OST | SIMPLE TOKEN -- Blockchain Infrastructure Empowering New Economies

[szfinx]

Could you explain briefly why your project need a token apart of fundraising? In return, what are the investors going to receive apart of the token?

[TheSimpleToken]

Simple Token “ST” is a utility token and our customers need to acquire ST in order to create their own branded tokens powered by ST.

The upcoming first Simple Token sale event on November 14, 2017 (commonly known as an “ICO”) is required for two reasons:

1. Because the OpenST Protocol requires staking ST to create BT, we need to first create ST and have some value placed on it by purchasers of ST.

2. So that we can create an endowment for the community ecosystem. 27.2% of the ST token supply is intended to be reserved for what we call the Network Accelerator Program. This will be used by the OpenST Foundation Limited (“OpenST”) to seed projects, developers, and teams that are building interesting use cases based on ST. In this manner we can become a seed program/accelerator for a new generation of apps launching branded token economies..

More details:

Simple Token is a protocol and software suite for consumer app tokenization.

The business and technical challenge we set out to solve is to enable mainstream applications to benefit from deploying their own branded crypto-backed token economies, in a scalable and cryptographically auditable manner, without needing to mint and maintain their own publicly-tradable crypto tokens. This project began with our attempt in 2016 and into early 2017 to develop a token economy for one app, Pepo, and our realization that rather than building tokenization technology for one app, the much more important, interesting, and worthy challenge was to build the enabling technology for any app to tokenize and benefit from having parts of their business on a blockchain.

We want to enable any business to launch their own branded crypto-based economy without the legal, regulatory, and technology headaches involved with going alone. This could enable them to monetize user contributions and content, power peer-to-peer transaction, provide meaningful incentives and rewards, develop transparent loyalty programs, and unleash thousands of new monetization and supply / demand possibilities.

The OpenST protocol, powered by our ERC-20 token “ST,” enables any company to stake ST on Ethereum main-net to mint their own branded digital currency (aka “tokens”) on open scalable side blockchains, in a crypto-graphically auditable manner.

The Simple Token software, built on OpenST, helps companies launch and manage their ST-powered token economies. It’s a SaaS software package, a dashboard, a set of tools, for managing a token economy.

Here's more details. https://simpletoken.org/documents

[TheSimpleToken]

How is your presale going?  It would be nice to provide this update or have it on your website.

We've already sold several million dollars worth of ST, and will release full details of the private pre-sale at least 72 hours before the public sale begins. The total amount available in the public sale will be in the smart contract as well.  Some of our early backers can be found here https://simpletoken.org/team.

[Ahooleeman]

SimpleToken is listed at https://foxico.io/project/simpletoken

[TheSimpleToken]

SimpleToken is listed at https://foxico.io/project/simpletoken

Thank you!

[TheSimpleToken]

We are proud to release and open-source OpenST, the technical foundation of the Simple Token project on
Github.

[Vladdirescu87]

Building a Bridge Between Cryptocurrencies and Main Street

By Jason Goldberg, Founder and CEO of Simple Token

The state of blockchain technology today is much like the state of the Internet in 1993 (albeit with the hype of 2000) - while confusing to main street due to its complex nature, developers alike see its potential to transform every industry. Our project, Simple Token, along with other blockchain projects are planting seeds, building infrastructure, and developing platforms that will take many years of tremendous vision, effort, tenacity, and execution to deliver on the promise.

The business and technical challenge our team set out to solve is to enable mainstream applications to benefit from deploying their own branded crypto-backed token economies, in a scalable and cryptographically-auditable manner, without needing to mint and maintain their own publicly-tradable crypto tokens.

https://coinidol.com/building-a-bridge-between-cryptocurrencies-and-main-street/

[chipsmat]

Devs are nice, I like their answers here!

[TheSimpleToken]

Early Access registration for Simple Token sale is now underway! Here’s a summary of everything you need to know in order to get on the Simple Token early access sale whitelist:
https://medium.com/simple-token/early-access-registration-for-simple-token-sale-is-now-underway-24a84125baf3

[bitmybit]

What sort of competition are you facing at this juncture?

[TheSimpleToken]

What sort of competition are you facing at this juncture?

Great question! We are not aware of any companies or organizations working on the Simple Token approach to combine (a) an ERC-20 token with (b) a protocol for launching and managing branded tokens on scalable open side-chains, and (c) a robust user-friendly software suite for consumer-app tokenization. We found a whitespace in the market and are currently the only company providing technologies of this kind.

[Coinve.st]

Can you provide us with transparency with how much has been raised so far?

[TheSimpleToken]

Can you provide us with transparency with how much has been raised so far?

Hi! We will be announcing the pre-sale results 9 November. We are committed to full transparency - you can check our Use of Proceeds and other key information here.

[jamescloudynieze]

It seems so much interesting to me now, i have a question is there a bounty nor an airdrop?

[merridaa]

I think you have a bold new concept, with a very high supply value that is able to attract traders to join in this project

[tperkara]

it seem very interesting , there is no bounty campaign or Airdrop for this project yet, or just Telegram only?

[TheSimpleToken]

it seem very interesting , there is no bounty campaign or Airdrop for this project yet, or just Telegram only?

At the moment we have a community Proof of Support Rewards programme. Show us your support and earn 10% Bonus for your purchase.

[TheSimpleToken]

Simple Token is now trending on the home page of Product Hunt! Woohoo! Check it out: https://producthunt.com

[Coinve.st]

Can you provide us with transparency with how much has been raised so far?

Hi! We will be announcing the pre-sale results 9 November. We are committed to full transparency - you can check our Use of Proceeds and other key information here.

Why would you wait until the 9th to provide the results?  Usually companies exclude this information when they don't have enough sales to prevent scaring new potential investors away because there isn't enough intereste or momentum in a project.  Blockchain and this industry is build upon transparency.  I wish more companies would apply that principle.

[TheSimpleToken]

Can you provide us with transparency with how much has been raised so far?

Hi! We will be announcing the pre-sale results 9 November. We are committed to full transparency - you can check our Use of Proceeds and other key information here.

Why would you wait until the 9th to provide the results?  Usually companies exclude this information when they don't have enough sales to prevent scaring new potential investors away because there isn't enough intereste or momentum in a project.  Blockchain and this industry is build upon transparency.  I wish more companies would apply that principle.

We are 100% pledged to transparency. We've given pre-sale purchasers time until 8 November to finalise the agreements - announcing before would not be prudent. We will announce the numbers as soon as the last pre-sale is closed.