ZrCoin ICO — timeline and details
The month-long crowdsale will launch on 11 May, seeking to collect a minimum of $3.5 million.
ZrCoin is crowdfunding investment for the construction of a state-of-the-art facility that will manufacture synthetic zirconium dioxide (ZrO2), a key industrial commodity in high demand as a refractory material, especially in the manufacture of ceramics and nuclear reactors. The factory will use an environmentally-friendly process to recover zirconium from industrial wastes rather than extracting it from the earth. The result is not only more ecologically sound, but also more cost-effective and of higher quality than existing forms of zirconium.
Schedule. ZrCoin’s crowdsale will start at 00:01 UTC on 11 May and last for one month, ending at 23:59 UTC on 09 June.
Bonus structure. ZrCoins will be sold at a discount to the market price of ZrO2, and will gradually rise in price over the course of the crowdsale. The discount will start at 50% ($1.40), falling to 44.5% ($1.55) by the end:
· Day 1: $1.40
· Day 2: $1.44
· Day 3: $1.46
· Day 4: $1.47
· Days 5–6: $1.48
· Days 7–13: $1.50
· Days 14–20: $1.53
· Days 21–26: $1.54
· Days 27–30: $1.55
Currencies. ZrCoin’s crowdsale will accept BTC, ETH, ETC, LTC, WAVES and USD.
Token supply. The total supply of ZrCoins will depend on the amount of funding committed at crowdsale. (E.g. if $4 million is raised and all tokens are bought at $1.40, there will be 2.86 million ZrCoin tokens.)
Platform. ZrCoin will be created as a token on the Waves platform. Distribution to investors will take place following a thorough audit after the crowdsale ends.
Escrow. All funds will be held in escrow, using two-of-three multi-sig wallets wherever possible. A list of escrow partners can be found on the ZrCoin website.
Funding targets. ZrCoin aims to raise a minimum of $3.5 million USD. The crowdsale will be capped at $7 million, which would give the company enough funding to build two factories.
ROI. ZrCoin will start buying back tokens at the market rate for ZrO2 — approximately $2.80 — around 8 months after the ICO ends. In the meantime, tokens can be traded on supporting exchanges.