The below are some of the most frequently asked questions from this past week regarding Simple Token and our upcoming token sale (11.14.17). Be sure to check out our website and join the conversation on Telegram to speak directly with our founders and developers!
Q: So I heard that I can receive a 10% bonus on top of all tokens I purchase. How?
A: We’re excited to announce our Proof of Support rewards program to thank those who support the Simple Token project! The Proof of Support program offers a 10% bonus on top of all tokens purchased to whitelisted individuals who promote Simple Token via social media. Anyone who (a) joins our Telegram channel, (b) presents 1 form of “Proof of Support” for Simple Token and (c) pre-registers between 1 to 11 November 2017, will be whitelisted for the Early Access Simple Token sale on 14 November, 2017 AND will receive a 10% bonus on any tokens purchased during the Early Access sale period.
Your proof of support is entirely up to you. You decide. Make it authentic. Whether your preference is to tweet about @thesimpletoken, invite others to join our Telegram channel, create a YouTube video, post to your friends on Facebook, or on Bitcointalk or Reddit, or just emailing or texting your friends, you decide. And there is no minimum amount, no games, no bounties. It’s your decision entirely how much support you want to provide.
Email your proof of support to [email protected] before 11 November, 2017. Your proof should be in the form of (a) your Telegram username, and (b) a screenshot of your support for the project.
Some important notes:
Make sure to email us your proof of support from the same email address that you plan to use to register for the Simple Token sale. We will send you an email reminder, once you submit your proof of support.
You must pass KYC/AML (“know your customer / “anti-money laundering”) checks in order to be officially whitelisted and approved to purchase in the token sale. Exact requirements for KYC/AML compliance to follow.
You must purchase Simple Token’s during the token sale on 14 November, 2017 in order to receive your bonus tokens. These are bonus tokens not freebies.
Your bonus tokens will be released to you within 30 days following the token sale to the same public ETH address that you have provided during registration.
View the guide for more info!
Q: What is the initial token sale price? Is there a minimum to participate?
A: The price of ST will be $0.0833 per ST, with 240,000,000 of the available token supply of 800,000,000 available for purchase = $20M hard cap. The minimum purchase in the token sale is 0.1ETH = around $30.
Q: Is there a lock-up period on token purchases?
A: There is no lock-up period for tokens purchased during the public token sale commencing 11.14.17. However, for pre-sale purchasers, we wanted to make sure that larger purchasers don't dump their tokens immediately. Pre-sale purchasers are intended to be long term supporters of the project. We therefore created a standard process by which all pre-sale purchasers get 1/12th of their tokens released to them on a monthly basis for the 12 months following the sale. For a purchaser of say $1M worth of Simple Tokens, they would get $1.2M of tokens. Those tokens would be distributed 100,000 per month over 12 months.
Q: When does the token sale begin? How can I participate, and what are the specifics of the public sale?
A: We are starting the token sale on 14 November, 2017 at 5:00am PST (13:00pm UTC). Here are the key features of our token sale:
- Ticker: ST
- Cap: $20M, $0.0833 per ST
- An ERC20 utilty token
- Purchasable using ETH
- Token supply: 800 Million ST, finite supply
Tokens will be distributed after the sale.
Special Bonus only to our Community Supporters:
10% bonus
Pre-sale bonuses for early large purchasers. Contact [email protected] if you want to join.
- $200,000 to $1M in pre-sale, 20%
- $1M to $2M in pre-sale, 30%
- $2M to $3M in pre-sale, 40%
- more than $3M in pre-sale, 50%
Tokens are allocated as follows:
- 30% available for this token sale = 240,000 million of 800M total finite supply
- 27.2% reserved for grants for projects building branded economies on Simple Token.
- 12% to 17.2% of the token supply locked in a smart contact for a minimum of 6 months from the initial token sale for possible future token sales. (The exact amount will depends on bonuses provided in pre-sales, as described above).
- 10% for advisors, with 2 year vesting.
- 10% for the founding team, with minimum 3 year vesting.
- 5.6% for early financial backers, with minimum 3 year vesting.
To learn more, please visit us:
Website: https://simpletoken.org
Team: https://simpletoken.org/team
Medium: https://medium.com/simple-token
Github: https://github.com/OpenSTFoundation
Join our community:
Telegram https://t.me/simpletoken
YouTube https://www.youtube.com/channel/UCrDo4vSElgUa_HzdvYqBZTA/videos
Twitter https://twitter.com/thesimpletoken
Q: How is the pre-sale going? Are you confident that Simple Token will have enough participants to get the ecosystem rolling?
A: We’re very excited by the flurry of activity surrounding the pre-sale so far! Here are some numbers on community participation:
60K+ views of the Simple Token pitch deck, 40K in last 4 days, 20K of older version https://www.slideshare.net/fabulis/simple-token-final-deck-for-14-november-2017-ico
30K+ views of Simple Token YouTube videos https://www.youtube.com/channel/UCrDo4vSElgUa_HzdvYqBZTA/videos
14K+ Twitter followers https://twitter.com/thesimpletoken
2000+ people signed up for Simple Token news and pre-registration alerts on our website https://simpletoken.org/token-sale-landing
This Telegram channel grew from 300 to 919 in 7 days https://t.me/simpletoken
50+ solid leads for Member Companies to build Branded Tokens powered by Simple Token, the first couple to be announced this week.
And, we're still just getting started. 😉
Q: How do I go about registering for the token sale?
A: Registration for Simple Token starts on Wednesday November 1 and runs through November 11. Be sure to register in order to get whitelisted for the Early Access sale on 14 November for whitelisted purchasers only.
Our team created this nifty Registration guide with everything you'll need in order to register and get whitelisted for the Simple Token sale. Please make sure to read through this and prepare the following for your registration:
What will you need during the registration process?
- Your passport
- A camera or a smartphone to take a selfie with your passport
- Your Public Ethereum Address
Find the full process here.