It was truly exciting to get this many questions from SKYBIT enthusiasts during our second AMA. SKYBIT ASIA management core team joined the AMA to answer the questions.

Q: Launch SKYBIT Token IEO on Probit

We’ve been extremely busy preparing for the IEO on Probit Global Exchange, on 12 August 2021. We may have maybe 3 rounds, with limited number of tokens allocated for each. The SKYBIT token will then be listed after all rounds have finished.

Q: Second and Third IEO of SKYBIT Token

Round one of our IEO on ProBit starts this Thursday 12 August 2021. Please look out for the posters in this TG group and on ProBit’s web site.

If we have round 2 it would start very shortly after end of round 1, and similarly round 3 it would start very shortly after end of round 2. Each round would last 1 week.

Q: Real World tieup Institutions for adopting SKYBIT

We have several strategic partnerships lined up with various service providers and business associates and we will announce this soon.

Q: SKYBIT Token Listing Date

Listing date will depend in how many rounds we decide to do. We may hold maybe 3 rounds, but will decide at the end of each. Each round will have a limited number of tokens for sale (so if it sells out you’ll have to wait for the next round).

Subsequent rounds would have a higher token price and lower bonus than previous rounds. So it’s obviously be better to buy tokens earlier.

Q: Deposit SKYBIT Token from SKYBIT Platform to Probit

You’ll be able to withdraw the tokens to your ProBit deposit address, so that it will then appear in your ProBit account to be able to sell them there after the token is listed.

Q: Updates with Blockchain Association of Singapore

SKYBIT advisor in Singapore Kevin Pang helps run BAS so he and the BAS chairman invited SKYBIT to become a member, so we were one of the early members. The association has been good as a medium for dialogue between the blockchain industry and authorities, so that regulatory issues can be discussed and there’s mutual understanding.

They have often ran events during which good new information has been presented and discussed. Membership also shows SKYBIT legitimacy, and has been good for networking with other legitimate parties in the blockchain industry.

Q: Planned exchange to list SKYBIT Token

We have been in contact with many tier 1 exchanges at the moment and will announce which exchanges we will be listing on after we have finished SKYBIT IEO on Probit.

Q: Why do SKYBIT chose Probit for IEO.

We chose ProBit because they were recommended to us by people we know, and they have a lot of experience running IEOs, so they know what should be done for an IEO to go smoothly. We have found them to be very accommodating, and they have an active community of traders.

Q: Total SKYBIT Token supply

1,000,000,000 Tokens will be available.

Q: SKYBIT Token listing price

The listing price will depend on the final IEO round price, so we’d only know for sure when we decide which round is the final one we do.

Q: What makes SKYBIT a sustainable business?

SKYBIT has been in the making for 6 years by Businessmen and Technologists combining skills, knowledge and experiences of over 50 years over 4 continents, Asia, Australia, Africa and Europe passionate about curating meaningful solutions on a path of sustainability, equitable and inclusive growth.

SKYBIT Executives business models are building life changing Products and Services to address inclusive growth matters stated by the World Economic Forum and Sustainable Development Goals set up by the United Nations starting in Southeast Asia.

Q: Staking SKYBIT Tokens on Probit | Staking period & rates

Staking will be offered on ProBit after the IEO so that you can earn more just by leaving it in the account.

Staking period & rates are still to be confirmed, but maybe 10% for 7d, and up to 30% for a longer period

Q: Why SKYBIT a “social entreprise”?

A social enterprise is a business that aims to maximize both profits and benefits to society / environment. Working in PWC and IBM were good experiences but the social improvement dimension was lacking, as most work was for their clients who were big companies upgrading their IT systems. I had the urge to use my skills and time more meaningfully, i.e. have a better life purpose — to help solve world problems.

When Bitcoin came around it was perfect — it was the beginning of a new open financial system that could be used in various ways to reduce poverty and wealth inequality, especially in less-developed regions. So I started SKYBIT with the core goals of using blockchain to help solve socio-economic problems and inclusive advancement of humanity.

Maximising profit is also important in order to be self-sustainable, unlike charity organizations or NGOs which need to rely on donations. So that’s how we are very much a “social enterprise”.

CEO’s Promise

My team and I are passionately committed to SKYBIT’s long-term mission of helping to solve the world’s big problems using technology, especially blockchain.

We’ll be working to increase adoption of crypto across the world, starting in Southeast Asia, so that more people and businesses (not just the crypto community) can benefit from the technology.We envision that crypto will enable everyone to transcend the many boundaries that still exist in this world. We thank you for your support in SKYBIT mission.

Join our telegram group today!

SKYBIT is a Singapore-based fintech social enterprise founded in 2015, that aims to use blockchain technology to provide benefits to society.