[ANN][TAEL (WaBi)] - Supply chain, loyalty points, real world adoption

[crypto_bit]

This is correct.

Thank you very much for confirmation.

[George_Token_Jr]

Hey guys, I’m doing some math here and it doesn’t add up. Could you clarify something for me?

The whitepaper says:

a) Up to 10.000.000 will be sold at the preICO at 0.03 USD/coin price. Funds will be used to launch the ICO. Up to an additional 1.000.000 coins will be distributed through the bounty program.
b) Up to 40.000.000 will be distributed at the ICO stage in November 2017. 80% sold to ICO contributors, 20% distributed among the team and bounties. Funds will be used to grow sales in baby stores, add more product categories (such as alcohol) and set up the WaBi Project blockchain based, remotely hosted loyalty system.
c) The remaining coins (49.000.000 if all 10.000.000 are sold at the preICO, 1.000.000 are distributed as bounties at the preICO round and 40.000.000 are sold during ICO stage) will be reserved to be delivered to consumers through the mining process. Consumers will receive coins by purchasing Walimai protected products and participating in other activities. These 49.000.000 will be held in an escrow. A merchant (seller of products protected by Walimai technology) will be entitled to release WaBi coins equivalent of 5% worth of quarterly increase in sales of his products, from the escrow into circulation by distributing these coins among the customers in the form of rewards and discounts. These coins can not be sold by merchants at an exchange.

a)   3.700.000 tokens were sold, 6.300.000 remaining
b)   80% out of 40.000.000 is 32.000.000 – crowdsale, 8.000.000 distribution among team members and partners.
c)   Remaining coins – 49.000.000 (+6.300.000 not sold during the pre-sale).

So, if I understand correctly, max of 32 mln coins can be sold during the crowdsale.
 
In their last Telegram post Wabi guys say:

Tokens price:
We sell WaBi tokens at 0.25 USD per token (the higher end of the range we announced previously). This will give us around 11.5m USD raised (after accounting for ~50% preWaBi buyback).

11.500.000/0.25= 46.000.000
At least 46m tokens must be sold during the crowdsale if you don’t account for the buyback.
How do you come up with this number of tokens? If you include 6.3m unsold pre-ico tokens and 8m that are meant for the team and the partners, then it’s 46m indeed. But does this really correspond with what’s laid out in the whitepaper? In my understanding “up to” means “no more than”.
Could the team elaborate on this, please?

[ngin-x]

Guys, as someone who has participated in many ICOs since 2016 and know how the market works, I caution you against investing in this ICO because:

1) Lately each and every single ICO that gave presale investors anything over 10-20% discount has dumped below ICO price. There are no exceptions. Even wildly popular ICOs like AirSwap and Request Network are now below ICO price because of this. Less popular ICOs are almost 50-70% below ICO price now. Wabi gave presale investors almost 850% discount (3 cents pre-sale vs 25 cents ICO). I leave it to you to guess what will happen when this token hits the exchanges.

2) This is not a very popular ICO. There is almost no hype around this project, so you will have a really difficult time finding buyers for this token and also 99% chance this won't be listed on any major exchange.

3) Don't be fooled by pre-sale investors claiming they believe in this project and will buy more at the ICO. This is a common con used by people to lure unsuspecting buyers into buying a token at hyper-inflated prices because they need buyers to dump on afterall.

4) The Walimai app this company is building the project around hardly has any reviews or ratings or downloads on the Google Play Store. So it's not a proven business as they claim to be.

Only invest in this ICO if:

1) They agree to lock up all pre-sale investor tokens for 3-6 months without exceptions.

or

2) They agree to reduce the ICO price to 3 cents which should make it a level playing field for everyone.

Lastly, I would like to end by saying that it is upto each and every one of us to demand higher standards from ICOs. If we continue to support ICOs that screw ICO investors by giving presale investors discounts, we will continue to take losses and investing itself will become non-viable. My advice is to wait for the token on the exchanges. You will most certainly be able to purchase it at 5-10 cents as opposed to 25 cents.

[Moebius327]

If we sell our  BonusPreWabi back at the ICO price, will you return our Ether back to the same address from where we participated or we will be given the choice of getting our Ether back at a different Wallet?

[crypto_bit]

Only invest in this ICO if:
1) They agree to lock up all pre-sale investor tokens for 3-6 months without exceptions.

I agree, it is important and yes - WaBi will lock presale investor tokens. So you are totally right that ICO is worthy of consideration
 

[Bitcoin2theEnd]

Good to see the WABI team is listening to the community and are going to lock in pre ico tokens. Should give everyone more confidence

[Bitcoin2theEnd]

Just dl the Wabi app. I am unable to access it because i live in Australia. Does anyone know if there is a way around this problem. Just want to check out the app

[John Cryp]

Good to see the WABI team is listening to the community and are going to lock in pre ico tokens. Should give everyone more confidence

Team is doing really great and I have a lot of confidence in them. Taking the nesseccary time to make the right decisions all the time. Can't wait till this token launches on the exchanges.

Any plans on launching on specific exchanges? Negotiations already going on?

[daniweb]

If we sell our BonusPreWabi back at the ICO price, will you return our Ether back to the same address from where we participated or we will be given the choice of getting our Ether back at a different Wallet?

[hardhouseinc]

Wabi itself seems to be very promising but there is a large market of cryptocurrencies, so what is the benefit for holding this coin?

