Token Distribution Simplified

Published in

Ellcrys

2 min readJan 6, 2018

In this article, I hope to give a clear breakdown of the ELL token, when it will be distributed and available on exchanges.

Token

The Ellcrys token is known as Ell (plural “Ellies”). Its symbol is “ELL” and there will be a total supply of 10 billion. It is an 8 decimal tokens which will be distributed on the Ethereum blockchain based on the ERC20 standard pending the time when the main network is launched. The ERC20 contract will contain a function that will allow holders to register a swap intent for the main network coins. The ERC20 tokens will be swapped on a 1:1 ratio. The date of this swap event will be announced.

Token Distribution

As stated above, there will be a total supply of 10 billion tokens. They are distributed as follows:

Ellcrys: 35%
Bounty, Marketing & Incentives: 5%
Public Sale: 20%
Mining (via StackMint): 20%
Universal Node Reward: 20%

Tokens allocated to Ellcrys will vest for 5 years with a 1 year cliff. This means, Ellcrys will get no allocation in the first year and 20% of allocation in the second, third, fourth, fifth and sixth years. Vesting will be enforced by smart contracts and trustees.

The public sale is subdivided into 3 rounds or events — Private, Pre-Sale & ICO. The private sale is open to our investors, partners and community members willing to accept a 6 month lock on their tokens. The Pre-Sale and ICO are open to all and carries no lock time.

Mining and Universal Node Rewards are allocated to miners and StackMint offline validators.

ERC20 Distribution

It is important to note that not all 10 billion tokens will be created in the token smart contract. Only the supply meant for the public, bounty and marketing are provided for. That is 25% of the total supply — 2,500,000,000 billion. No tokens will be allocated to the Ellcrys organization. The organization will get its allocation when the network is launched. Mining & UNR are components of a working network and as such they will not be accounted for in the contract.

Distribution Event

Token distribution will begin in May 2018 right after a mandatory smart contract audit. Token sale and bounty participants will receive their tokens on their registered Ethereum addresses. Private sale participants will not be receiving their tokens until after 6 months, starting from the day ELL is listed on at least one recognised exchange.

Exchange Listing

We are currently putting every thing in place to ensure we have no hassle during interactions with multiple exchanges. Further information will be announced after the ICO.

Please feel free to send a mail to hello [at] ellcrys.co if you have more questions.