Escrow from top provider now secured!
We have concluded negotiations with monbux (a top Escrow provider for crypto currencies and altcoins, among the top rated in the BitcoinTalk community).
His profile can be found here:
He will be offering Escrow services for BattleDrome’s ICO which will work as follows:
- ICO Contract holds all Ether until successful completion
- If successful, ICO Contract will send ALL Ether to monbux for Escrow
- Escrow Fee will be 2% for first 1000 Ether, and 1% on all Ether beyond that. monbux will take his fee from the funds received immediately upon reciept.
- The legal budget (12% of total Ether received) up to a maximum of 200 Ether will be released immediately to allow for retaining legal council during development cycles
- The marketing and operations budget (total of 18% of total Ether raised) will be withheld by the Escrow, to be released to developers only as-needed throughout development. All requests for funds will be made via a public google sheets document, which is editable only by dev team, and escrow. But viewable publicly. This sheet will include the reason funds are requested, justification notes, etc. And will have room for Escrow to either approve or deny, along with reasoning given.
- The development budget (lump sum for founders, as well as budget for team salaries during expansion) will be released gradually throughout the project on the following schedule:
Immediately after ICO: 25% of Development Budget Released
Upon release of Alpha: 25% of Development Budget Released
Upon release of Beta: 25% of Development Budget Released
Upon Final Public Release: final 25% of Development Budget Released
(for details on planned release schedule, see the FAQ section on the main site)
The Escrow address which will be used to receive the funds from the contract is: 0x50115D25322B638A5B8896178F7C107CFfc08144
monbux will be providing a signed message confirming his support/escrow for BattleDrome shortly.