[ANN][ICO]COSS Token Swap ICO is LIVE

[Isaaq.Almaguer]

now that's more like it! I'm on board!

[coss-rune]

Thanks for the feedback.
We are also fully aware that we have not been active enough in this channel.
Covering Facebook, LinkedIn, Twitter, Slack etc makes us spread out. But we will pay more attention to bitcointalk from now on. Great and valuable feedback. Thanks.

[ColorlessK]

Don't forget that you can also join the Slack where you can find most of the Coss Team for any questions you might have:

Day 2 of COSS Token Swap. Today you are entitled to 15% bonus for participation. The bonus will be diminishing soon, so hurry up. The swap rate is 1 ETH = 600 COSS.

To send funds from your wallet on COSS.IO follow these steps:
1) Go to https://www.coss.io ;
2) Click 'Contribute now';
3) Login to your dashboard;
4) Enter the amount of ETH to contribute;
5) Click 'SWAP';
6) Accept terms and conditions;
7) Send ETH to the displayed DEPOSIT address;
If you already deposited ETH to COSS, use the address in step 4 and ask for a withdrawal from your coss wallet.

We also have a suggestion from the slack: Ït's a good idea to install Metamask in your Chrome browser. It comes with an Ethereum Phishing Detector that prevents you from accessing scam websites. Like copies of MyEtherWallet or COSS.


Here is a quick video about the second day bonus and how to contribute: https://www.youtube.com/watch?v=BcvEMRTJ86c&feature=youtu.be


And a statement from Rune Evensen, the CEO of COSS about the unsold Tokens:

"COSS TOKEN HOLDERS WILL DECIDE WHAT WILL HAPPEN TO THE UNSOLD TOKENS

Dear all,
We have received some feedback regarding the unsold tokens. The original plan was to set it aside, to lock it, and to give the proceeds from revenue share to charity. However, IF too many tokens are unsold at the end of the Token Swap, a big percentage of the revenue-share will go to charity, and not to the investors. After some internal discussions, we have come up with a proposal that will put that decision in YOUR hands (the "investors"). After the token sale is over, we will evaluate the amount of the unsold tokens, set up a voting mechanism for the token holders so that you can vote on how much should be set aside for charity and how much would be burned.  Do have in mind that the result of the token sale only defines the speed and the scale of the platform and of course the time, it will not define the existence of COSS. We have an operational platform, and we will continue to build it regardless. What do you all think?
Please comment in #general  thread in our Slack chat: https://join.slack.com/t/cosstokenswap/shared_invite/MjI0MTIyMzEzOTA4LTE1MDIyNDcwOTAtZDhjZmRjZGI2Zg

Best regards,
Rune Evensen"

The Team is very responsive to feedback and suggestions so perhaps if you guys have any questions or any more feedback you can leave it here, also don't forget to join our Bounty Campaign if you want to support the project

[Scheede]

lol, they're asking for about 100,000,000 USD, and they won't even burn the remaining tokens. I was excited about this, but seriously, this is asking way too much. Should've had a much lower cap.

I don't know where you got that number, but that's not true.

The Token Sale includes 130M Coss at a rate of 1 ETH=600 COSS, so that would mean a total cap of 216k eth, at current rate that's 67M, the rate was decided when ETH was 200$ so that is why dollar value has increased so much.

As to the unsold tokens, this is what happens to them:

All the remaining tokens that haven’t been sold after the ICO, will be paced into a vetted/audited Smart Contract serving as the COSS Charity Foundation. COSS currently partners with the biggest Charity Foundation in Romania named “Mereu Aproape” managed by one of the biggest Media Trusts in the country and supports a Malaysian entrepreneur David Wu collecting money to help the children with cancer. The “Mereu Aproape” Foundation and David have registered their accounts on COSS in order to collect charity donations in cryptocurrencies supported on the platform.
In the nearest future COSS will contribute to more charities by dropping its unsold Tokens left after the Token Swap. The unsold COSS Tokens will be placed into a Smart Contract Pool, accumulating revenues in various crypto as per the FAIR SHARE program. Every 6 months this wallet will release all the gains to help a specific charity case (or foundation) that will be announced publicly. All the funds will be transparent due to their placement on the Ethereum blockchain, and will be donated to a charity vetted by the Board of Directors of COSS.
The Smart Contract Codes and the Audit will be released after the Token Swap.

