VibGyor Labs Token- First Ever Crypto Currency backed by BITCOIN F&O

VibGyorlabs.io ICO Start date-28/01/2018 10:00 AM GMT

VibGyor Labs Token- First Ever Crypto Currency backed by BITCOIN Futures & Options and Spot Price

VibGyor Labs based out of UK owns all required rights & titles of VibGyor Labs Token (VGLT), the world’s first BITCOIN Futures & Options and Spot Price backed crypto currency which has minimum downside risk and unlimited up rise potential. VibGyor Labs Token a highly secure, transact able and managed crypto currency is the first to address these issues head-on. It is a crypto currency running on Ethereum platform. Further, VibGyor Labs Token will launch an ecosystem of three company economic ecosphere that will address the requirements for mass adoption through real-world use and liquidity via trading on legitimate electronic exchanges & with other crypto currencies.

The VibGyor ECOSYSTEM comprises of:

1.   ERC 20 Tokens backed by Futures & Spot Prices of BITCOIN.
2.   A Wallet for payment to various Merchants.
3.   E-Commerce platform accepting crypto currencies.

Sales:
ONLY 200 Million (1:1) VibGyor Labs Token:
•   65% will be distributed within the public as community.
•   15% will be distributed amongst project advisors.
•   15% will be distributed among members of the project team.
•   5% will remain in VibGyor’s account and will be used to collaborate with strategic partners and as Operational reserves.

Contribution Utilization:
The Contribution of Ethereum for VibGyor Labs Token will be deployed as under:
•   80% of the contribution of Ethereum will be pledged with the designated exchanges as MARGIN for investing & trading in BITCOIN FUTURES & OPTIONS (F&O).
•   Balance 20% of the contribution will be deployed for Research & Development and the recurring expenses like marketing, sales incentives, bounty programs, operations and administration which are to be incurred until the company starts reaping profit.
•   The Company is not taking any Management Fee in the beginning. But once the trading begins, the company will take 20% of the net profits as Management Fee to run this Fund.
•   80% of net profit will be either re-deployed in business or distributed amongst the Token owners.