The Era of the Completely Legal ICO Begins with POCKETINNS
Initial coin offerings (ICOs) have rapidly transformed the way we invest. The sad thing is that silly, ill-prepared, and even fraudulent players have damaged the reputation of a revolutionary way to fund promising projects. In fact, just today, the ICO known as Munchee was halted by SEC and ordered to give a full refund to all investors.
As an Economist article noted in early 2017, ICOs may contain the seeds of a digital future that’s not dominated by monolithic tech giants.
Indeed, the blockchain — and the tokenization of assets — hold the key to enabling true peer-to-peer digital economies to thrive. That’s our goal at Pocketinns.
That’s why our Initial token offering (ITO) is going to be different. We’re placing trust, transparency, and fairness above all else.
1. We’re doing an ITO
Though most find the two terms, ICO and ITO, interchangeable, we wish to highlight the investor-friendly nature of our fundraising process. Our tokens will hold real value for transactions within the ecosystem.
Called PINNS, these tokens will power our community-driven cryptomarketplace — and ensure users can buy and sell on the decentralized platform without third parties.
2. We’re letting investors determine the price
You’ve seen it before. One coin called “XYZ” equals 0.01 Ethereum. Is that a fair price? Maybe. But maybe not (and that’s scary).
We’re running a Dutch auction. On January 15th, we’ll start with an initial high offering price for our PINNS, lowering the price by increments until sufficient buyers are found. This market-based approach ensures initial investors pay an accurate amount for their PINNS tokens.
Note: The auction will run from January 15th-31st, giving investors 16 days to invest in 30 million PINNS tokens. There will be a hard cap of $46 million. At the end of the auction, all unsold tokens will be destroyed.
3. We won’t offer a pre-sale or bonus
Pump and dump scams plague cryptocurrency markets. It kind of reminds you of Wolf of Wall Street. We don’t need that with ICOs and ITOs.
To show we value our investors and community, we won’t be holding a pre-sale or offering a bonus. Bonuses encourage selling off tokens for quick profits post-ITO.
Our ITO simply won’t run the risk of a pump and dump. Because we’re building something for the long term: A community-driven cryptomarketplace.
4. We’re fully compliant
We’re SEC self regulated (Exempt securities offering under Rule 506c- Accredited investors worldwide only). We are also AML/KYC (Anti-Money Laundering/Know Your Customer) compliant.
We want our investors to know they’re putting their hard-earned money into an ambitious, honest project. That’s why we go the extra mile to ensure shady activities can’t occur in our decentralized ecosystem.
5. Our source code can be viewed on GitHub
Check out our source code repository. We’ve produced more than just a polished whitepaper or fancy website.
For instance, our home accommodations and vacations rental marketplace is already live in Europe. More than 50,000 properties are listed. There are also 0% commissions.
We have code written and we’ve proven Pocketinns can work. More great things are coming.
6. We have an amazing team
Our team and advisors include executives from major companies like Google and Barclay’s and academics with strong backgrounds in engineering and blockchain technology. We were a sponsor of Blockchain Expo North America 2017.
Our founder and CEO, Sarva, had this to say: “Not only does Pocketinns already have a practical application relevant to the blockchain, but it’s also completely legal, stable, and incredibly disruptive.”
