[ANN] Fundraiser Plan
Fundraiser Schedule
Fundraiser Starting Date : 10th of May, 2017 GMT 00:00
Fundraiser Ending Date : 20th of June, 2017 GMT 00:00
Fundraiser Details
- Total Donation Amount : 6,902.342 BTC (276,093,688.786 BOS)
- Minimum Contribution Amount : Minimum of 0.01 BTC per contributor
- Maximum Contribution Amount : Maximum of 300 BTC per contributor
- Contribution Method : Go to BOScoin website, sign-up and login to dashboard, donate bitcoin to address.
- Contribution Reward : For a given contribution, the BOS Platform Foundation provides [pre-genesis BOScoin tokens] at a rate of 40,000 BOS for 1 BTC. The number of [pre-genesis BOScoin tokens] can be viewed in the dashboard.
- Pre-genesis BOScoin tokens : These are the number of BOScoins users will have at the start of the Genesis block. [Pre-genesis BOScoin tokens] are not tradable or sellable.
- Initial Development Funds : The Genesis block will start with 500,000,000 BOS
- Overfunding case : In the case that users contribute more than the set cap, the surplus Bitcoins will be returned to the users. The order in which users are accepted as contributors will be decided by the timestamp for when a transaction is first confirmed.
- Underfunding case : In the case that the Fundraiser does not reach the cap, the project will progress as planned. The unfulfilled BOS will be included in the Commons Budget. (i.e. the Fundraiser raises 276,093,600, the remaining 88 BOS will be added to the commons account)
Preliminary Fundraiser Details
The Preliminary Fundraiser was carried out before the ICO.
- Period : 1st November 2016 to 31th of January 2017
- Participants : 519
- BOS Distributed : 133,906,311.214
- BTC Raised : 2,815.425
- Preliminary Tokens : Preliminary Tokens will also be displayed in the dashboard when the Fundraiser starts alongside additional tokens received during the Fundraiser.
Distributed (Stake)
The Distributed(stake) share of BOScoin tokens that are distributed to the team members and related parties.
- Foundation : The foundation will use the set number of tokens to sustain a stake in the ecosystem and carry out the purpose of the foundation.
- Members : Members who participated in the development of the BOS Platform receive a share of BOS. The reward will be spread so individuals in the future can also receive BOScoin tokens.
- Bounty : Users who participated in the bounty program are are rewarded BOS tokens.
After the Fundraiser
- Proof of Fundraiser Result : After the fundraiser is over, the BOScoin team will move all the funds to one address to prove the total amount of funds raised. After we disclose the amount of funds raised, the Foundation will split the funds into several accounts and convert a proportion of the funds to fiat in order to hedge currency risk.
- BOScoin Wallet : The instructions to create a BOScoin wallet will be sent through email. Please ensure you can access your email. Your email will be crucial in receiving BOScoin tokens from the Genesis block as this is the only information we have about the user.
- Listing on exchanges : After the Genesis block (Further details will continuously be released)
BOScoin Introduction
BOScoin is a self-evolving cryptocurrency platform built on Trust Contracts. Similarly to smart contracts, Trust Contracts are programs that are run on the blockchain meaning they are immutable, transparent, and always live. The aim of BOScoin is make the development and usage of contracts secure for both technical and non-technical users.
For further information regarding the platform, please refer to the whitepaper.
Organizations
The BOScoin Platform consists of many moving parts and each organization has it’s own purpose and role.
- BOS Platform Foundation : A non-profit Swiss foundation which will conduct the fundraiser and contract with agencies like BlockchainOS inc. in order to develop and promote the BOS Platform.
- BlockchainOS inc. : A for-profit company based in South Korea contracted to build the BOS Platform.
BOScoin Token
BOScoins or BOScoin Tokens are the internal currency within the BOS Platform. By participating in the fundraiser, users receive [pre-genesis BOScoin tokens] displayed on our website.
BOScoin Token Usage
BOScoins can be used in the following ways :
- By freezing coins a minimum of 40,000 BOS, users can run a node. Node operators receive freezing rewards, confirmation rewards and transaction fees. Node operators are given one vote.
- BOScoins are used to upload Trust Contracts to the blockchain.
- BOScoins are used to upload Proposals to the blockchain.
BOScoin Token Distribution
40,000 BOS are delivered per BTC. This ratio will be held the same until the end of the ICO. The fundraiser will only receive Bitcoins. The fundraiser will be capped at 276,093,688.786 BOS (6,902.342 BTC).
Milestones BOS Platform
- M0 Demo Day [2017 May 2nd] : Trust Contracts Concept
- Fundraiser [2017 May 10th]
- M1 Alpha [2017 July] : FBA + Trust Contract & Inference Engine based remittances (No incentive system)
- M2 Genesis [2017 October] : Simple Trust Contracts with Inference Engine & Blockchain Explorer (with incentive system)
- M3 Nebula : Proposals and Voting Ontology development and application
- M4 Sirius : Self-evolving chain and SPV Mobile Wallets
Please refer to milestone updates for further details
Disclaimer for Fundraiser Contributors
The BOScoin Milestones may not be completed in the advertised timeline due to unforeseen issues and circumstances.
The BOScoin Platform may not gain significant market adoption due to competition.
A large portion of the voting power may be acquired by high-net-worth individuals during the ICO and may pass proposals that go against the interest of the remaining BOScoin holders.
There may be unintended bugs in the software and theory that cause the project to fail for any number of reasons, but not limited to bugs in the BOS Platform Core, bugs in the OWLchain protocol, bugs in the client or wallet software, etc.
There may be irreconcilable differences among BOScoin holders that cause the BOS Platform project to split(hard-fork) into two or more blockchains. This may cause economic harm for end-users and related services such as crypto-exchanges.
Terms & Conditions of Fundraiser Contribution
Please refer to the below link for detailed terms & conditions.
BOS Platform Foundation Donation and BOS Allocation Terms and Explanatory Notes (Finalizing details)
