Global Messaging Token: Launch Event

Key Points

  • Launch begins on October 25th
  • You MUST register to participate (opens 10/10/17)
  • Targeting $24 million USD for 60% of token supply
  • Fixed supply of 1 billion tokens
  • No presale or discounts

Every time you send a text message, post a photo, or send a snap, you are being tracked. Social media companies like Facebook, Twitter, and Snapchat are taking your data, studying you, and then profiting off of you by selling your personal information to other companies that want to advertise to you.

Let’s change that.

By building a tokenized social ecosystem on the Ethereum blockchain, applications can leverage tokens to incentivize meaningful interactions while users can utilize them to gain access to premium services.

The Global Messaging Token (GMT)

Global Messaging Token is an ERC20 utility token built on Ethereum. When applications build on the Mercury Protocol, they can charge GMT for premium services or award it to active users for positive participation.

What premium services are provided is up to the application developer and the user market. Our goal is not to govern the direction of services or application development, but to provide the foundation for an ecosystem that doesn’t rely on the monetization of user data to sustain itself.

We strongly recommend applications devote most of their received GMT to be awarded to users taking meaningful actions specific to the application. This creates a self-sustaining token ecosystem that rewards both users (for participating) and development teams (for providing services).

The Launch Event

  • Starts on Wednesday, October 25th around 9:45 PDT
  • Looking to raise $24 million USD for 60% of token supply
  • No pre-sale and no discounts
  • ETH will be only currency accepted

The launch event will continue for 30 days or until the hard cap of $24 million USD is reached. We have a minimum cap of 100,000,000 tokens (10%, ~$4 million USD). If we don’t reach the minimum cap after 30 days, all ETH will be returned to registered participants holding a GMT balance.

After the launch concludes, GMT will provide immediate utility value in Dust.

Token Distribution

A fixed supply of 1 billion tokens will be generated, and no more will ever be created. They will be distributed as follows:

GMT Allocation

Launch Participants (50%)

500,000,000 tokens will be made available for registered participants to purchase for ETH. There will be an individual cap for the first 12 hours of the token launch event. In the first 8 hours, all public participants are subject to an individual cap of: Total Public Cap ($20M) / # approved registrants. The next 4 hours, cap will be increased by 4x. After the first 12 hours, individual caps will removed completely for the rest of the sale period. Additional details on sale terms and individual cap can be found here.

User Growth Pool (20%)

200,000,000 tokens will remain under our control in a pool for awarding users for performing incentivized actions. This pool is intended to be use to promote adoption of Mercury integrated applications and reward positive participation as determined by those specific apps.

Mercury Development Team and Advisors (12.5%)

125,000,000 tokens will be given to the Mercury Protocol core development team and advisors. These tokens will be in lock-up for 6 months.

Accredited Individuals and Institutions (10%)

100,000,000 tokens will be reserved for accredited individuals and institutions to receive delivery of tokens at the end of the sale.

Application Developers (7.5%)

75,000,000 tokens will be held to be awarded to application development teams on a case-by-case basis. We intend to grant tokens from this pool to developers building applications that showcase the potential and vision of the Mercury Protocol.

Participants

Anyone who wants to participate can register for the launch event on our website starting on October 10th. On the day of the launch, registered participants who send ETH to the GMT contract will immediately receive their tokens. DO NOT send ETH to the address if you have not registered. Participants who register before the launch event starts will be able to immediately participate. Registering after the start of the event will incur a waiting period of up to 24 hours.

Prohibited Participants

Due to government regulation, people in New York, China, South Korea, North Korea, Iran, Syria, Cuba, and the Crimea region will not be permitted to participate.

Other Information

Fluid information such as GMT contract address, token pricing, ETH conversion rate, and Ethereum starting block number will be provided in the week before the launch event.

Additional launch event information can be found in the FAQ page on our website. If we didn’t answer your question, you can email us at info@mercuryprotocol.com or ask in our slack channel.

TL;DR

Register to participate in our token launch event if you want to help us build a better social network (registration opens Oct. 10th).

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Learn more about the Mercury Protocol
Read the Mercury Protocol whitepaper