Why do you need $10 million to develop the service?
Where does the 10 million number come from?
To reach such number, we would need to sell out absolutely all the tokens (to take the Hard cap), without bonuses (during the 3rd and 4th weeks of the ICO, without selling anything at all in the first 2 weeks).
The real number is the Soft cap. As for now, the Soft cap is 15 million FNT, but will most likely be reduced to 10 million FNT.
10 million FNT equals $3.4 million (taking into account the fact that people will buy tokens during the whole period of 4 weeks, that is, including the bonus accruals).
The team will receive only 10% of the tokens paid for the service, the remaining 90% will return to the market as dividends (see the WhitePaper, "Issue and sale of FNT tokens" section). Thus, the core funds for development, promotion and remuneration for 2018 will be formed during the ICO. Starting from 2019, the number of users must become sufficient, so that 10% will be enough for the full maintenance and development of the system.
ICO budget distribution (sorted irrelative of the expenditure):
— Promotion of the service: we need to attract 300,000 users by the third quarter of 2018.
— Mobile application development for iOS.
— Elaboration of the ‘Manage’ accounts functionality.
— Development of our own API for currency rates, ICO tokens and their historical values.
— Development of our own blockchain for processing and storing the user transactions database.
— Formation of the 24/7 support service.
— Server and administration costs.
— Security and safety systems: all user data will be completely safe, even the FinTab team will not have the access to it. By decentralizing the storage and processing of the database (by the means of blockchain) we will in fact eliminate the chance of losing or hacking the data.
— Legal registration of the company.
Salary for:
— The team of developers (about 15-20 people).
— Promotion Department (pr, marketing, community support - about 10 people).
— Technical support team (5-6 people).
Profit of the company. In our case, ICO is not just some sort of crowdfunding, but the way of selling the tokens for "Pro" and "Manage" accounts’ payments (of which we will only receive 10%). All that goes beyond the stated costs is the company's profit for 2018.
That is why FinTab is not just a service, but the accounting system for crypto-currency portfolios. One of the main problems of existing services is that they do not have enough resources for development. That's why we decided to have the ICO in order to make a cool, working service - the system that will be used by funds and traders - and maintain it at the highest level.
