Zero Carbon Project publishes plans to turn ICOs on their head
Zero Carbon Project is postponing their token sale until after this month’s launch of their Zero Carbon Market service and until after attracting customers to the service. In principle we believe that our token economy will be most effective if the demand for ZeroCarbon tokens required to use the Market service exceeds the available supply of tokens.
This is our response to the problem of ICOs producing massive oversupply of tokens relative to the corresponding demand for their tokens. In fact demand remains non-existent for most of their underlying services due to their lack of customers, services and software.
UK Launch of Zero Carbon Market
We are almost ready to launch our Zero Carbon Market this month. Once we have completed testing of the integrated software system we will announce the launch date. Ahead of this Market launch, we will deploy our token economy smart contracts onto the Ethereum blockchain next week, on Tuesday 9th October.
Fund raising plan improvements
We have also improved our fund-raising plans in response to the difficult ICO market conditions. Rather than raising USD20 million by token sale, we plan to raise USD5 million and then, following solid customer growth performance, we will raise the remaining USD15 million by sale of equity.
The plan is to re-launch our private pre-sale in November to raise USD4 million which will be used to launch the Zero Carbon Market in Australia and to to grow the customer base. This will be followed by a USD1 million public token sale using Gibraltar Blockchain Exchange GBX GRID platform. Once we have proved that the Market scales in UK and Australia we will then raise the remaining USD15 million to roll the Zero Carbon Market out globally.
The democratic private pre-sale has now been closed. The purpose was to provide an opportunity for smaller contributors to benefit in higher rewards for earlier riskier contributions. Your contributions will be held in reserve to be refunded, until we have reached our softcap. Thanks to contributors for your support.
Token branding improvements
We had to rename our Energis token to ZeroCarbon tokens following receipt of a trademark infringement notice from a German energy supply business. However, this change provides us with the benefit of focusing on building one unified ‘Zero Carbon’ brand name.
Token economy improvements
We are excited to announce that we are turning ICOs on their head. We have designed our token economy to initially create an over-demand of tokens, in contrast to the over-supply of tokens following ICOs. We have introduced the following measures to achieve this aim:
1. Placed 35% of total ZeroCarbon tokens into a vesting smart contract linked to the distribution of token rewards to a growing consumer base. These tokens include allocations to Beond, the team, partners and for contributors to the upcoming private pre-sale.
2. Topped up the consumer reward pool to 61% with 75 million more tokens. These were the tokens freed up by switching the USD15 million token sale to an equity sale.
3. 4% of token allocation will be released after the public token sale, for contributors to public token sale and to partners.
4. Introduce a liquidity reserve of 1m tokens or 0.4% to supply tokens to meet the initial token demand arising from the need to pay transaction fees arising from our October Market launch. These ZeroCarbon tokens will be offered across EtherDelta DEX at USD0.50 per token.
5. Only 120,000 ZeroCarbon tokens are currently in available as circulating supply in the token economy. They are owned by contributors to the now completed democratic private pre-sale.
Finally, we have introduced a token burn of up to 2.5% of transaction fees received, based on 25% of profits earned.
Roadmap changes
In line with the revised fundraising approach and timing, we have refined our roadmap plan. Following this month’s UK Market launch we are aiming to build our customer base to 10,000 by leveraging our generous referrals rewards programme.
We aim to use this as evidence of customer adoption to support our token sale.
After completing our token sale we will use the proceeds to launch the Zero Carbon Market in Australia; and to fund marketing with an aim to grow the UK and Australian Markets to 100,000 customers.
Once we have demonstrated this level of scaling we plan to raise the remaining USD15 million with a sale of equity. These funds will support a global roll-out and rapid customer acquisition.
Boosted consumer rewards
We have boosted consumer rewards, with a particular focus on rewarding early adopters for spreading the word, using our referral rewards programme. We more than doubled the size of tokens allocated to the consumer reward pool and we have accelerated the distribution in favour of early adopters and referrals. We have made the following improvements:
1. Increase referral bonus rewards to 6x normal consumption rewards shared between introducer and new consumer, up from 2x, but this multiple decreases at 20%/year
2. Extend consumption rewards from current 10-year period to be ongoing
3. Consolidate maximum bonus rewards to 250 million tokens across all bonus rewards (registration, first purchase and referral multipliers)
4. No referral bonus rewards or first purchase bonus rewards for buying carbon credits
5. Unallocated token reserve of up to 20 million tokens may be used to attract the initial 10,000 customers
Energy suppliers are currently in the market seeking available ZeroCarbon tokens in order to pay their transaction fees arising from our trial customer transactions. Zero Carbon Project will start selling ZeroCarbon tokens from their liquidity reserve. These tokens will be offered across EtherDelta at USD0.50/token.
Our latest White Paper has been published along with the supporting documentation and website at www.zerocarbonproject.com . Section 22 of the White Paper provides further details on our improvement plans.
LINKS
Website: http://www.zerocarbonproject.com
Telegram Announcement channel https://t.me/ZeroCarbonAnnouncements
Medium blog: https://medium.com/zero-carbon-project
Bitcointalk: https://bitcointalk.org/index.php?topic=3396140.0
YouTube: http://www.youtube.com/channel/UCILwm1XKqdCe507-x3cUArA
LinkedIN: https://www.linkedin.com/company/zerocarbonproject/
Twitter: https://twitter.com/ZeroCarbonPrjct
Instagram: https://www.instagram.com/zerocarbonproject/
Facebook: https://www.facebook.com/Zero-Carbon-Project-1994928630745331/
Whitepaper: www.zerocarbonproject.com/white-paper/
Community Rewards: t.me/zerocarbonbounty
Project invented by: www.beondgroup.com
