Max supply is 10B tokens
- 2.2B tokens were sold in private round (sequoia capital, etc.) fully vested by month 28 (a little over 2 years) raised $3.9M: 22% of total supply => $0.00177 per tokens. (by the time the IDO occurs those investors will have converted $3.9M into $15.4M in 2 years.
- 500M tokens will be sold in public round opening in 2 days @ $0.007 on a 6 months vesting: 5% of total supply (aim to raise $3.5M)
- Launchpad presale 10M tokens @ $0.006: 0.1% of total supply (aim to raise $60K)
- IDO partners, seems like they are listed on decentralized exchange, so this is to fund the liquidity pool 90M tokens: 0.9% of total supply. They need to allocate $630,000 to their liquidity pool... very small pool compared to the $15.4M of value the private investors own at this point, fortunately they won't vest fully on day 1, but I expect them to see as soon as they can. With such a small pool, any buying volume will increase the price significantly, and make the early investors generate even more value on paper, the slaughter will being after as the price keep declining rapidly, unless they have massive adoption with traders, I doubt that's the case since they target the idiot gamblers. Big money will probably stick to binance and other trusted exchanges.
By the time the IDO launch, the team will own $14M of value combined with the private investors that's $29.4M for a liquidity pool of $630K. If we factor in all token supply at this point even though it's not fully vested, it value the token at $70M with a $630K liquidity pool. I just don't like unsustainable growth that are engineered as pump and dumps. Why wouldn't sell equity to Sequoia and the other investors, it's an exchange that will generate income on trading volume, that is the upside for the early investors, why give them so much tokens so cheaply?
tokens received for free:
- team and advisors 20% of supply: 2B tokens
- treasury and ecosystem: 43% of supply: 4.3B tokens
- liquidity and incentives: 6% of supply: 600M tokens so 69% of the supply is controlled by the team. Even publicly listed companies do not have that ratio of control. The community would own nearly nothing of this token, while it would be controlled mainly by the team, and by a few private investors like Sequoia which are likely to dump hard.
They have a moonsheet.... it's a chart that just show how much return you make if the prices does up to a certain amount... completely arbitrarily... They made a mistake on the price, they say IDO price is at $0.006 while the public round is at $0.007. A chart like this is really not serious. At $0.007 that already give them a fully diluted market cap of $70M, so if the prices goes up to $180 that's a $1.8T fully diluted market cap. I don't know why they claim binance is a $45B market cap and that would be comparable to them if the prices goes to $180, either they need to learn to count or I do... 10B tokens at $180, that's not $45B market cap unless you consider just a portion of your total supply at a specific time before your token fully vest. It's very misleading and completely stupid imo.
Overall, I can't say I'm interested in this one. Probably will have high ROI initially... just to crash and burn after. I didn't get to see if they allocated a % of the income back to the token economy like GMX does. Show Less
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