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November 30, 2017, 01:35:41 AM |
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Founder Kumar Gaurav, previous stated that it is impossible to dump the coins, because the coins are locked for a period for 4 years:
Company tokens, tokens assigned to team and advisors as well as for the community and entrepreneur initiatives are released over a 4 years vesting period with a 12 months cliff.
Meanwhile on the salespage this is the distribution plan shows that in Total 110 Million (50M for team + 60m for Partners ) is immediate available for them. Also the locked up period is 3 years (36 months).
Currently at the time of writing around 150m of the 510m tokens are sold. Originally, the unsold token will be burned. The team is aware of that they can’t reach the hardcap of $32m USD (510m tokens), so they came up with the idea to distribute the remaining tokens among the investors instead of burning the tokens. So the ratio between the 110m tokens and 620m (110m + 510m) will be more acceptable. If they can only sell 250m tokens, which is very likely going to happen, they will own 30% of all the circulating supply. In fact this percentage is higher, due the fact that all bonusses will not be distributed until 5 march 2018.
Beside that several users in the Telegram channel asked for clarification, the admins were ignoring these questions and kicked out the ones who were raising critical questions.
Some of the supporters form this ICO claimed that those 110m are meant for marketing and further expanding, this is really strange. So why is the ICOheld for? The idea that there is no clarification about the 110m and the possibility that these token can be dumped at any time is a big red flag.
CAS Allocated : 240 Million
Purpose :
Held in reserve by Cashaa in order to fund future transactions and expand liquidity, partnerships required for future growth and expansion. This fund will be locked by Smart Contract and governed by the CAS community based on the requirements.
Availability :
•60 Million Immediate
•60 Million locked by smart contract for 12 months
•60 Million locked by smart contract for 24 months
•60 Million locked by smart contract for 36 months
CAS Allocated : 200 Million
Purpose : Founders and Advisors reward for the development of the Cashaa network and their continued long term alignment of the project.
Availability :
•50 Million Immediate
•50 Million locked by smart contract for 12 months
•50 Million locked by smart contract for 24 months
•50 Million locked by smart contract for 36 months
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