Dear All,
We would like to announce that we have cancelled the presale, and refunded all the investors.
In case we have made any mistake with the refund, please send us your ETH/BTC address as well as the address you sent the coins to.
SPARTA token will not be distributed through a sale or presale, instead it will be distributed for FREE to all the supporters and the players in the ecosystem.
The reasons behind our decision to cancel tokens sale & presale plans are the following:
1- The landscape is being more and more regulated, any token or coin that is being sold have a very high probability of being labelled as financial securities,
this means future problems for the companies issuing these tokens/coins.
For many ICOs that does not matter, simply because they are not planning to deliver on their promises.
For us, it does matter that the company and our startups be able to operate without being bothered legally.
2- SPARTA is created as a thank you token, intended to be received by people helping the cause, doing a sale and presale contradict the essence of the token.
3- With regulations moving fast, many exchanges are simply refusing to add new cryptos that might be considered financial securities, and most are de-listing those that do behave like financial securities. Doing presale or token sale would block SPARTA listing in exchanges, thus prevent people from easily selling the tokens they get.
4- Declaring that SPARTA will back 300 projects, might seam as an ambitious project to some; but others might see it as another “shitcoin” creating hype to scam
people. This is why if we remove the “sale” part of the token, we give no excuse to anyone to consider SPARTA a “shitcoin”.
5- We have a lot of work to do, and we need a lot of help to deliver what we promised, making a startup successful require a dedicated team. But making 300 startups successful require an army of people ready to put a lot of dedication. The SPARTA token can achieve that better when given rather than bought.
6- We want to take it slow, we want to have the time to find engaged people able to work at the peak performance level, instead of being pressured by investors to show results fast. We want to find A type people, willing to work for our vision rather than our money.
What will change ?
Bounty: Will now be considered the level 1 of the support pyramid, stakes counting will be done in a different way, please check the bounty post for details: (will be updated shortly)
The support pyramid will have 10 lvls, the lowest level will be bounty and the highest level will be spartans. We believe in dedication and excellence, and the distribution of tokens within the support pyramid will be done mostly based on that.
Token distribution: The tokens will now be entirely distributed to the builders and supporters of the ecosystem and the startups in the ecosystem.
Acquiring the SPARTA tokens: Sparta ICO, will only distribute the SPARTA token to people involved in building the ecosystem, the token can not be bought from Sparta ICO.
Big Investors looking to invest in ICOs, might find it interesting to check our distributed gold reserve system which will indirectly let them get SPARTA tokens, by helping the ecosystem (we will talk about this later).
Donors will be part of the support system and might be given SPARTA thank you token for their role in strengthening the ecosystem.
Token per startup: Each startup is entitle to roughly 1 million SPARTA tokens (minus 3–10% management fees), the majority of which will be managed centrally, pooled with the other startups tokens, and distribute to create and grow the ecosystem. Thus only once a startup joins the Sparta Startups, that it’s quota of tokens are released, until then the none assigned tokens are blocked. The tokens are only released when a startup joins, limits the amount of tokens in circulation in the ecosystem.
Token Buyback : This will no longer be a requirement, eventhough we believe that at some stages, Sparta Startups will need more tokens to power the different startups, but it has no longer an obligation and restrictions on buying them.
Instead of token buyback, the 5% to 20% of the yearly profit will go into reinforcing the ecosystem, by making the tokens accepted in more businesses,
via a subsidizing style mechanism & token buy-back agreements with businesses, and by backing the token with Gold through our distributed gold reserve system (we will talk about this later).
Governing System : We will no longer require vote, nor apply escrow. Voting would be used in rare occasions, but not for important decisions. While democracy might be a good political system, it is not a good business system, it slows down operations, it exposes too much company trade secrets to the outside world, and last, it does not put the interests of the company and startups as a priority, but rather the interests of the capital.
Token Value: Inside the ecosystem, the token will now be equivalent to 1 EUR (roughly 1.2$ at the time of writing this post), the reason we changed the value to 1 EUR is because we want to be independent from the highly fluctuating crypto market, we look to create stability in a world of speculation.
The token can be used by holders to cover 50% of the cost of products and services in the ecosystem, this value will rise rapidly to become 100% as soon as the ecosystem is functioning properly.
Startups Accelerated: To start, we will limit the number of batches to 2 batches per year, with a maximum of 6 startups per batch.
To the moon, and beyond …
Sparta ICO Team.
Thanks for explaining this clearly. I wish your team a big success in your projects.
I’m very enthusiastic about your project. I wish you good luck & an amazing, huge & tremendous success for your booming business!