[The Crypto Peasant]

Very Very promising project. will be investing heavily.

actually suprised i havnt come by it earlier here on bitcoin talk. i belive it has bein rated by Ian Balina at around 80% on his ICO spread sheet

Good luck

[josegr4ham]

When is the main ico starting? Any exchanges planned already? Whats the USP of wabi comparing with ven and wtc?

[StinchcombNancy]

Any type of ICO is still open to buy Wabi or it has to be from the exchange only now?

[WaBiWalt]

Any type of ICO is still open to buy Wabi or it has to be from the exchange only now?

ICO starts the 28th of November. KYC & Whitelist opens tomorrow, 28th of October!

When is the main ico starting? Any exchanges planned already? Whats the USP of wabi comparing with ven and wtc?

Team is doing really great and I have a lot of confidence in them. Taking the nesseccary time to make the right decisions all the time. Can't wait till this token launches on the exchanges.

Any plans on launching on specific exchanges? Negotiations already going on?

We're currently still considering exchanges. You can hear the co-founder talk on the subject here: https://youtu.be/5HZbLtcxMMY

Very Very promising project. will be investing heavily.

actually suprised i havnt come by it earlier here on bitcoin talk. i belive it has bein rated by Ian Balina at around 80% on his ICO spread sheet

Good luck

Thank you very much for your support!

Wabi itself seems to be very promising but there is a large market of cryptocurrencies, so what is the benefit for holding this coin?

You can find more information on the utility of the token on our Youtube channel: https://youtu.be/oy5geN7pRQk

If we sell our BonusPreWabi back at the ICO price, will you return our Ether back to the same address from where we participated or we will be given the choice of getting our Ether back at a different Wallet?

Specifics will be announced soon!

[WaBiWalt]

WaBi ICO starts 28th of November at www.wacoin.io | Whitelist + individual caps.
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1) ICO details:

28 of October: KYC registration starts at www.wacoin.io.
Participants who pass KYC will be added to the Whitelist．
21st of November - Whitelist closed．

USD 0.25 per token．
46,000,000 tokens for sale.
USD 11,500,000 hard cap．
Total supply: 100,000,000 tokens．

An individual cap will be applied on the first day of the ICO.
It will be doubled on day 2 and doubled again on day 3.
If not all WaBis are sold by then, we will remove the caps from day 4 onwards.

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2) KYC: starts on 28th of October at www.wacoin.io

To participate in our token sale, you will need to pass KYC. We will require:
- Full name
- Citizenship(s)
- Photo/scan of your government-issued ID which states citizenship. Passports will be accepted. Decisions on all other documents will be made on a case-by-case basis and will result in delay
- Selfie of you holding the submitted ID document
- Email
- Mobile phone number
- ETH address to which we can send the WaBi tokens (you need to have control of this address, e.g. it can not be an exchange address)．

Participation restrictions:　

Unfortunately we will need to restrict certain groups of people:
- Nationals of the People’s Republic of China
- US persons (US citizens, US residents, green card holders), if they don’t have an accredited investor status. You will need to prove your accredited investor status through a 3rd party vendor that we are working with
- Persons under 18 years of age
We don't like to restrict people from participating in our sale but we also need to comply with relevant regulations and protect the project from any legal risks.

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3) PreICO tokens buyback: We will announce exact details of the process for both options a) and b) soon.

There’s been a lot of fear of tokens being 'dumped' by the preICO contributors. We are making an offer to all preICO participants that will completely eliminate the problem.

In essence the offer to preWaBi holders is:
EITHER
a) To lock tokens for 3-6 months and get 5-10% bonus (coming out of the founders’ personal allocation)
OR
b) Sell preWaBi back to WaBi Project at 8.5USD/preWaBi or 0.25USD/WaBi (reflecting the 1:34 preWaBi to WaBi ratio).

This way, whatever 'dumping' might occur will be absorbed by the project and not the ICO contributors at the exchange.

All tokens bought back by WaBi project will be held as a reserve for at least 6 months.

[matthewtherry]

What differentiate Wabi from normal consumer protection blockchain? Let say if unilever adopt Wabi methodology, what is Wabi goons do?

[WaBiWalt]

The WaBi KYC & Whitelist is now open at account.wacoin.io

We'll be making a new Bitcointalk thread soon!

To participate in our token sale, you will need to pass the KYC. We will require:
- Full name
- Citizenship(s)
- Photo/scan of your government-issued ID WHICH STATES YOUR CITIZENSHIP. Passports will be accepted. Decisions on all other documents will be made on a case-by-case basis and will result in delay
- Selfie of you holding the submitted ID document
- Email
- Mobile phone number
- ETH address to which we can send the WaBi tokens (you need to have control of this address, e.g. it can not be an exchange address)．

Participation restrictions:

Unfortunately we will need to restrict certain groups of people:
- Nationals of the People’s Republic of China
- US persons (US citizens, US residents, green card holders), if they don’t have an accredited investor status. You will need to prove your accredited investor status through a 3rd party vendor that we are working with
- Persons under 18 years of age
We don't like to restrict people from participating in our sale but we also need to comply with relevant regulations and protect the project from any legal risks.

[clif_high]

Thank you for updates, I really like the anti-dump mechanism. KYC may be cumbersome but it's also an indicator of well performing ICO

[McToth]

Have a problem with a field before the phone number


Registration fails without filing this field, but can't put anything

[crumparm]

Just checked their thread at bitcointalk, very good description of bounty terms and conditions for participants! Like it. If the whole project is managed like this, consider, can trust their team.