We would like to inform people who follow TE-FOOD, that we have to make some changes regarding our token sale.
Currently, the TE-FOOD project is operated by two companies:
- TE Ltd. is a 2 years old Vietnamese company. Its tasks are the sales in Vietnam, it does the contracting with the government, does project management, manufacturing and logistics of identification tools, training, and customer support.
- Erba Ltd. is a 21 years old Hungarian company. It does all IT development, marketing, and international sales in contract with TE Ltd.
We planned to incorporate all rights and international activities of TE-FOOD to a new company, TE-FOOD International. To provide the maximum security for the token sale contributors, and maintain the credibility of TE-FOOD, we want it to be a separate entity at the time when the token sale starts, which is the owner of all related rights.
However, we see that incorporating this company will not be ready until the originally planned pre-sale (4th of December), so we have to postpone the token sale.
We thought that postponing it to middle December, and interfering with the Christmas period would be a disadvantage, so we have to re-schedule it to January. Since the bounty campaign already started, we did not want significant changes to the original campaign time interval. So we came to the following conclusion:
We reorganize the token sale structure, there will be no separate pre-sale and public sale, we combine them to a public sale.
Public sale start: 08.01.2018
Public sale end: 15.02.2018:
Bonus structure:
Time based bonus:
1st week — 15%
2nd week — 12%
3rd week — 10%
4th-6th weeks — 5%
Additional bonuses based on individual volume:
$100,000 and above — 15%
$20,000 — $99,999–10%
$5,000 — $19,999–5%
Examples:
Contributor A: 1st week + US$100,000 = 30% bonus (15%+15%)
Contributor B: 1st week + US$6,000 = 20% bonus (15%+5%)
Contributor C: 1st week + US$1,000 = 15% bonus (15%+0%)
Contributor D: 2nd week + US$100,000 = 27% bonus (12%+15%)
and so on.
We will implement these changes in the White Paper, Executive Summary, and Token Sale website today.
We look forward to a successful token sale, and a more successful journey!
