Zero Carbon Project deploys private pre-sale smart contract to raise funds
The private pre-sale follows a successful launch of the UK Zero Carbon Market and the ZeroCarbon token economy. In the first month we have attracted 1800 registered energy consumers, 32 UK energy suppliers and the most competitive zero carbon energy supplier in Australia.
Private pre-sale details
The private pre-sale smart contract will be deployed on 22-Nov-18 at noon.
We are aiming to raise US$4,000,000 by offering 20,000,000 ZeroCarbon tokens at 650 tokens / ETH. This is based on an ETH/USD exchange rate of US$130 sourced from https://www.coindesk.com/price/ethereum on 20-Nov-18 at noon, following the procedures outlined in the Whitepaper.
We are offering a 50% token bonus for the first 10,000,000 tokens purchased and a 25% bonus for the remaining 10,000,000 tokens.
All tokens purchased will be locked in escrow along with those owned by the Project initiator Beond, their team members and partners. These will be released as the Project reaches customer growth milestones, specifically linked to distributed token rewards. Note that some partner tokens and tokens sold in the public sale will be released after the public token sale.
There is a minimum contribution of 150 ETH based on US$20,000. Contributors will need to be accredited investors and will need to pass our KYC/AML checks which will remain open during the token sale. Contributions will need to be in ether paid into our smart contract.
Community members preferring smaller contributions have been accommodated by a very generous ZeroCarbon token rewards scheme from which tokens can be earned by contributing to the Project as an early adopter customer or by spreading the word.
You can see more token sale details and apply for KYC at https://www.zerocarbonproject.com/token-sale/
Change of plans in line with decentralisation vision
We have decided to drop our plan to raise additional funds by the sale of equity due to the risk of shareholders compromising our vision of achieving decentralisation using utility tokens. Also, our UK Market launch results provide us with confidence that we can achieve our global Zero Carbon Market roll-out plans from the token sale raising. The compromise will be less marketing budget and therefore slower customer acquisition, which we prefer to prioritise behind our decentralisation vision.
Token sale progress to date
Prior to launching our UK Zero Carbon Market and token economy last month, we ran a ‘Democratic private pre-sale’ fund raising campaign. This involved a lower minimum contribution to provide smaller contributors access to bonuses and discounts in return for assuming early stage risks.
We paused this token sale to launch our Market. At the same time, we took stock of ICO market developments and designed a more innovative token economy and token sale proposal. Our new design solved ICOs’ main problem of creating a massive oversupply of tokens, relative to zero demand for the utility backing their tokens due to lack of systems, services and customers.
ZeroCarbon token economy
We enhanced the design of our token economy by throttling the supply of tokens which now grows in response to and following an increasing demand for our tokens. This was announced on 5th October here https://medium.com/zero-carbon-project/zero-carbon-project-publishes-plans-to-turn-icos-on-their-head-2178b158bf62
We currently have an economy scenario where energy suppliers are now demanding tokens across Etherdelta and IDEX in order to pay their transaction fees for winning business across our Market. Zero Carbon Project is satisfying this demand by selling tokens at US$0.30 out of a small liquidity reserve which has been set up solely for this purpose. You can view market here https://idex.market/eth/zcc
The growing customer base and transactions creating this internal token demand also trigger an increasing supply by distributing token rewards to consumers. Consumers can then either hold onto the tokens or sell them to energy suppliers or other purchasers. See reward scheme here https://medium.com/zero-carbon-project/zero-carbon-project-improves-reward-scheme-from-trial-period-insights-be6120c03cd3
Join the Zero Carbon Project
To register with Zero Carbon Project and earn income for helping tackle climate change click on this link to ensure you receive your referral reward bonus https://market.zerocarbonproject.com/register/tEOmK55D