Congratulations! We’re finally here. TEAM 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 platform modules?
1. Token Distribution
We are glad to announce the results of the TEAM token sale.
Total supply equals 17 818 682 TEAM tokens, partially distributed to our contributors, publishers and bounty community, as well as reserved for the network growth and team & advisors motivation.
No more TEAM tokens will be created. Ever.
As planned, tokens will be unlocked March, 29. More details are available below.
2. How can I get my TEAM tokens?
2.1. Guide to get tokens
Please take a look at this detailed guide.
Since early March we have started issuing tokens in weekly batches to everyone who successfully passed the KYC procedure.
Since the end of the token sale the token distribution will be held bi-weekly — April, 11 — April, 25 etc.
2.2. How to pass the KYC?
1182 token holders have already successfully completed the KYC procedure.
The ‘know your client’ procedure takes only 5 minutes and it is required by the banks and exchanges.
To complete KYC go to the Profile section of your personal account.
You need to upload your passport (or other government issued ID) and a second document, verifying your current place of residence. There is a detailed description of the process in your personal dashboard. All the files are stored confidentially on Amazon servers.
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.
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.
3. Listing TEAM on Exchanges
3.1. OKEX as an Option
Our first token ACE was listed on OKEX. In his recent AMA video Pavel talks in detail about the pros and cons of listing TEAM on OKEX.
In January, the price for ten thousand ACE tokens reached 1.49 bitcoins, which are equivalent to 20,000 dollars. Even without taking bonuses into the account, this would give ACE token holders 49% return in bitcoins and approximately 400% return in US dollars from the actual time of purchase.
Starting from the mid of January, all the cryptocurrencies started to fall following the drop of the bitcoin. Market conditions are the main reason for the fall.
In late March the price sky-rocketed to almost 200% in a day. This is the reality of volatile crypto markets. We don’t know the exact reason for the sudden raise, it might be the expected correlation between 2 tokens (TEAM and ACE) after listing and the desire of some traders to buy a large volume of ACE relatively cheap.
3.2. Large Centralized Exchange
If the market is bullish it makes sense to start listing from the large exchange.
We’ve started talking to several Korean exchanges (as we’ve seen huge interest from Korean audience during the token sale) and we 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 that is not the goal.
Subscribe to the Telegram group to be among the first to know.
3.3. Lower Liquidity Exchanges
However, if the market stays bearish, it makes sense to start listing from the mid-size exchange, gradually grow the trading volume and then list on the large exchange. Several open options exist, but this decision is yet to be made.
3.4. Decentralized Exchanges
In the meanwhile, we might list TEAM token on decentralized exchanges like EtherDelta or ForkDelta and some of the contributors may want to test liquidity at this trading platform.
ForkDelta is an EtherDelta fork. It is an open-source and decentralized exchange for Ethereum-based tokens. It provides an interface to trade ETH based tokens for a very low fee.
- Over 110 token trading pairs.
- $1 million of average trading volume per day.
4.1. AMA with CEO Pavel Stukolov
In this 18-minute long video Pavel covers a lot of questions about the exchanges, the platform modules, token demand etc.
4.2. AMA with Advisors
5. Platform Ongoing Development
5.1. Auctions Module Becomes More Popular
The Charity Auction started before Christmas and is still active. It allows bidding for celebrity items in ACE and TEAM tokens. All proceeds go to various charities. Have a look at the website.
- 236 participants made bids
- 18 different lots from the celebrities
- The highest winning bid was $987 (0.81 ETH for Martina Hingis Wimbledon T-Shirt, at the time of the auction close).
5.2. Voting Module Launches
In addition to Auctions module which was launched in 2017, we’ve launched the Voting module.
At the moment, three questions are offered to the community. The votes are calculated proportionately to the number of tokens held in the wallet.
5.3. Other IT Activity
It is hard to objectively measure developers’ activity in anything other than released functionality, however some indicators are better than none.
ACE Commits — 24, TEAM Commits — 39, Charity Commits — 25, Token Distribution Commits — 29. ACE Solidity Code lines — 1251, TEAM Solidity Code lines — 381, Charity Solidity Code lines — 1018, Voting Solidity Code lines — 264.
