Some questions we were asked on e-mail and answers we gave:What is the token role in your project? Is it a security?
It is a typical utility token that represent loyalty points in the loyalty system. Token acts like a "ticket" to services, at this stage it is more like early access to the loyalty platform and in the future it will act as full loyalty point.
Our platform will concentrate on marketing campaigns that will reward its users, but ticket are only confirmation of the identity of participation to the system (so there is no dividends, but still people get goods or rewards, but like in typical loyalty programs). Of course, merchants may define the rules of campaigns for the representation of the token, but still it is not in the element of a security, so we were careful on that and talked to 4 legal offices.
Are you planning to reach out to US investors? It requires approx. 200-300k USD for research due to:
- 4 patents on tokenization of loyalty systems
- legal offices support
- tax recognition
It all depends how much we will grow. For now, our terms and conditions forbid US Citizens to invest, but it is a "just in case" scenario, as we use external KYC/AML mechanics related to Waves DEX exchange.
What is your hard/soft cap? Soft cap is not defined, because we have 3 scenarios of growth:
- if the budget is not collected, we plan to make an advanced airdrop to generate new customers (even now we are able to work with 150k customers for merchants) + we are securing partners (we talk to merchants who want to participate), we will make a consilium with main token owners.
- if the budget is collected but at small amount (i.e. 80k USD) - we do the software ASAP in minimal variant and implement campaigns based on social trade tokens (so the dynamics will be lower, but it will be easier to do than in the first scenario)
- if the budget is collected at min 2.7M - we plan to do MVPs in Amsterdam and Malta and China (mainland - we have partners there), and then we will try to get to "Asian Tiger Countries", but all business are under conditions to be global - so ALL users of the token will have access to their goods/services.
Hard cap is defined by relation to Waves, here you have the token table:
https://tokenloyalty.io/files/TokenDetails.pdfHow many tokens do you plan to create? And how many from them will you sell during ICO? As in the link above (approx. 70M tokens created). There is progressive model of sale (because the second goal is to have token holders), so:
1. First phase was airdrop to create a "small market" of tokens as a research for the project + to have initial customers to show to initial merchants we talk to (it is very important to show the merchants the mechanics plus encourage people to use the token)
2. ICO phase is divided into different prices, increasingly, so it is defined as with discount, but this discount does not affect the end price, which is important for long-term thinking as we have.
Did the team work on other projects before? yes, we have a very experienced team plus we have an own business experience, for example:
- our CTO worked for a very large polish e-commerce corporation, workked in Germany, and other countries
- our CMO worked in offline with FMCG industry, traded with Russians, Chinese, British People
- I have a huge experience in the financial market, I had an own (co-ownership) VC which was sold
We have also international bounties-team support, those people are invited to work after ICO with us if we have budget (they are doing a great job).
What projects did you do before (as a CEO)? For example:
- Internet Group SA (by ex co-owner of eFund SA; apport process for the sale of assets, as a Supervisory Board Member) - public listed company.
- Cada Casa systems (I co-started the project as general manager in Poland, we got even prize of the Polish Chamber of Commerce, this project works in Poland, Russia and Germany, we cooperate also with Algeria, France, Italy)
- Krauck Systems for Poland (co-implementation on Polish market - first phase of implementation, cooperating with Innox Nova and Estom)
- TechnoBoard (ex co-owner)
best regards,
Gregory.
Topic: TOKENLOYALTY - OFFICIAL TOPIC ON BITCOINGARDEN [ICO ENDED] (Read 9446 times)