Originally, we were going to have 150 billion tokens in the ICO, so that individual users of the apps earned a lot of tokens for aesthetic purposes. We got enormous pushback from ICO token purchasers and token exchanges who said 150 billion tokens was too many (read https://medium.com/@AirFox/airtoken-whitepaper-updates-and-token-supply-change-f00e403011f1). So we reduced total supply to 1.5 billion.

Users of our application probably won't know they are using cryptocurrency. They see AIR as "points", just some sort of custom currency they can redeem for data. As such, the amount of AIR displayed in the app is 100x the true value, and the prices of data are also 100x.

For example, if 100 MB of data costs 100 AIR, and you had 100 AIR, in the mobile app itself you would have 10,000 AIR, and 100 MB of data would cost 10,000 AIR.

It's kind of confusing, and we didn't want it this way, but for the token exchanges we had to reduce the token supply.

In the app, you can buy 3355 for $1 USD, but that's actually 33.55 AIR for $1 USD because of the 100x change. The reason you get only 33.55 AIR instead of 50 AIR is that we must pay fiat exchange fees. At $10 USD, we eat the fees because the size of the transaction is large enough to justify it.

I hope this makes sense, let me know if something is unclear.

We raised money from VC's last year and then chose to do an ICO this year rather than raise another VC round. We are free to raise equity investment whenever we choose, the ICO is unrelated. At our current burn, we are break even, so we wouldn't even need to raise any money except to expand our product and grow the team, which is what the ICO is for. Thanks for spreading baseless rumors though

Hi everyone, we have website and whitepaper translation already done for Korean and Vietnamese. Please do not do that one, they are officially done. Thanks!

Micro-loan Technical Whitepaper released: http://www.airtoken.com/paper/MicroLoan_whitepaper_v1.pdf

It is a deep-dive for technical investors who want more insight into how the AirToken microfinance system works.

AirToken on NPR radio: https://www.dropbox.com/s/k358sogilwaq58v/Airfox_NPR_2017-08-17_16.25.23.mp3?dl=0

AirToken Whitepaper Dutch Translation http://www.airtoken.com/paper/AirFoxICO_WhitePaper_Dutch.pdf

AirToken ICO – Freemium Data Plans and Micro-Loans for the Developing World

https://smarticoinvestor.com/airtoken-ico/

Press:

Ex-Googlers Using Ethereum to Increase Mobile Internet Affordability and Digitize Credit Scoring with AirFox

http://www.trustnodes.com/2017/08/09/ex-googlers-using-ethereum-increase-mobile-internet-affordability-digitize-credit-scoring-airfox

I recommend reading the white paper, but the utility functions of the AirToken are redeeming it for mobile data, digital services, physical goods, and provide loans (earning interest) to qualified users. If you are a user of our Android apps, you can earn AirTokens for using opting into ads, completing offers, and using our web browser. Companies can also purchase accurate information directly from users, such as their location and internet data, which is normally very difficult to get in these emerging markets. Providing accurate marketing data for users that are not part of any formal system is quite valuable.

The goal of the AirToken is to allow users to monetize their cell phone, unlocking capital in developing markets. We have successfully accomplished this for low-income users in the USA, and are now expanding globally via the AirToken and the Ethereum blockchain.

Forbes: Tech Money: Betting On Immigrant Grit

https://www.forbes.com/sites/karstenstrauss/2017/08/10/tech-money-betting-on-immigrant-grit/#3a3010532bff

Semyon Dukach (https://en.wikipedia.org/wiki/Semyon_Dukach) is an investor and advisor for AirFox

I won't say negative things about DENT, they have an interesting project, but if you read our white paper you will understand that we are fundamentally very different from DENT. DENT plans to integrate with carriers directly to let people exchange unused data for DENT tokens, so they can buy / sell data at lower prices agnostically between carriers. The DENT strategy requires telecom integration into the Ethereum blockchain and telecom buy-in for the DENT token. By pressuring a carrier to support DENT at the risk of losing customers, the hope is that DENT can force the carrier into supporting their technology. This is an adversarial model with the telecom industry. AirFox has an entirely different mission, project, business model, and strategy.