Your token sale isn't going well, 67 Million USD is a lot of money to ask. assume you collect only 20 Million USD (so far you collected less than 1 million), which is still a whole lot of money. It means that charity will get twice as much money from the dividends as all your ICO contributors combined. That's very generous of you, but that's not exactly good news for investors. You should put a cap on how much the will be given to charity, like 1 million COSS maximum. And then burn all other unsold tokens. Only then would it make sense to invest in your company. You have a good thing going on there, make it attractive for people to invest

You guys are absolutely right when we look at the numbers that way. We have done some internal discussions and came up with the following proposal: After the token sale is over we will create a voting mechanism, so the investors can vote how much of the unsold should be set aside for charity and how much should be burned.

Regardless of how many tokens we raise in the token sale, the platform is and will remain operational. Please note that we already have a working business, that is generating revenue. The scope of the token sale is to grow the platform to manage all the unapproached areas of cryptocurrencies adoption. The result of the token sale will only define the speed and the scale of the platform, not the existence.

Close to "perfect" and good to see how flexible/fast in making decisions you are (if it was not prepared already).

Thanks and I´m in.

[Scheede]

"Update: CURRENT STATE

CONTRIBUTED 2,986.948 ETH (746,736.902 USD)
507 participants / 493 members in slack-channel

Actually we still are in the stage with 15% bonus."

edit: quoted numbers from the COSS-website by the time of publishing

[coss-rune]

https://www.youtube.com/watch?v=3HxWbK3t684

[coss-rune]

For those of you that want to read about the start-up community here in Singapore. Hock Lai the President of Singapore Fintech Association has interviewed 52 companies and issued this e-book. A long but good read for a rainy day. A small hint :slightly_smiling_face:  We like to start reading around page 218
52 Stories of FinTech Entrepreneurs
https://leanpub.com/SG52


Also feel free to join our slack for more engagement with the team and the community.
https://join.slack.com/t/cosstokenswap/shared_invite/MjI0MTIyMzEzOTA4LTE1MDIyNDcwOTAtZDhjZmRjZGI2Zg

[Isaaq.Almaguer]

How many tokens were successfully sold during the Fire-swap?

[ColorlessK]

How many tokens were successfully sold during the Fire-swap?

The Token Distribution looks something like this

Maximum Supply – 200,000,000 COSS Tokens (200 mil)

25,000,000 COSS Tokens – Fire Swap (pre-ICO) (25% Bonus – 50 ETH minimum buy-in)
130,000,000 COSS Tokens – COSS Token Swap (ICO) (minimum amount is 0.001 ETH)
30,000,000 COSS Tokens – Developers, Staff, Strategic Partners**, Operations
10,000,000 COSS Tokens – CAP (COSS Affiliate Program)
5,000,000 COSS Token – Shareholders***/Board of Directors***/Advisory Board***

[TOYJJWGS]

The total amount raised is too high, did not find special, I do not know how much money to do so for the team, the development does not seem so much cost

[coss-rune]

The total amount raised is too high, did not find special, I do not know how much money to do so for the team, the development does not seem so much cost

Hi. Yes the cap is high. But to be honest, i dont think we will get close to the cap.
The amount raised will define the speed and scale of the project over the next 3-5 years.

And as stated above, the contributors will be able to decide what will happen with unsold tokens.

The result so far:

CONTRIBUTED
3,019.603 ETH  754,900.865 USD
PARTICIPANTS
 562 participants

[ColorlessK]

The total amount raised is too high, did not find special, I do not know how much money to do so for the team, the development does not seem so much cost

The asked amount was decided when ETH was 200$, which is why now the Hard-Cap seems so high, because it is 50% higher than initially planned, but the market cannot be controlled.

