The purpose is to optimize ICO terms and increase investor confidence in the conditions detailed below.
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.
Whitelist was closed on February 15, 6pm UTC
The Alpha-version release
We are developing a serious product that demands a big amount of resources. The current team working on the project includes about 90 employees including 50 technical staff. The platform must be at most secure and implemented in accordance with specified technical characteristics - public decentralized blockchain, smart contracts and internal cryptocurrency.
Starting from February 17 everyone will be able to test the Alpha-version of the platform. That’s why the ICO dates will be slightly changed.
ICO 17th Feb 2018 - 28th Feb 2018
Round 1 - Feb 17th 00:00 UTC, one day for collecting funds from strategic partners. Total amount approx. 10%
Round 2 - Feb 18,19th 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 20th 00:00 UTC, the start of public ICO with individual cap about 1eth.
Smart contract number for IСO
The IСO number of the smart contract will be published in your personal account on February 17th
- 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.
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
After the end of the crowdsale, these tokens will be frozen for one year.
After the end of ICO the quantity of tokens sold by ICO shall constitute the 55% of all tokens to exist, and after setting tokens quantity of other shares in percentage to tokens quantity sold by ICO, the rest tokens will be destroyed or burnt.
ICO bonus - 0%
During the ICO period the token buyers who have registered in the WhiteList CREDITS ICO will be served first