Hey dev team, is the total token supply will be determined based on how much ethereum is collected? and when the locked token will be unlocked? what percentage per period? I wish your project will running well on collecting fund although a little quiet here.
Hi necromastery,
The total token supply is calculated in the following way:
Each contribution, mints tokens based on the amount of ETH that is sent into the contract you choose to fund.
There are 3 inputs and 2 periods:
Contract Name Address (Ethereum - MainNet)
InputDirect 0xb05faba79ac993dc1ff7e3a0a764c3d0478cdc1f
InputMilestone 0x91ca47b9ec3187c77f324281a1851f4b991103f1
InputMarketing 0xdfe06d5a4534fbe955eebe8a4908ef596763c2a4
Both InputDirect and InputMilestone - are funding inputs that create a personal smart contract ( funding vault ) that stores received ETH and tokens you bought until the 1st of May 2018.
InputDirect
- releases your locked ETH if funding has not met soft cap.
- releases your tokens if funding is successful
InputMilestone
- releases your locked ETH if funding has not met soft cap.
- releases your tokens if funding is successful in a percentage ( see the end of the post for percentage list ) that is assigned to each milestone, once said milestone is complete.
- if for any reason a milestone fails and investors vote that it's failed, you can take the remainder of your investment back.
InputMarketing ( period 4th of feb - 10th of March )
- Gives you 20,000 tokens for 1 ETH
- Is a funding input that sells tokens directly to your wallet.
- ETH collected is used exclusively by our marketing team, for google ads / youtube video promotions and ico listing promotion.
PRE-ICO - InputDirect and InputMilestone, will give you 9800 Tokens per 1 ETH (40% bonus).
ICO - InputDirect and InputMilestone, will give you 7000 Tokens per 1 ETH.
Total supply:
At the end of the funding period, based on total supply sold, another 40% is minted for the project team ( split against team / advisors / early investors / marketing partners ).
At the same time a pool of 3% is minted and allocated to the Bounty Manager contract, that will then send tokens out to participants.
The project 40% pool will stay locked for a period of at least 2 years while development milestones get implemented and validated by investors.
To resume:
If you believe in the project and want to help us with marketing, yes you are taking some of the risk with us, you get a bonus for doing so.
If you want to risk nothing, use direct or milestone funding, and you'll be able to take your funds back if we don't manage to get enough traction in order to get funded.
Trustless:
Everything described here and more is already implemented and running the DAPP deployed to the main ethereum network.
You can find the full list on
https://github.com/blockbitsio/smart-contractsAs well as attached to each contract on etherscan.io
In the next following weeks we will be adding a new area on our website that will allow you to view how each transaction works and affects the system.
i.e: if you send ETH to DirectInput, it travels to the Funding Entity, which validates it, then passes it along to the Funding Manager that instantiates a new personal Vault ( if none exist ), sets you as an owner on it, then sends the ETH to it.
The "hard part" is already done, the blockchain code is already there, we just need to assemble an intuitive and user friendly interface for you guys
Milestones contract ->
https://etherscan.io/address/0xb4e8d821b5b43fca08f5986d9b52a8dc00565cc5#readContractMilestone Percentages:
1 - Minimalistic Platform - 20%
2 - 3rd Party Launch Functionality - 20%
3 - Code Upgrade Tools and Token Buyback - 10%
4 - Basic Risk indicators and Collaboration tools - 15%
5 - Advanced functionality - 15%
6 - Token Holder Upgrades - 10%
7 - Full Decentralization - 10%
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Hope i've answered your questions
and feel free to ask anything.
By the way for discussions feel free to join our telegram channel
https://t.me/blockbitsCheers, Micky
