Why do you need a token for this project?
The token will be basis to provide services on the application. We're still finalizing the details on exactly what features will fall under the subscription model, and will share more information in due time.
We will also be launching an online portal for any TKR token holders, they will be able to directly influence key decisions and vote on future additions/ideas for Trackr.
This to me is the only information that matters. You are asking for funding, but not giving information on how I will make a return on my investment. The app seems comprehensive, looks like it would be a good tool to use. What am I buying by investing in your ICO? Can you give an example of a chance to influence key decisions? Voting shares?
Will the tokens be bought back? What will the tokens be backed by? How?
We'll be updating our FAQ today/tomorrow with a more comprehensive answer to these questions as they've been asked a few times now throughout the thread.
The app will require tokens to drive its in-app 'economy' for its subscription model:
- Users pay a nominal monthly fee for the subscription of 'advanced features', these tokens are traded back on the exchange and dividends are issued on an interim basis on profits (meaning throughout the year). The subscription price varies by the token price against ETH, as the value rises you would need to pay less in 'TKR' which gives early investors a bonus, either through a longer subscription or through enjoying a higher trade price on exchanges.
- You're able to register on a portal that will launch post ICO as a token holder (regardless of the amount you hold), we'll be holding monthly meetings in which 'token holders' are invited to join and present their idea, disagree or agree with key decisions regarding our future or any other concern.
- There's a lot of room for in-app 'advertisement' (non-obtrusive and completely subtle) for users that use the free tier, an example would be a news tab on cryptocurrencies. A news could be 'promoted' (and marked as such) at the top, this would clearly be labelled as such. A subscription user may be able to enjoy lower subscription fees in return for having the promoted news displayed to them (or not if they don't wish to).
- Users are able to share their successful portfolio, meaning someone may be able to advertise their portfolio and their success. The user could then opt to 'share' their portfolio, which could be traded to other users where the requesting user pays x amounts of TKR for it. The exchange of tokens would be conducted by smart-contracts, a modest service fee (1-5%) could apply and the remainder is sent to the owner of the portfolio.
These are just some initial ideas, we're still drafting our subscription model on what exactly is possible but as you can see there's a lot of room for ROI (both in dividends and in actual token price). This is also an example of one of the the key decisions a majority token holder would be able to influence (through a majority vote of the token holders). All of this would be facilitated through smart-contracts and eventually drive higher price for all token holders and issue higher dividends as the money is directly poured back.
The exact requirement on how dividends will by drafted by legal beforehand once we're in that position. While I'd love to tell you the exact model, I'm unfortunately no lawyer and thus can not comment on the
exact specifics.
Below is where you mentioned this 50 ETH being small that which you meant is your minimum for your pre-ICO. Did I just read this correctly?
I read all the posts in this thread because I thought of joining the campaign but find it sketchy.
50 ETH was indeed our target, but not our minimum as we didn't have a minimum. What we meant was that the hard cap was limited to 50 ETH (rather than using a big number such as 1000), this would solely be used for marketing/advertisement as we've already invested a considerable amount of money in getting licences to publish our app (iOS/Android), investment for AWS to purchase upfront reserved instances among other things.
We also became aware of the recent 'hack' on Coindash, I'd just like to mention that we will publish our contract beforehand for anyone to audit and that we are looking into purchasing an ENS domain. Users do not have to be concerned with the security of our project, all of our infrastructure and technology is listed in our whitepaper along with any security or privacy concerns. Everything that we run on a website is just statically hosted on Amazon's S3 service (i.e. there's no server running on our side). There are no 'exploits' that users can use to gain unauthorized access as they'd still need a physical device that only we hold with us.
As always, please message us on
Slack as we'll be able to answer any query (dividends, subscription model, suspicion/doubt, proof of development, you name it).