The COSS Team already has a functional product, compared to other ICO's wich raised dozens or hundreds of millions of dollars, and the money raised during the ICO will be used to add several other useful features to COSS, such as:

- Digital Signing of Documents & Certificates via Attores
- Enhanced AML functions via CoinFirm
- P2P remittance via Satoshi Citadel Industries(SCI)
- Issuance of COSS Prepaid Cards
- CAPSmart Contracts as a Service (SCaaS)
- Launch of the COSS Affiliate Program (CAP).)
- B2B remittance via CoinPip

Also all ETH from the Main Token Swap (ICO) that begins on August 8th , 2017 will go into a Multi-Sig Wallet with 3 Signatories. The Release Procedure from the Escrowed ETH Wallet will take place annually based on the approved budgeting presented by the COSS Management:

34% - 2018 Budget
33% - 2019 Budget
33% - 2020 Budget

COSS already has merchants and users using the services and the exchange, the raised money can be used to expand further, both in terms of product and market reach.

[laviehn]

Hi, may I send dirrectly ETH from the exchange (Polo, Bittrex ...) to the address which received ETH in COSS ?

[coss-rune]

Hi, may I send dirrectly ETH from the exchange (Polo, Bittrex ...) to the address which received ETH in COSS ?

Yes you can.

On your coss dashboard, enter the amount of ETH you want to contribute, click SWAP, accept terms and conditions and a unique deposit address will be generated for you.
Use that address when you send from other exchanges/wallets.

[Isaaq.Almaguer]

How many tokens were successfully sold during the Fire-swap?

The Token Distribution looks something like this

Maximum Supply – 200,000,000 COSS Tokens (200 mil)

25,000,000 COSS Tokens – Fire Swap (pre-ICO) (25% Bonus – 50 ETH minimum buy-in)
130,000,000 COSS Tokens – COSS Token Swap (ICO) (minimum amount is 0.001 ETH)
30,000,000 COSS Tokens – Developers, Staff, Strategic Partners**, Operations
10,000,000 COSS Tokens – CAP (COSS Affiliate Program)
5,000,000 COSS Token – Shareholders***/Board of Directors***/Advisory Board***

so the fire swap was fully subscribed?

[coss-rune]

How many tokens were successfully sold during the Fire-swap?

The Token Distribution looks something like this

Maximum Supply – 200,000,000 COSS Tokens (200 mil)

25,000,000 COSS Tokens – Fire Swap (pre-ICO) (25% Bonus – 50 ETH minimum buy-in)
130,000,000 COSS Tokens – COSS Token Swap (ICO) (minimum amount is 0.001 ETH)
30,000,000 COSS Tokens – Developers, Staff, Strategic Partners**, Operations
10,000,000 COSS Tokens – CAP (COSS Affiliate Program)
5,000,000 COSS Token – Shareholders***/Board of Directors***/Advisory Board***

so the fire swap was fully subscribed?

No. We only did a short pre-sale of around 1500 ETH

[ColorlessK]

Hey everyone, this is a reminder to all that have chosen to contribute through the withdrawal option on coss.io
We still have pending withdrawals. That normally means that you have not clicked the verification link in the withdrawal email sent to you from coss

[coss-rune]

COSS MOUs/ROADMAP to be implemented after the token sale.

Here are some of the many agreements made to increase the use-cases on the coss.io platform. Many more in the pipeline.

TaaS – the first tokenized closed-end fund aiming to reduce the risks and technical barriers of investing in the blockchain space. With its profit-sharing smart contract, TaaS has introduced a new business model allowing investors to benefit from the fund’s income stream.

CoinPip – a Singapore-based company that reinvents the way money transfers between businesses are made. CoinPip helps businesses to send money abroad in under 48-hour time avoiding bank or forex charges. On COSS CoinPip is soon to cater B2B remittance.

Attores – a platform that offers Smart Contracts as a Services making it easy for customers to write, submit and execute Smart Contracts on the blockchain. On COSS, Attores will soon implement digital signing of documents and certificates.

