Due to the appreciation of ETH and BTC over the past few weeks. We have decided to change our Hard Cap and Price Peg of GIFTO to USD equivalent in ETH or BTC. Why?
We want to be equitable for our private participants and their contributions.
We take out the volatility of the current cryptocurrency market for the GIFTO Token Generation Event.
The changes are:
Hard Cap: 30 MUSD equivalent in ETH or BTC
Token Sale Price: 1 GIFTO = 0.1 USD equivalent in ETH or BTC
All other terms remain the same
Previous article from Nov 22, 2017 is below:
Today, the GIFTO team has revealed their Token Generation Event, Allocation and Distribution Structure:
GIFTO ALLOCATION AND DISTRIBUTION
Total Number of GIFTOs: There will only be 1,000,000,000 GIFTOs created and this is a finite number. We have considered various scenarios, and we believe that this amount of GIFTOs ever in creation is sufficient to foster a strong and vibrant GIFTO community.
Due to an overwhelming support of our private contributors, advisors and early adopters of the GIFTO Protocol, we have decided that of the total 300 million GIFTOs available during the Token Generation Event, 200 million GIFTOs will be allocated to our private contributors. There will be a staggered 6-month lockup.
The remaining 100 million GIFTOs will be distributed during the public sale via Binance (or other avenues as we see fit) and through our whitelisting process. We will strive to ensure as wide of a distribution as possible; hence, we have decided on the individual caps for the public sale.
There are 2 tiers for the individual caps during the public sale. This is to ensure prudent execution base on the level of information available to us during the whitelisting process. For Tier 2 contributors, depending on the market price of ETH at the time of public sale, we may choose to limit contribution to 10 KUSD at ETH equivalent.
We will close the public sale once the Hard Cap is met or January 13, 2018, whichever is earlier.
In terms of GIFTO allocation, the remaining 70% will be allocated as follows:
30% will be used to power the ecosystem over a foreseeable future (3 to 5 yrs) as we roll out the Decentralized GIFTO Protocol. We want to ensure proper functioning of the GIFTO at first in a centralized manner then open up the ecosystem across multiple content platforms in a systematic and strategic way. Some of the tools available to us may come in the form of moral persuasion, incentivizing and evangelizing users adoption, providing partners with strong and compelling reasons to join the GIFTO protocol.
25% will be allocated to the Company’s reserve. This will be used over time to ensure proper long-term functioning of the GIFTO Protocol.
15% will be allocated to our advisors, investors and contributors. Over the past few years and especially over the past 12 months, significant contributions have been made by these key partners to ensure GIFTO Protocol has achieved certain milestones and be where it is today. There is a lockup of 6 months for our advisors and investors in addition to a 2-year lockup for team members.
Lastly, proceeds from the Token Generation Event will be appropriately allocated to jumpstart and execute the GIFTO Protocol. Usage of the funds will include product development, engineering, marketing, market adoption, user acquisition, and operations.
Thank you for your continued support of the GIFTO Protocol, and if you haven’t done so, join us on Telegram @giftoofficial and register to the whitelist at
https://gifto.ioHow do you get the airdrop for Gifto??
Step 1: Join and stay in the Gifto telegram group in order to receive the Giftos.
Step 2: Go to our @giftoofficialbot and type /start to start the conversation.
Step 3: Enter 0026 to get 1 extra free spin.
Note: Gifto earned from the spin wheel is cumulative with a cap at 100Gifto.
