Bailsman is a cloud-based security deposit solution that works on Ethereum and KSI blockchain. It is designed for clients who don’t have the ability or will to make a large initial payment and lock up their finances.
Bailsman provides a third party guarantee to the merchant for a small fee that is paid by the client, meaning there is no longer any need to make a security deposit payment and tie up cash. At the same time, Bailsman allows merchants to ask for the needed security deposit amount, free of charge, and without fear of frightening potential clients away.
Bailsman launches its token pre-sale on May 16, 2018, 11:00 AM (GMT) and it lasts until July 1, 11:00 AM (GMT).
Bailsman’s tokens are called BAILS tokens. They are EIP-20 standard-based utility tokens that can be used inside the Bailsman platform:
- As a means of payment for guarantee holding fees with a 5% discount off the service fee. The Bailsman platform will offer two payment options: fiat and BAILS tokens. Paying with BAILS token is 5% lower than paying with fiat.
- As a means of payment for guarantee collateral with a 50% discount off the service fee. This right will be available only if a setted milestone is reached.
- As a means of payment for other services to be provided inside Bailsman’s platform.
BAILS tokens are an essential part of Bailsman’s system — they are always needed in the guarantee providing process.
Token Distribution
51% of BAILS tokens will be sold during the private sale, pre-sale and Token Sale stages. The amount will be calculated upon contributed funds and bonuses.
8% of tokens will be rewarded to Team members and will be frozen for a 6 month period starting from the Token Issue Date.
2% of tokens will be used to reward supporters from the Community and participants of the bounty programs. Part of these tokens will also be awarded through a referral system.
33% of BAILS tokens will be rewarded to the Bailsman Foundation. The main goal is to unlock the security deposit funds back into the economy so people can use their own money in the way they prefer to. Foundation tokens are needed to attract more developers and supporters in the future.
6% of issued tokens will be rewarded to Bailsman’s advisors and partners.
KYC of Token Sale
During the token sale process, Bailsman is using ICOSID, a single user ID verification and authorization tool providing safety and security to users. The service is designed to meet the KYC (Know Your Customer) and Anti Money Laundering (AML) requirements.
ICOSID offers the service in collaboration with SumSub, one of the leading identity verification providers on the market. All information, data, and documents (e.g. photos etc.) submitted by our clients via ICOSID platform for KYC/AML check transferred directly to SumSub. This process as outlined above concerns (KYC checks regarding natural persons). KYC/AML checks for legal entities are carried out by Bailsman as a separate process (either directly or through outsourcing partners).
Main facts about Bailsman Token Pre-sale:
Start date: May 16, 2018, 11:00 AM (GMT)
End date: July 1, 11:00 AM (GMT)
Payment methods: BTC, ETH, BCH, LTC
Token sale volume: limited supply of tokens worth 10,000,000 EUR
Token price: 0.03 EUR
Bonus award: 30% of tokens
If BAILS tokens are bought for more than a value equal to €10,000, an extra bonus of 3% will be added to the bonus.
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