Satoshi Citadel Industries (SCI) – a financial technology company building the blockchain ecosystem in the Philippines. SCI designed products such as Remittance, Payment Processing, Investments and Mobile Money, offering its P2P remittance services to COSS customers shortly.

Eva Energy – a subscription-based energy-supply company from Romania dedicated to delivering integrated utilities – electricity and natural gas to industrial and domestic customers since 2012. On COSS.IO Eva Energy is soon to introduce billing for gas and electricity in cryptocurrency.

CardBlue – a Romania-based provider of prepaid MasterCard and the associated services. CardBlue is soon to issue COSS prepaid cards for easy deposit/withdrawal of cryptocurrency, its conversion into cash and to enable payments in physical stores.

Civic – a platform that provides identity theft protection by means of multi-factor authentication, third-party authenticator and a physical hardware token. Civic login is soon to be implemented on COSS.

ICORating – a rating agency that has developed a system helping to analyze ICOs greatly contributing to the growing market behind it. ICO Rating will soon collaborate with COSS to put ICO services to the next level by offering a set of related services.

FundYourSelfNow (FYN) – startup that aims to revolutionize the traditional crowdfunding by catering services that facilitate team-building and project development to help creators fundraise for their projects from scratch. Together with COSS, FYN will transform fundraising.

CoinFirm – a startup that is currently building a foundation for safe adoption and acceptance of the blockchain assets via its various services such as AML, KYC, Compliance, Analytics, Monitoring, etc. Through its collaboration with CoinFirm, COSS will soon introduce the enhanced AML function to its customers.

Digital Developers Fund (DDF) – an investment fund designed to let investors participate in the extraordinary growth of domain names and crypto currencies. DDF’s investment focus concentrates on the domain names, cryptocurrency and reserve funds.

Jetcoin Institute – manages the distribution of the digital fuel, Jetcoin (JET) operating within the sports and the entertainment industries. Very soon the customers of COSS will be able to take advantage of the deals available for the participants of the network behind the Jetcoin Institute.

[Scheede]

COSS MOUs/ROADMAP to be implemented after the token sale.

Here are some of the many agreements made to increase the use-cases on the coss.io platform. Many more in the pipeline.

TaaS – the first tokenized closed-end fund aiming to reduce the risks and technical barriers of investing in the blockchain space. With its profit-sharing smart contract, TaaS has introduced a new business model allowing investors to benefit from the fund’s income stream.

CoinPip – a Singapore-based company that reinvents the way money transfers between businesses are made. CoinPip helps businesses to send money abroad in under 48-hour time avoiding bank or forex charges. On COSS CoinPip is soon to cater B2B remittance.

Attores – a platform that offers Smart Contracts as a Services making it easy for customers to write, submit and execute Smart Contracts on the blockchain. On COSS, Attores will soon implement digital signing of documents and certificates.

Satoshi Citadel Industries (SCI) – a financial technology company building the blockchain ecosystem in the Philippines. SCI designed products such as Remittance, Payment Processing, Investments and Mobile Money, offering its P2P remittance services to COSS customers shortly.

Eva Energy – a subscription-based energy-supply company from Romania dedicated to delivering integrated utilities – electricity and natural gas to industrial and domestic customers since 2012. On COSS.IO Eva Energy is soon to introduce billing for gas and electricity in cryptocurrency.

CardBlue – a Romania-based provider of prepaid MasterCard and the associated services. CardBlue is soon to issue COSS prepaid cards for easy deposit/withdrawal of cryptocurrency, its conversion into cash and to enable payments in physical stores.

Civic – a platform that provides identity theft protection by means of multi-factor authentication, third-party authenticator and a physical hardware token. Civic login is soon to be implemented on COSS.

ICORating – a rating agency that has developed a system helping to analyze ICOs greatly contributing to the growing market behind it. ICO Rating will soon collaborate with COSS to put ICO services to the next level by offering a set of related services.

