Monetha ICO Week 8… We reveal the ICO hard cap & total token supply, lawyers approve the 1.5% token voucher model, AND we welcome 2 new advisors
Hello Monetha subscribers, and welcome to Monetha’s week in review number eight!
So as we approach our ICO date, there are only 12 days as of today left un until the 31st August.
We want to announce our hard cap. This week we did announce it. This was the news that everybody was waiting for. So the hard cap of Monetha’s ICO is 95,000 ETH. Which at today’s prices equals around 23.5M euros.
We decided to set this reasonable hard cap by doing a lot of research. Both on the ICO market and the fluctuations of ETH value, and we wanted to not make this ICO greedy.
Because we believe that the long term value lies in building the fundamentals of the company, and raising the value of the token. So the maximum amount of tokens is 402,400,000 MTH tokens.
So I just wanted to remind you that the soft cap is 7M euros, and the soft cap discount for early contributors is 20%.
We wrote a blog about this ICO structure in terms of the hard cap, and the maximum amount of tokens. So I recommend you read it on our Medium blog.
Another important piece of news that we released this week on our Medium blog, is our token model structure. So as you probably know, a 1.5% processing fee is our business model, and a third of that goes to our token holders in the form of voucher. Which they will be able to claim and spend at Monetha’s merchants.
This kind of structuring was built to elevate Monetha’s ecosystem and create a network effect. Which will be beneficial for both Monetha and token holders.
Also, we have structured this token model with our lawyers, so it shouldn’t be treated as a security, and we won’t have any problems getting listed on the exchanges.
I would also like to introduce you to two of our new ICO advisors. The first one is Darius. He has experience in Europe on advising ICOs, giving them advice on strategy, token model, and marketing. We’re really happy to have him with his extensive knowledge in ICOs.
The second one, Saber. He’s a well known person in the crypto-community and has advised a lot of ICOs. He has built extensive knowledge in ICO marketing. So we’re happy that these two guys, one who has a big network and big experience in Europe, and another one in Asia, will join Monetha’s advisory board and this will really help on our ICO process.
We’re still 12 days away from our token sale which is going to happen on 31st August, but already we’re getting a lot of attention. Going over 1,000 followers on Twitter, over 2,000 likes on Facebook, and we’re closing in on 2,000 members on Slack.
This attention and the great feedback we’re getting is really overwhelming. We want to thank the community for this positivity that we’re getting. This wouldn’t be possible without you.
Next week we’ll have even more news.
The best way to grab that news is to subscribe to our newsletter, like us on Facebook, follow us on Twitter, or join our Slack or Telegram channels in order to ask us questions. We really take pride in being transparent, and answering those questions in a very fast and extensive manner.
So this was week in review number eight. See you next week, bye bye.