BLOCKv: The TGE (Token Generation Event) Explained
BLOCKv is excited to be one of the pioneers of emerging tokenized business models. Our network token the VEE is the fuel for the ecosystem and will enable all network participants to be actively involved in the promotion and spread of vAtoms across the world. After reviewing multiple token sale structures and going far down the road with a few, we have finally created a structure that ensures that tokens are priced based on market sentiment and valuation from the outset. This is necessary for the health of our platform, our token-based ecosystem, and the benefit of our Token Generation Event participants.
When we first envisioned the BLOCKv token sale, we anticipated that it would be the first one in a series of token sale events. Upon careful consideration, however, we decided that for the long-term health of our platform and for the most effective proliferation of our technology, it would be wiser to launch an all-encompassing Token Generation Event, which would distribute all the tokens we had reserved for this token sale, as well as future ones.
An important aspect of our model is to lock up a portion of the tokens for the long-term. In line with this, we have reserved 15% of the tokens we are generating for future use. These tokens will remain inaccessible for as long as 6 years, with some vesting starting at year 3. Nobody can predict what the world will look like six years for now. We have the utmost trust in our product and we anticipate to see its proliferation over the years. Should the need arise to release more tokens in the long term or to rapidly accelerate the future growth, we will be prepared.
Overview of the BLOCKv Token Distribution Model:
35% of tokens will be sold to the public in the TGE
15% will be locked into a 6 year smart contract to fuel innovation in the ecosystem in the future.
25% will be allocated to incentivize the developer community and ecosystem partners
25% will be held by the company for team, advisors, and early contributors
BLOCKv Token Sale Dates:
The BLOCKv token pre-sale will open on the 18th of September, 2017 and will run until the 15th of October, 2017, or until the pre-sale cap of $20 million is reached.
The main sale will take place on October 19th, 2017 and will run until the 23rd of October, 2017 or until the the $20 million main sale cap has been reached.
Details of the BLOCKv Token Sale:
The BLOCKv Token Generation Event (TGE) will be separated into two parts, each with its separate cap. The total amount of tokens released during the Token Generation Event will equal 35% of the total supply of V. These tokens will be available for purchase during the pre-sale (for qualifying contributors) and main sale. There will be a $20 million cap for the pre-sale and $20 million cap for the main sale.
The pre-sale contributors will receive up to a 20% discount on the final price of V and will be guaranteed an allocation in the sale. The final price per token, as well as the number of tokens released for the pre-sale, will be determined by the main sale. The total number of tokens released during both the main sale and pre-sale events will add up to 35% of the total supply of V.
During the main sale event, 1 billion V will be released for sale to the public. The sale will continue for 5 days, with a hard cap of $20 million. The final price per token will depend on the total sum raised in the main sale, with a maximum price of $0.02 per token.
The fact that the V sale is capped at $40 million for 35% gives our participants certainty that the end valuation will not exceed $115 million and potentially less if main sale and pre-sale do not meet caps. Although we believe in the disruptive capacities of BLOCKv, our long-term strategy implies that we should be realistic in our expected valuations and therefore in the sums we raise during our TGE.
Once the final price per token is determined by the main sale, the presale tokens will be calculated and final allocation will occur.
We are very excited for you to join us on this journey and thankful for your support in bringing vAtoms to the world.