6. Celebrities and Partnerships
We’ve managed to gather an exceptional advisory board of world-renowned athletes and show business stars: Redfoo (LMFAO), world champions Lothar Matthaus and Gianluca Zambrotta, NHL star Nikita Kucherov, Tommy Haas, Robin Soderling, Cedric Pioline, Alexander Anter, Anastasia Myskina, Valery Karpin, Tommy Haas, Rico Torres.
Many other crypto- and sport celebrities participated in the blockchain auction: crypto billionaire Roger Ver, crypto guru Vinny Langham, tennis legend Martina Hingis, Olympic champion Tarjei Boe, Pavel Datsyuk, Sergei Fedorov.
6.2. AidCoin Partnership
We’ve signed a partnership deal with blockchain project AidCoin, that raised 14,433 ETH (>$20 mln in January). AidCoin is a project developing the ERC20 token that aims to become the preferred method to donate transparently through the Ethereum blockchain and to access the ecosystem of services provided by the AIDChain platform set to release in beta in April. It is supported by CharityStars, the auction platform for charitable fundraising and the first external platform to accept payments in AidCoin.
7. How is TEAM token sale going
The KYC, token distribution and settlements with resellers are still in process, but we can announce the preliminary results.
As of March, 28 the total amount equals $4,792,666. We have accepted payments in 6 cryptocurrencies (BTC, ETH, BCH, ACE, NEO, LTC). The crypto markets were volatile during the sale — we calculated the preliminary results based on the average exchange rates during this period.
This number will fluctuate, depending on the currency exchange rates. The final amount will be determined only after all the contributors pass the KYC procedure (minus rejected users) and settlements with the resellers.
8. What are your plans going forward with TEAM token
8.1. New Athletes
We are close to signing the new contracts with aspiring sports stars (top-150 in global rankings).
8.2. Testing 3 Business Hypotheses
Fundamentally (systematically and for a longer period of time, not as a temporary peak), the token price can increase only if the tokens are frequently and in large volumes used on the platform. When that happens strong demand for the token is created. We understand this fundamental principle and it’s our highest priority to build such an ecosystem.
As a startup we have to focus on the ‘North star’, move towards it as fast as possible and ignore all the rest. That is exactly what we’re doing. Our North star is the volume of tokens spent daily on the platform. We have 3 hypotheses on what levers to grow this metric.
So, the team is focused on developing and testing three hypotheses to increase the demand for the token. We’ve already mentioned the key modules which we want to launch (voting, advertisers, betting.) and several business directions that we want to follow (advertising, celebrity, betting).
8.3. Launching New Modules
Our technology team is working on the web interfaces and smart contracts for the new platform modules.
Right now, we’re actively exploring the opportunities of the sports betting module, looking at the commissions, arbitrage opportunities, APIs for existing players, empty niches, user acquisition costs, community wisdom mechanisms, betting syndicates, possibility for pooling the bets. We’ve raised this modules’ priority in the roadmap. We hope to share the details with you soon.
9. Media Attention
TokenStars was featured in 101 media publications from 11 countries (USA, China, Japan, Russia, France, Great Britain, Cyprus, Belarus, Ukraine, Azerbaijan, Saint Kitts and Nevis).
Have a look at CoinTelegraph, and selected Chinese and Japanese articles.
10. Community Growth
Telegram community grew 17,2 times during TEAM token sale — up to 20406 people
1650 bounty participants
7.5 messages per active user
0.89 average messages per user
Answered 6114 questions in public
1000+ Intercom dialogues
2644 messages in BitcoinTalk
83 questions for AMA sessions with advisors
3 minutes for response KPI for our community managers (wow!)
Bonus: Fun with Flags
In the meantime, we are announcing 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 Korea, China and Japan.
And here are our careful savers — UK, Italy and France showed the lowest average purchases. Fun fact:the average TEAM token purchase in Korea was more than 46x higher than in Ireland.
How about payment methods? Looks like a lot of BTC fans in Singapore, China and Latvia.
Meanwhile, over 96% of payments in Turkey were made in ETH.