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 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
