Simple Token to Launch Public Token Sale November 14
Simple Token Finalizes Details of Token Sale and Announces Community Crowd Sale Bonuses -- The More Sold, the More the Community Benefits
HONG KONG, Nov. 13, 2017 /PRNewswire/ -- Simple Token, the onramp for consumer applications to tokenize without minting and maintaining new blockchains, will launch its public token sale ("ST" tokens) on November 14 at 13:00:00 UTC. To register and participate, visit sale.simpletoken.org.
ST is a utility token that supports use of the OpenST protocol for app tokenization. OpenST is available on Github via open-source license. The OpenST Foundation, a Hong Kong limited by guarantee company, is holding the token sale in order to "mint" ST that companies can stake on the public Ethereum mainnet against their own branded token economies on open scalable side-blockchains. ST is also intended to be used for transaction fees on Open ST side-blockchains. With a price per token set at USD $0.0833, a hard cap of 240 million ST tokens are available for purchase of the finite supply of 800 million total ST.
Simple Token has announced three new accrual bonuses, each designed to effectively benefit the community by lowering the price for all purchasers based on the amount sold in the first token sale:
- ST Target: When the sale target of 100 million ST has been reached, all participants will receive an automatic 20 percent "ST Target Bonus" on their purchases. The ST Target Bonus will be on top of any other bonuses participants have earned.
- ST Kicker: When a total of 120 million ST have been sold, all participants will receive an automatic 25 percent "ST Kicker Bonus" on their purchases. The ST Kicker Bonus replaces the Target bonus.
- ST Power: When a total of 180 million ST have been sold, all participants will receive an automatic 30 percent "ST Power Bonus" on their purchases. The ST Power Bonus replaces the Kicker bonus.
The sale is scheduled to close at 12:59:59 UTC on 1 December, 2017. When the sale ends, bonuses will be paid from any unsold tokens from the 240 million tokens available for this sale. If there are not enough unsold tokens to cover the bonuses, the remainder will come from the reserve for possible future token sales. Any remaining unsold tokens from the first token sale after all bonuses have been allocated shall be burned. Purchased tokens will be distributed immediately upon confirmation of payment and shall be activated within three weeks from the closing of the token sale. Bonus tokens will be distributed within 45 days of the closing of the token sale and shall be activated upon distribution. All purchasers in the first token sale shall receive a 20 percent discount on any purchases in future token sales, should such events occur.
Additionally, Simple Token announced the onboarding of its first Member Companies: Gushcloud, XAIN, InterviewBit, Digital Knights, Pepo, Floship and Vidi-VR. The first live end-to-end demo OpenST implementation was also published, demonstrating launch of "Pepo Coin" within the Pepo app, with live transactions recorded on side blockchains and backed by staked ST on Ethereum testnet.
"Simple Token is ready for use by developers to build apps on OpenST, and by companies who want to tokenize their communities," commented CEO Jason Goldberg. "The core purpose of the token sale is to foster and build a vibrant ecosystem of innovation around the OpenST protocol. We've designed the token sale to provide increasingly more benefits to the community based on the number of participants, and so far we've seen extremely strong interest that we expect to continue accelerating."
Join the Simple Token conversation on Telegram to speak directly with the project's founders and developers. Contact [email protected] with inquiries concerning getting your business onto the world's first viable inter-exchangeable blockchain ecosystem.
About Simple Token
Simple Token, founded by serial entrepreneur Jason Goldberg, enables mainstream applications to deploy their own branded crypto-backed token economies, in a scalable and cryptographically-auditable manner, without needing to mint and maintain their own publicly-tradable crypto tokens. Simple Token enables any company to create, launch, and manage their own branded digital token economy on open and highly scalable side-chains anchored to the Ethereum mainnet, without in-depth blockchain development requirements. For more details on Simple Token please visit http://simpletoken.org.
SOURCE Simple Token
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