At AirFox, we have worked directly with numerous carriers, understand their technical limitations, and have already built a successful US-focused telecom business. Our technology provides mobile subscribers free data in exchange for opting into ads and completing offers. We have directly integrated with carriers, which is a difficult and long process.

The AirToken strategy is using and extending our software, which we have proven is effective for over 2 million unique users, and expanding globally. We already have connections with over 500 global carriers as part of a data transfer network that we can leverage without needing any carrier buy-in to the Ethereum blockchain or the AirToken.

The AirToken project is about releasing so-called "dead" capital in emerging markets and rewarding users who have very limited access to capital. Users can opt-in to ads, complete offers, and browse the internet using our AirFox Browser app to earn AirTokens. Our software collects personal information allowed by the user (nothing is shared without approval), which includes location data, internet use, their home address, etc. which is extremely difficult to get accurately in these countries. We allow companies to purchase this data directly from users, rewarding them in AirTokens, and also use this information to qualify them for micro-loans, which can be funded in a decentralized platform by any holders of AirTokens to earn interest. With our Android apps, AirFox will be able to give "credit scores" to users based on their risk.

Eventually, the goal is to allow the AirToken platform to exist entirely on the blockchain without AirFox supporting it, giving rise to a truly decentralized market, allowing the AirToken to stay valuable in perpetuity.

Press: This Techstars Boston alum is planning to raise $15M — all through cryptocurrency

https://www.bizjournals.com/boston/news/2017/08/08/this-techstars-boston-alum-is-planning-to-raise.html

Hi JohnnyUA, we now have Russian (and Chinese) translations at http://www.airtoken.com/

A Dutch one will be coming soon, and perhaps other translations also.

Russian and Chinese translations are out, please check http://www.airtoken.com/ white paper section. This topic will soon be closed for a proper ANN with images. Lots of pre-sale activity going on.

Thanks to RJX, we now have a Dutch forum here: https://bitcointalk.org/index.php?topic=2075369.0

And soon a Dutch translation.

We are limiting the pre-ICO AirToken sale to venture capitalists, if in the USA accredited investors willing to provide KYC information (KYC only needed if in USA), unique people in the industry, and people willing to purchase a significant number of AirTokens. They will get their ETH wallet address hard-coded into the contract, which is being finalized and audited by New Alchemy. Please PM me or email james@airfox.io if you are interested in the pre-sale. Pre-sale gets the 30% bonus, yes.

Press: This Techstars Boston alum is planning to raise $15M — all through cryptocurrency

https://www.bizjournals.com/boston/news/2017/08/08/this-techstars-boston-alum-is-planning-to-raise.html

Users can only purchase AirTokens during the ICO in ETH. I'm not 100% sure your question, but users of the apps will get rewarded in AirTokens out of AirFox's (our company's) token reserve. If you read the white paper, you will understand the flow, but users are free to transfer earned AirTokens to an ETH wallet, or transfer from an ETH wallet into their AirFox account. AirFox will purchase AirTokens from the free market to replenish their reserve and reward users with AirTokens.

The high number of AirTokens, 150 billion, is 100x more than the Basic Attention Token, which had 1.5 billion. From a longterm view of the success of the app and the platform, having more AirTokens is beneficial. The listed price of an individual AirToken will be affected, but from an token purchaser's perspective, they just get more AirTokens for the same amount of ETH. The market cap remains unchanged whether there is 1, 1million, 1billion, or 1trillion AirTokens. It is a psychological benefit for the users of the platform.

The price of an individual token will be low but the market cap will be unaffected. Just moving a decimal place over. But yes, for rankings website that list by token value rather than market cap, it would be affected.

We are going to have established people take over the bitcointalk and re-post it, but for now this one will serve the purpose.

The reason to have 150billion is to allow significant sized rewards of AirTokens for using our app, even for receiving a single ad impression. I recommend you try our demo apps which are already in the Google Play store to get a feel for how this works. With 150billion AirTokens, you get whole-number amounts of AirTokens for every impression received, which will psychologically is better for the user.

More news in top-tier publications and information will be on-going.