What is NewChain?
NewChain Token (NCT)In order to keep things simple, the share profit that a trader would make will be converted and payed out in a single currency, the NewChain Token or NCT. This is so that a trader who makes profit from trades in many different coins would get payed the total sum in a single currency instead of marginal amounts of all the coins he traded. Thus NCT will act like an internal currency - all the fees and profit shares will be done using the NCT.
The initial supply during the token sale will be 1 240 000 NCT - unsold tokens will be kept in a reserve. Token Sale starts on
August 31st, 2018 and ends on
October 5th, 2018.
Token Sale
Tokens will be issued in five Stages, starting at $0.20 per token and the supply capped at 40 000 NCT. Token sale automatically moves to the next Stage once the cap is reached or after one week has passed since the start of that Stage (whichever comes first.) Each Stage the price of one token is increased by $0.20 and the supply cap is doubled. The token sale ends with the maximum total supply of 1 240 000 NCT and the price of $1 per token.
Token Re-Sale
During the first four Stages investors can opt-in for so called Token Re-Sale, offering a share of their tokens to be sold at a higher price during following Stages of the sale. So early investors from Stage I will be able to re-sell maximum of 50% of their token holdings during the course of the token sale.
Tokens during Stages 2-5 will thus be sold via two methods. (1) By issuing new tokens from the total supply; (2) By current holders re-selling a share of their tokens to new investors in later Stages of the sale.
