I have a couple of questions about this:
So you are saying that 1 ecobit is about 0.03 USD. And the total limit of supply is 8,888,888,888.
Does that mean that only the amount of ecobits will be issued that were actually bought by investors? And that there is a limit to how many can be issued?
OR... that 8,888,888,888 will definitely be issued, no matter what?
That's an important detail that determines your valuation.
Also, could you give some more detail about your business model, revenue streams etc?
Are you just marketing this ICO to the crypto community or are you marketing this ICO to the general public as well?
Your first funding goal says "Carbon Credit/Offset 5000 BTC". Could you explain what this is, how this will work exactly, and what that means for investors. Also could you explain why you need 5000 BTC for that?
I read in news articles that 55% of your carbon trading profits will go to the state government and 45% to your company (Climate Protectors). How much of that profit will be given to investors?
Could you also provide us with an in-depth explanation of your revenue sharing programme for investors? Not only for carbon trading, but future projects as well?
Long-ish reply post, please bear with me. Answers from the team enclosed:
(1) As with most IPOs, only 10% to 20% will be issued to the public. Total issued will still be 8,888,888,888 EcoBit, nothing more and nothing less.
The team will hold the balance of the EcoBit internally. Like other projects, they will practice a good "Code of Conduct" e.g. advance announcements if the team intends to use any significant % of the retained balance.
(2) There are few business model here.
Phase 1. Carbon credit / offset.
The project has been awarded 1 million acres of forested land for 30 years. This will create annual income for voluntary market carbon credit. The team expects about US$5 to $15 million annual revenue from it. This concession has an operating cost - The team has to manage and maintain the area.
(3) The ICO is marketed to both crypto and non-crypto community.
(4) It was quite a task to secure a written and signed concession agreement over the 1 million acres in forested land. In order to assign this project to EcoBit, the sum of 5,000 BTC is meant to fulfill the requirements of the concession obligation.
(5) Your question "I read in news articles that 55% of your carbon trading profits will go to the state government and 45% to your company (Climate Protectors). How much of that profit will be given to investors?"
That will depends on the % that EcoBit controls for the stake. A scenario is presented below.
Net is $10 mil p.a. after expenses.
55% goes to state $5.5 mil
45% goes to CP $4.5 mil
EcoBit owns 60% of CP.
Hence $4.5 x 60% = $2.7 mil goes to EcoBit to buy back annually.
(6) Projects under EcoBit:
Phase 1. See above revenue and profit annually.
Phase 2. Aquaponics and Spirulina. The weekly benefit will be given free to local people first and the extra will be sold. The nett profit will be then used to buy back EcoBit.
Thank you for your answer.
Ok so 8,888,888,888 will definitely be issued from which your company holds 80-90%.
Maybe you can help me to put this in terms the average crypto investor understands.
Does that mean your market capitalization will be based on how many ecobits were sold to investors? (like with Ripple)
Or will it be valued at $266,666,666? (If yes, could you explain why you value ecobits so high?)
After doing some extensive research your project definitely looks legit.
The fact that you have Lon Wong of the NEM foundation on your board also gives me a lot of confidence. That guy always delivers. He also confirmed in the NEM telegram channel that this is all legit.
But I can see how for crypto investors who don't know anything about you, this whole thing can look like a scam.
Maybe you could give some more details about yourself and your team so people know who they are dealing with.
