ICO results | credits.com

ICO finished Feb 18 2018



View smart contracts for ERC-20 CS tokens on Etherscan.
HARD CAP REACHED: 23923.45 ETH

ICO

$20 Million Hard Cap reached within 17 Hours with small Individual Caps of 0.5 & 9.9 ETH
Crowdsale lasted less than 24 hours.
120 000 requests for Whitelist for the total amount of $1 350 000 000 were received
More than 15 000 contributors have become token holders

Let’s sum up the results of the token sale:

Pre-ico contract

(2 092 850,00 - the first, 37 871 737,83 - the second)

Marketing (already spent)
Marketing (already spent) 1.00% 2 494 710,70
ICO 99 739 211,35
sum 139 703 799,88 56,00%
Average pre-ico bonus 49.88%
Founders and team 15,00% 37 420 660,68
Operation 20,00% 49 894 214,24
Advisors 2,00% 4 989 421,42
Bounty 2,00% 4 989 421,42
Bug bounty 2,00% 4 989 421,42
Market making 3,00% 7 484 132,14
sum 109 767 271,33 44,00%
Total 249 471 071,21 100,00%
Burnt tokens 750 528 928,79

Escrow for ETH received in ICO

To involve all ICO participants in escrow we have decided to create a new escrow scheme.
As we previously announced 20% of collected funds will be kept in a special wallet. They will be locked until 50% of our ERC 20 tokens are exchanged to internal coin of our platform. New platform with its own cryptocurrency is a confirmation that obligations for developments of the platform are fulfilled.

ICO dates

ICO 17 Feb 2018 - 28 Feb 2018

Round 1 - Feb 17 00:00 UTC, one day for collecting funds from strategic partners. Total amount approx. 10%

Round 2 - Feb 18,19 00:00 UTC, two days for collecting funds from all wallets registered and approved in whitelist.

Individual cap for round 2 will be determined after closing the whitelist. Round 3 will take place if hard cap isn’t collected in Round 2.

Round 3 - Feb 20 00:00 UTC, the start of public ICO with individual cap about 1eth.

ICO caps

- Soft cap $15 mln USD

- Hard $20 mln USD

- Minimum cap $1.5 mln USD (already achieved)

During pre-ICO and ICO, the company plans to sell tokens to raise between 15 and 20 million USD. During the first half of 2018, the company will only have access to 50% of the funds collected, and no more than 7-10 million USD. These funds will be used to finish development and promote the platform. Remaining, unspent funds will be unlocked after the Alpha launch and the Full release of the platform.

Token distribution

The total number of issued tokens is capped at 1,000,000,000. Tokens exchange rate is 1ETH = 5,000CS (CREDITS)

ICO - 55%

Bounty - 2%

Bug bounty - 2%

Founders and team - 15% - locked for 1 year

Advisors - 2% - locked for 6 months

Marketing - 1%. Some tokens we spent for Pre-ICO and ICO promotion

Market making - 3%

Operation - 10% - locked for 1 year for next operation

Operation - 10% - locked for 2 years for next operation

Tokens left for operations.

According to the calculated budget of the project, the company will need 15-20 million dollars for the first year of operation. This includes development and marketing.

The project's ICO model will allow the CREDITS team to quickly finish platform development and promote CREDITS use in the future.

Unused operation tokens will be blocked for at least one year, according to the following schedule:
10% frozen through 1 Jan 2019
10% frozen through 1 Jan 2020

Founders' tokens

After the end of the crowdsale, these tokens will be frozen for one year.

Legal registration

The operator of the platform is a company registered in Singapore and operates in accordance with the laws of Singapore. The company name CREDITS.COM PTE. LTD. Reg. No.: 201725929C Address: 1 GEORGE STREET #10-01 ONE GEORGE STREET SINGAPORE 049145

We strictly work in accordance with the laws of Singapore
We do not use offshore schemes
Legal conclusion of licensed lawyers in Singapore
We interact with the Ministry of Finance (central bank) of Singapore http://www.mas.gov.sg/