Join the TEAM: 10 News from TokenStars
Congratulations! We’re finally here. ACE token sale is coming to the end and we’d like to make several announcements and answer all the burning questions. When will I get my tokens? What about the exchanges? Next verticals? How can I convert ACE tokens?
1. How can I get my ACE tokens?
We’ll be issuing tokens in weekly batches to everyone who successfully passes the KYC procedure. Starting on November 7th — November 14th — November 21st — and (if anyone’s left) November 28th.
2. What is KYC?
The ‘know your client’ procedure takes only 5 minutes and it is required by the banks and exchanges. As our token sale agreement did not allow for US citizens and other restricted persons to participate in the sale, the KYC procedure allows to verify citizenship and make sure the token holders comply with those rules.
All the files are stored confidentially on Amazon servers. You need to upload your passport (or other government issued ID) and a 2nd document, verifying your current place of residence. There is a detailed description of the process in your personal dashboard.
Once the documents are uploaded, we verify them, confirm (or ask for additional clarification) and approve the token issue to the ERC-20 wallets, you’ll specify in the dashboard. As simple as that.
3. ACE on exchanges
We’ve started talking to several exchanges (two out of the top-10 exchanges by volume) and expect news in the next 3–4 weeks. Please stay patient. It is easy to get listed on some low-quality exchange with no liquidity and shady rules, but we all don’t need this.
Subscribe to the Telegram group to be among the first to know.
4. Converting ACE token
As promised, ACE tokens might be converted in your Dashboard into other verticals’ tokens with 40% one-time bonus. Conversion only works in 1 direction (ACE into TEAM only, not vice versa), and you can only convert all ACE tokens you have at once, between October 27th and November 27th. Conversion is only available BEFORE you transfer ACE tokens to your personal wallet.
5. Next verticals — ALL TOGETHER — TEAM token
Over the course of August, September and October, we’ve personally met or had phone calls with several Olympic champions, world champions, coaches and agents. We’re incredibly grateful for all the advice we’ve received. On multiple occasions we’ve heard the question ‘Why do you separate different kinds of sport into different verticals and use different tokens?’
Both approaches are viable and have their PROs and CONs.
We’ve considered all arguments and decided to go with the 1 TEAM token.
6. Why is ACE not included into TEAM
Things are going well with the tennis vertical. We receive more and more players’ applications, we get better agency name recognition among the leading tennis players. The number one rule of the system administrator is not to touch something if it is working.
Additionally, every token holder accepted the ACE token sale agreement and bought ACE token (a digital good, crypto access key). We can’t (and we won’t) replace one digital good with another one without community and ACE token holders’ consent. Our promises matter.
If a token holder wants to exchange ACE token into TEAM with 40% bonus, they are more than welcome to do so in the Dashboard before transferring ACE to ERC-20 wallets.
7. How is ACE token sale going
There are still a couple days to go with the token sale, but we can announce the preliminary results.
As you remember, for security reasons every token buyer received an individual payment address (created by the CoinPayments POS processor). Token sale proceeds are currently consolidated into the cold storages with the following addresses: https://blockchain.info/address/3F7gofQYuwundAqCHxiA5oPxT3iNUtR2Yx
In addition to that, we’ve sold 90 BTC worth of ACE tokens via the ICOBox platform.
So, the final amount will equal funds collected in BTC, plus funds collected in ETH, plus funds sold via resellers, minus KYC (rejected transactions).
As of 11 am CET October, 30 the amount equals $4,928,107. The number will fluctuate, depending on the currency exchange rates.
8. What are your plans going forward with TEAM token
We are talking to dozens of football, poker, eSports and hockey players, managers and agents. The goal is to form an Advisory board of globally respected experts.
Our technology team is working on the web interfaces and smart contracts for the platform.
Our marketing team is in talks about local sports media partnerships (similar to Sports.ru model).
The closed pre-sale will start in about a week. The date of the token sale will be announced later in November.
9. What about the STAR token
We’re still keeping secret the details about the STAR token. We can only tell that it is designed for globally recognizable celebrities (movie stars, musicians whose name rings a bell from Tokyo to Paris) and that we’re in negotiations with a good number of such stars. Stay tuned!
10. Fun with flags
In the meantime, we are preparing some statistics about the token holders geographical distribution, average purchases and other interesting data.
Meet our big spenders— the highest average purchases were coming from China and Ukraine.
And here are our careful savers — Nigeria and Brazil showed the lowest average purchases. Fun fact — the average ACE token purchase in China was more than 20x higher than in Nigeria.
How about payment methods? Looks like a lot of BTC fans in Nigeria, Indonesia, Malaysia, Morocco, and India…
Meanwhile, over 90% of payments in Thailand, Ukraine, Hong Kong, China, and Switzerland were made in ETH.