Alttradex ICO is LIVE- About the Smart Contract
The Alttradex ICO is now live! As part of the Alttradex philosophy of being transparent the team wanted to share some of the contracts key attributes.
The Alttradex smart contract is based on the OpenZeppelin reusable templates with some major adjustments. The reasoning behind using those contracts is that it provides a community generated and audited codebase. Moreover, since it’s actively maintained and audited by the community it’s least likely to have any technical flaws.
We have kept the key attributes of the contract as separated as possible to allow for flexibility and control over the progress. The Alttradex contract consists of 3 main segments:
Alttradex Token contract: creates a limited supply of burnable tokens and assigns all the tokens to the contract creator.
Alttradex Crowdsale contract fundamentals: implements a capped, refundable crowdsale contract. Instead of the OpenZeppelin suggested approach to mint new tokens every time someone is buying, we create all our token beforehand in the Alttradex Token Contract. The tokens are then transferred to Alttradex Crowdsale contract which are subsequently transferred to the buyer. All the Ether collected during the crowdsale goes into a secure vault. After the crowdsale is finalized, depending on the results the Ether is either transferred to the team account or is available for the refund (if the cap is not reached). Moreover, the finalize function will burn all the leftover tokens that are unsold as stated in the Alttradex whitepaper.
Alttradex Token Lockup contract — this contract will allow the team to transfer their tokens into the time locked contract that will hold them for 72 weeks (18 month) and after that team tokens will be able to be transferred into the team wallet.
We hope that this quick overview has provided you with some insights regarding our contract. As per the Alttradex mandate we pride ourselves at being as transparent as possible and our contract has been designed to do just that.
For more information, please refer to the link below.
Thanks you for your support.
The ATXT Team