hybrid Proof of Burn/Proof of Dividend model we hope to rewards investors directly in the form of revenues whilst also increasing the value of their tokens by decreasing the supply.

We have tried to reward investors directly from the mining operation and have incorporated a monthly raffle into a smart contract where a lucky ICO investor can win access to Metallums mining power in full for a 12 hour period.

This raffle will be running every month once the mining farm has been constructed and for the first month the lucky winner will win 24 hours mining access.

To reward larger investors, bonus tickets will be issued giving more chances to win every month.

Q: How will Metallum be issued?

A: Metallum is a ERC20 token issued on the ETH network. Tokens will be distributed to investors upon purchase and sent to your ETH address listed by you on the crowdsale site  

Q: Is there a minimum ETH amount required for the project to go ahead?

A: The minimum funding amount required for the project to launch is 15,000 ETH. We are asking for a maximum of 30,000 ETH which can best utilise the facility available whilst also expediting the growth of the communities mining operation.

Any unsold tokens will be burned and removed from the total supply

Q: Will there be escrow?

A: Yes. We want investors funds to be secured until the end of the crowdfund period, after which funds will be distributed in portion from the escrow to facilitate the construction of the mining operation. Escrow details are currently being arranged and will be in place by the start of the crowdsale on the 1st May 2017

Reserve

italian translation reserved

15K ETH seem an easy target for a good project. I haven't read the whole information in the OP but once we invest to this project, it means we are going to be earning from the mining facility you guys are going to be building right? Will read the whitepaper when you post it.
 Please post the features, total max supply?

Thank you, we will be posting our bounty details within the next few days ( I will allocate your name for Italian Translation)

Thank you for your interest and yes that is correct we will be paying investors from the mining revenues through our Proof of Burn/Proof of Dividends models. We feel that reducing the token supply over time will benefit investors as their token becomes more rare and also want to reward investors directly by paying them Special Dividends upon liquidation of mining positions.

As an added benefit, ICO investors have the chance to enter a monthly raffle to win the use of the entire mining operations hashing power for a 12 hour period to mine coins of their choice or receive the equivalent payout in BTC/ETH

In terms our specs:

2,350,000 Million Initial MTL token Supply
235,000 MTL tokens for Management Fee
15,000 MTL tokens for Marketing, Development and Bounties
2,100,000 MTL tokens available for Crowdfunding Sale
Price per MTL = 70 MTL / 1 ETH
Total Investment from Crowdfunding 30,000 ETH
Any unsold coins will be burned and a new total supply will be calculated

Some of our features include:

Proof of Burn Stage: We will initially use the mining revenues to reduce the token supply from 2,350,000 MTL to a capped supply of 1 million MTL

Proof of Dividend Stage: Once the token supply has been reduced to 1 million MTL we will then use mining revenues to pay Special Dividends to investors upon liquidation of mining positions. Metallum aims to liquidate positions when they are profitable rather to cover costs so we aim to reward investors with larger returns as a result.

Proof of Acquisition Stage: Over time we aim to develop a number of alternative revenue streams to increase the revenues generated to be paid as Special Dividends to investors. Our first step is to develop a Multipool and then in time develop a mining rental site for consumers to rent Metallums hardware through the site. As a reward to investors we aim to incorporate reduced fee structure for MTL investors who wish to use our rental site for renting hardware, meaning they could save up to 2% per rental from using a rival mining rental service

Raffle: Once the mining operation has been fully constructed, we will hold a monthly raffle from then onwards to reward ICO investors with the chance of using Metallums hashing power in full for a 12 hour period. Once the crowdfund period is over, we will collate all ICO investors details who qualify for the raffle and incorporate a smart contract to choose a random winner every month. There are no limits to the number of times an investor can win this raffle during the duration of the project

Thank you for your interest and we look forward to publishing our whitepaper with more info in a few days

nice graphics and design, also the project so interesting and from the dev last post any part for bounties, hope its also available for translation bounty,if its available can i reserve indonesian translation,dev?

Hello, the project looks so interesting.
Spanish translation reserved if you needed.

This project has very interesting plan OP is also looking cool. Interested to know about the team who are these and what plan they about escrow. I think they will get succeed to reach the minimum fund cap.

What is the difference of this Metallum to SONM - Supercomputer Organized by Network Mining (GRIB technology)?
 https://bitcointalk.org/index.php?topic=1845114.0

Seem like a battle for funds to both ICO. These two teams can be listed on directbet.eu  ;D

yeah, I see them setting their funding threshold to 50000 btc. This is a joke amount for a serious looking and masterfully presented project like this. I could make much better graphics within two hours lol. Cant add anything to this since I dont and cant support ico, with this in mind I silently vanish trying to hide my grimace of frustration and deep irritation.

nice announcement. i will be watching this project.

This sounds great I think this is realistic approach surely this project will attract the investors to make profit through this system. 15k ETH is not so big task so that I also quite sure this will be another successful ICO.

Reserving Hindi translation for the Indian local thread.

I would like to reserve Vietnamese translation for this interesting project. :)

Interesting Project. Worth Watching.

I can invest something during your ICO period.

You need Russian translation? I would like to reserve

Have potential. Good luck devs!

Portuguese translation reserved.

I have missed already two ICO based on similar idea which got funded in matter of hours. This one is going to repeat the history once again so that is the reason I am ready this time without looking anywhere else. This is going to show huge interest of public in the project.

@digital grow R u the dev ?

Also need info on team plz

reserved for indonesian translate ..thanks OP

A SUPER submission, Congratulations dev, just missing some information from the team, and maybe rewards campaign!

same question...

Mind posting the team behind this, names and backgrounds?

Is it possible providing details of where the mining facility is located along with support documents, pictures?

Are you going to be mining only bitcoin?

Calm down, preparations are underway. It's clear that more time is needed to make everything look decent, and to make it function. The guy is naturally submissive and chill, don't try to unleash a beast within him. He has more than two weeks to settle everything down and to set up nodes. It will take a lot of time, just wait until everything is ready.

Interestingly enough, what is needed for the master node? Where to read about the bounty?

indonesian translation reserved

thank you

Finnish translation reserved.

wow interesting. i interested. waiting for the crowdsale. want put some btc in there.
but i need more information like the team behind this project.
thanks

this is all good but my only issue with this is that you are going to use the funds and then develop over years!!! how are we to trust that you will do all that for 3-5 years!!!

French translate reserved here !

I think ICO funds should be locked and a certain released every quarter based on profits from mining. Lets say mining profits are below expectations, no additional funding is released till mining performance reaches performance goals. So expanding the mining operation would only occur when it's actually performing as it should.

Gonna look to further days

would like to see some info about the team

i dont understand the tickets, so its like a lottery ticket where i have the chance to win 12 h of ALL the mining power of the project?
will this tickets only be given during ico?

i think he is the dev,, but where is the others team,, ?

Interesting stuff
However, I would like to see (more) infos about team and future mining locations when you have time.
Thanking you in anticipation