3 Sept 2022, 14:06:07
GTH - Ico notes for Token

- ☑ https://www.leapin.eu/faq opening a company in Estonia?
- ☑ Get internal code name for project - need this to sell concept to devs, marketeers and seed investors.
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- ☑ 2 tier token system, 1 private, one later for ICO.
- ☑ Create ERC20 token A for paying contributers. Do it now to help
- ☑ Token A will be technically valueless but on successful ICO each token will be exchanged, on a time scaled, staggered escrow type deal say 20% per year, 5 year release to developers. Engages contributers and controls dumping by contributers.
- ☑ Cost to create $30, cost to transfer low ETH transaction fee. We have to pay to have our ERC20 token transactions processed on the Ethereum blockchain.
- ☑ Token A will have a target exchange value of 1A token = 1 B token = $1, within 5 years? = $100,000,000 mkt cap.
- ☑ Issue 25,000,000 Token A - all to devs and Mike & Mark. Devs get tokens at 10% of $1 value. E.g. a Dev does $10,000 of work, we pay them 100,000 token A. All token A issued in this way is valued at $2,500,000 in total.
- ☑ Target value of all A tokens is $2,500,000, Mike and Mark get 500,000 tokens or more.
- ☑ Create an agreement for dispensing Token A, and honouring future issuance of Token B on a one to one basis.
- ☑ Token B will have an ICO target of raising $7,500,000 and will issue 75,000,000 tokens of a 100,000,000 total hard cap. The other 25,000,000 goes to holders of token A.
- ☑ Allow people to buy token A at 50c - half price early adoption.
- ☑ 75% of token B will be released in the ICO. Minimum is $1,000,000
- ☑ Token B - will only be issued after ICO completes ( don't do a cobinhood) and a 5 year schedule for token A holders (prevent mass dumping).
- ☑ Token A allows and incentivises development and promotion BEFORE the ICO. We can ICO with a working product!!!!!
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- ☑ What does Token B do, it must not act as a security. Look at EOS test of security? Token B must have utility. Currency of the platform, used for tipping, payments and affiliate rewards.
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- ☑ Launch questionnaire asap.
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- ☑ Prepare assets for biz plan and Token B ICO.
- ☑ ## Key targets of company. ## Biz plan. What does it do, why does it do it? Decentralised ( is the big issue, it can't look like we have sole control, the owners of tokens should have voting rights, have a bip type model?) independent, music, that rewards the workers (musicians, promoters, bloggers, investors?). Provides an equitable platform and promotion vehicle for any band, big or small that is tired of not being paid for their hard work. Free up to 1000 musicians and 10000 users.
- ☑ ## Holding structure of company. ## Do we need a Ltd company? Used to deal with banks and actually store real cash assets of the company.
- ☑ ## Key functions of the application and portal. ## This is fundamentally what the solution offers. Band camp style subscription site. Affiliate type marketing system. Sales of merchandise and music for musicians. Promotion of bands and music articles.
- ☑ ## Key assets required to launch company and ICO for Token B. ## biz plan, road map, team, revenue model, revenue prediction, ICO value prediction (why will Token B increase in value),. Communication and PR channels pre ICO - Twitter, slack, telegram, Facebook, forums like bitcoin talk, reddit, steemit.
- ☑ ## Revenue model for system ##. Eventually a subscription. Sales commission, but VERY low commission goes to company. High volume low commission. Promoters (bloggers, group owners, forum owners, social media leaders, YouTube channel owners etc.) can share in commission.
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