FundYourSelfNow (FYN) – startup that aims to revolutionize the traditional crowdfunding by catering services that facilitate team-building and project development to help creators fundraise for their projects from scratch. Together with COSS, FYN will transform fundraising.

CoinFirm – a startup that is currently building a foundation for safe adoption and acceptance of the blockchain assets via its various services such as AML, KYC, Compliance, Analytics, Monitoring, etc. Through its collaboration with CoinFirm, COSS will soon introduce the enhanced AML function to its customers.

Digital Developers Fund (DDF) – an investment fund designed to let investors participate in the extraordinary growth of domain names and crypto currencies. DDF’s investment focus concentrates on the domain names, cryptocurrency and reserve funds.

Jetcoin Institute – manages the distribution of the digital fuel, Jetcoin (JET) operating within the sports and the entertainment industries. Very soon the customers of COSS will be able to take advantage of the deals available for the participants of the network behind the Jetcoin Institute.

those are good news, thanks Rune!

Do you already have some more details about COSS prepaid cards? (anonymity, fees etc)

[coss-rune]

COSS MOUs/ROADMAP to be implemented after the token sale.

Here are some of the many agreements made to increase the use-cases on the coss.io platform. Many more in the pipeline.

TaaS – the first tokenized closed-end fund aiming to reduce the risks and technical barriers of investing in the blockchain space. With its profit-sharing smart contract, TaaS has introduced a new business model allowing investors to benefit from the fund’s income stream.

CoinPip – a Singapore-based company that reinvents the way money transfers between businesses are made. CoinPip helps businesses to send money abroad in under 48-hour time avoiding bank or forex charges. On COSS CoinPip is soon to cater B2B remittance.

Attores – a platform that offers Smart Contracts as a Services making it easy for customers to write, submit and execute Smart Contracts on the blockchain. On COSS, Attores will soon implement digital signing of documents and certificates.

Satoshi Citadel Industries (SCI) – a financial technology company building the blockchain ecosystem in the Philippines. SCI designed products such as Remittance, Payment Processing, Investments and Mobile Money, offering its P2P remittance services to COSS customers shortly.

Eva Energy – a subscription-based energy-supply company from Romania dedicated to delivering integrated utilities – electricity and natural gas to industrial and domestic customers since 2012. On COSS.IO Eva Energy is soon to introduce billing for gas and electricity in cryptocurrency.

CardBlue – a Romania-based provider of prepaid MasterCard and the associated services. CardBlue is soon to issue COSS prepaid cards for easy deposit/withdrawal of cryptocurrency, its conversion into cash and to enable payments in physical stores.

Civic – a platform that provides identity theft protection by means of multi-factor authentication, third-party authenticator and a physical hardware token. Civic login is soon to be implemented on COSS.

ICORating – a rating agency that has developed a system helping to analyze ICOs greatly contributing to the growing market behind it. ICO Rating will soon collaborate with COSS to put ICO services to the next level by offering a set of related services.

FundYourSelfNow (FYN) – startup that aims to revolutionize the traditional crowdfunding by catering services that facilitate team-building and project development to help creators fundraise for their projects from scratch. Together with COSS, FYN will transform fundraising.

CoinFirm – a startup that is currently building a foundation for safe adoption and acceptance of the blockchain assets via its various services such as AML, KYC, Compliance, Analytics, Monitoring, etc. Through its collaboration with CoinFirm, COSS will soon introduce the enhanced AML function to its customers.

Digital Developers Fund (DDF) – an investment fund designed to let investors participate in the extraordinary growth of domain names and crypto currencies. DDF’s investment focus concentrates on the domain names, cryptocurrency and reserve funds.

Jetcoin Institute – manages the distribution of the digital fuel, Jetcoin (JET) operating within the sports and the entertainment industries. Very soon the customers of COSS will be able to take advantage of the deals available for the participants of the network behind the Jetcoin Institute.

those are good news, thanks Rune!

Do you already have some more details about COSS prepaid cards? (anonymity, fees etc)

Nothing to reveal yet, but we are in advanced stage of the process. No firm timeline yet, but it will be duly announced once we have more to share.