The Kimera Systems ICO is currently (as at this publishing date) in pre-sale, and the Whitepaper is exceptionally detailed in the theory, science and economics behind the Artificial General Intelligence (AGI) technology the company is looking to roll out.
However, because of the multifaceted aspects of the project, gaining a complete understanding of the tokenomics could be difficult, particularly for people who may be struggling to get their head around the theory and science behind the AGI technology itself.
In this article, I have removed the theory and science, and simply distilled the tokenomics into an easy-to-read format. This allows the reader to focus solely on how the economics of the technology will function and what it will be used for, from the token sale stage through to the full implementation of the roadmap, as it currently stands.
Throughout this article, “Kimera” refers to the company, while “KIMERA” refers to the Token.
Firstly, let’s start with…
The Basics.
- Token Symbol : KIMERA
- Country of ICO: United States of America (USA)
- Compliance : Kimera have chosen to offer tokens under the provisions of applicable securities law, such as, with regards to the SEC, Regulation A and Regulation S.
Token Type : ETHEREUM-based - Smart Contract : ERC20
- Token Pre-Sale Start Date : 14 May 2018
- Token Pre-Sale Close Date : 15 July 2018
- Token Sale Dates: TBD (awaiting Approval from the SEC)
- Cost per KIMERA Token : 0.00036 ETH
- KIMERA Tokens per ETH : 2,777.77777
- Softcap : $25,000,000 USD
- Hardcap : $250,000,000 USD
- Total Supply of KIMERA Tokens : Variable, up to 2,000,000,000 (2 Billion) [see Unsold Tokens below]
- Tokens Available for Sale in ICO: 1,000,000,000 (1 Billion)
- Percentage sold in ICO : 50%
- Purchase Methods : ETH
- Bonuses: Current pre-sale bonus of 100%
- A Private Pre-sale round was held in Q1 2018 and sold out in 24 hours.
USA citizens/residents are excluded from participating in the Pre-Sale due to SEC requirements.
Unsold Tokens.
The following explanation is based on the assumption that Soft Cap is met.
At the conclusion of the Public Sale, if Hard Cap is not reached and tokens are left over from the 50% ICO Pool, Kimera has 1 year to use the unsold tokens to acquire Apps, up to the combined hard cap maximum of 2 billion tokens.
If any tokens from the 50% ICO Pool remain after 1 year from end of ICO, then those tokens will be burnt.
Just to clarify, any unsold token will ONLY be used to acquire apps. Not for team members or anything else. Any tokens not used to acquire apps will be burnt.
So total supply is a variable of 1 billion + tokens sold + tokens used - tokens burnt with a max supply of 2 billion.
If hard cap is reached, then the ETH raised during the tokensale will be used to acquire Apps. (More on this later)
Buying Tokens.
During the currently Pre-Sale 100% Bonus period: 1 ETH = 5,555.55555 KIMERA
During the entire ICO, the only way to buy tokens is via the website: https://kimera.ai
After the completion of the ICO, people will be able to buy and sell KIMERA Tokens on crypto-exchanges, although no announcements of specific listings are expected to me made until after the ICO.
Acquiring Tokens (Pre-existing App owners).
At the conclusion of the ICO, the Roadmap shows Q3 2018 as First App and SDK acquisitions.
In the event that Hard Cap is not reached the Kimera team will look to acquire an App (or Apps) in exchange for unsold tokens. The valuation of the App purchase will include the App itself, along with a valuation for the number of users currently using the platform.
Example: If Kimera negotiated to purchase a Messaging App with 1 million users worldwide, they would exchange a certain value of the unsold tokens for the base cost of the App, plus additional Tokens in consideration of the Million users that were already using the App.
If additional unsold tokens remain, additional Apps could be on-boarded using this method for up to 1 year after the end of the ICO. The goal is to acquire apps with a combined user-base of up to 50 million users, and additional App acquisitions would continue towards that goal.
If Hard Cap is reached, then this subsection is moot, as there won’t be any available tokens to offer in exchange for Apps. In that case, ETH raised during the ICO would be used for acquisitions.
Earning Tokens.
Once the AGI Node is publicly available (Roadmap indicates Q2 2019), the economy of the Nigel AGI ecosystem will begin to operate. All participants of the ecosystem will be paid in KIMERA tokens for providing, or facilitating the provision of, sensor data and contributing to Nigel’s learning.
The following entities will be able to earn KIMERA Tokens:
People, just like you and me - by placing a Nigel-embedded App onto their phone or other electronic device, people will earn tokens automatically as they generate sensor data through the normal activities they are involved with in their everyday lives. More active usage translates to more sensor data, which returns more tokens to the user. Eventually, the devices themselves will have Nigel embedded into the firmware during manufacture - from this point, users could begin earning tokens from all device usage, not just when Nigel-embedded Apps are opened.
Device Manufacturers - earn a share of the on-going value stream their products create. Integration of Nigel with device manufacturers will accelerate Nigel’s learning, as more sensor data will be available and participants will receive greater Token rewards for using the new Nigel-embedded devices.
Software Developers - earn tokens every time their Nigel-integrated apps run on a consumer device (because sensor data is created when the app runs).
AGI Node Network Owners - earn tokens as a revenue-share model, within their Network.
Kimera Systems - will also collect a small fee for the commerce transacted on the system. Commerce will oftentimes necessitate the purchase of KIMERA tokens with fiat. This fiat-to-token exchange will put upward pressure on the KIMERA token price due to the reduction of its supply over time.
Token Value.
Kimera’s economic model is focused on increasing usage of the token by offering more valuable functionality and data over time. As end-users accumulate tokens, incentives will be offered to use the tokens to access new functionality and data accessible via the KIMERA token economy.
Examples include:
- Using tokens to access premium features within apps/services
- Paying for goods and services with tokens at a discount rather than the retail cost, using fiat currency
- Exchanging tokens for online services such as hosting, storage, media, etc.
Kimera understands the importance of token value, and plans to increase the value by actively proliferating their AGI through popular mobile applications, and incentivising adoption by paying users for sensor data acquired from simply living their lives.
KIMERA tokens are backed by the Nigel AGI Intellectual Property (IP) value. This means that as the Nigel AGI matures, it’s financial value increases.
In Conclusion.
Our near future could be very different to what we currently accept as the standard way of life. A successfully launched, readily available AGI technology, such as Nigel, will allow people to start breaking free of the global reliance on greedy corporate middlemen, and give us opportunities to supplement our income simply by going about our daily lives with Nigel embedded into our devices.
But, please remember, this project isn’t all about the financial benefits and opportunities - it will literally change the way we live our lives, and a fully functional Nigel will help you achieve your goals in life, whatever they may be.
I am not a financial analyst. The above information should not be construed as financial advice and is not intended as financial advice. Always do your own research before investing in anything. The price of tokens may be volatile once listed on any exchange, and purchasing cryptocurrencies can be a high risk activity.
If you’re looking for other article reviews by this author, please check out this Telegram channel: https://t.me/aussiesloth_ico
Full Disclosure: I have purchased KIMERA Tokens during the pre-sale.
Proof of ownership - ETH address: 0xcE497066921f8aE00d1128d8B9cA105f025DF210