Toorcoin — Upcoming Bounty Program & why we are not conducting an ICO
Bounty Program
Toorcoin will be launching its massive Bounty Program in partnership with Bounty0x (https://bounty0x.io) in April where 5.4M tokens (40% of the pre-mine) will be distributed to our community members across a series of campaigns. Individuals can receive thousands in tokens across multiple categories. Our approach behind this thinking is to reward people with a meaningful number of tokens as we build an active, engaged, and vibrant community. Get a head-start now by joining our social media channels below to receive tokens when we launch.
A minimum of 30% tokens will be allocated towards each bounty campaign comprising of two sub-campaigns as listed below. Specific details around token rewards and campaign launch dates will be communicated in another blog post closer to the launch date.
- Marketing & Social Media Campaign
- Individuals will be rewarded for being an active member of our community.
- Categories rewarded in this sub-campaign will include Twitter, Telegram, Reddit, and Medium (hint: examples include joining our groups and inviting friends).
2. Content Campaign
- Individuals will be rewarded for creating content related to Toorcoin and Toorister.
- Categories rewarded in this sub-campaign will include info-graphic and meme/GIF creation, articles, and videos.
In addition to the above, the Toorcoin team will be launching a giveaway contest and rewarding a sizeable amount of 200K+ tokens collectively across two winners. This is our way of instigating excitement and community interest around our project.
Telegram: https://t.me/Toorcoin
Twitter: https://twitter.com/toorcoin
Medium: https://medium.com/toorcoin
Reddit: https://www.reddit.com/r/Toorcoin/
Why we are not doing an ICO
This was a matter of great debate among the founding team and eventually we decided to not opt for an ICO. Instead, we will be conducting a small pre-mine equivalent to 13.5% of the total supply of 100M tokens. This pre-mine will be set aside to fund the development of Toorcoin and Toorister and for operating expenses, marketing activities, and our user bounty program.
While we recognize ICOs are a powerful funding method, their legal framework remains largely undefined; they’re also beginning to sow distrust in the blockchain industry. With a pre-mine, we have more skin in the game to make sure our platform develops and grows. There’s no slacking off after a big payday (as we sometimes see post ICO). We also get paid in our coins. These coins are worthless unless we add utility to Toorcoin and Toorister (which is in our interest). To learn more about Toorcoin and Toorister, refer to our first and second blog posts. Additional details will be shared in our upcoming whitepaper and Toorcoin website.
Happy Tooristing!
