FREQUENTLY ASKED QUESTIONS
The world's first "sell now, innovate later" ICO, powered purely by GREED.
An initial token sale will be conducted with a very generous bonus scheme, in fact the world's highest ICO bonus (up to 1000x bonus), and
there will be airdrops, every month for 5 months, of 35% of whatever balance token holders have (See Token Sale Terms).
This will make token holders hold on to their tokens thus preventing dumping and will stimulate interest in the token.
Product suggestions for the token will also be solicited from the crypto community and will be voted upon by token holders. After the product is determined, a team for
the project will be solicited also from the community, recruited and finalised.
Then, a second and a more formal token sale will be conducted with whitepaper, MVP, and a strong team to develop the product.
Thereby, increasing the token price further.
Being a jobless and soon-to-be homeless developer, doing this ICO is like shooting two birds in one stone. I will be able to solicit
enough money for my mortgage and become employed again by establishing my own company!
I don't want to reveal my identity yet because I also have a reputation to protect. I don't want my family, friends and former colleagues to know that
I'm basically begging, because eventhough I am currently down, I would like to prove that I am still capable of doing great things.
Once the intial token sale is successful, I will reveal my identity.
By the way, I am a BS Mathematics, cum laude, with many years of development experience in payments and finance. But due to unforeseen circumstances,
I am now jobless and soon-to-be homeless, if I don't get to pay my mortgage.
So, please help both me and my token get a place we can call home before Christmas. If you are not feeling charitable, you can still help out by being greedy.
Based on the token sale terms, I can only raise around 400-700 ETHs because of the big bonuses I am giving away.
I am not a greedy person by nature, I am just a needy one. As I mentioned before, part of it will go to my
mortgage payment. But most of it will be used to run a second and more decent token sale with all the bells and
whistles once a product has been chosen.
If Useless Ethereum Token (UET) succeeded with nothing, nothing is impossible. I believe I am giving GREED token holders a better deal,
in fact better than all other ICO scams out there.
Unlike UET's price which is now almost useless after 4 months, I am anticipating stable increase in token price because
GREED token holders will hold on to their tokens for the coming airdrops and even after the airdrops because by then the
token will already have a product and a team. Imagine, a token, with no product and with near zero value later having a viable
product on top of it, is definitely a good buy. If the initial token sale succeeds, the second token sale will also definitely succeed.
Of course I definitely I will be listing GREED token in major exchanges, after the token sale. Otherwise my founder's share value will be nothing after a year (See Vesting Schedule).
Since there's no product yet for the initial ICO, there will be no whitepaper. But after the winning product is announced, white paper of the product
will be produced immediately afterwards. (See Roadmap)
Initially it's just me just relying on the power of greed and, ironically, charity. Additional founders, team members, and advisors
will be recruited after the first ICO sale, right after a product is selected.
It's the Orange Lantern Power Ring (in Green Lantern DC Comics) powered by the greed of whoever use it, rotated 61% degrees clockwise
to form a centered G-shaped (as in greed) Pacman (another symbol of greed). moving onwards and upwards.
Token Sale Terms
Total token supply is 3.14 Billion, with the following breakdown:
- 10% Initial Token Sale
- 35% Airdrops (Airdrops of 35% for 5 consecutive months)
- 40% Future Product Token Sale
- 5% Bounty/Community Pool
- 8% Future Founders/Advisor Share
- 2% Founder's Share
314 Million GREEDs will be available for purchase at the initial token sale on an easy to remember date. Sale starts on 2017/11/11 @ 11:11:11 am (UTC) and ends 2017/12/12 @ 12:12:12 pm (UTC) or until all GREED tokens are sold, whichever comes first. All unsold tokens will be sent and added to Second Token Sale Beneficiary Address (See Vesting Schedule). Purchase method is ETH only.
For every 1 ETH you contribute at the GREED token contract address 0xbc9395973bd35a3b4bd924f050d2778c07506ecb, you'll receive 700 GREEDS. And if you contribute at least 0.05 ETH, the number of tokens will be multiplied by the current bonus multiplier. Bonus multiplier starts at 1000 and will be reduced by the total number of ETHs contributed as illustrated below:
|#||ETHs Sent||x||GREEDs/ETH||x||Bonus (1000 - Total ETHs Contributed)||=||GREEDs Received|
|1||2||x||700||x||1000 - 0 (i.e. 1000)||=||1400000|
|2||1||x||700||x||1000 - 2 (i.e. 998)||=||698600|
|3||1||x||700||x||1000 - 3 (i.e. 997)||=||697900|
|4||0.04||x||700||x||1 (i.e. < 0.05 ETH, No bonus)||=||28|
|5||0.05||x||700||x||1000 - 4.04 (i.e. 995.96)||=||34858.6|
This bonus calculation scheme improves on UET's limitation of repeatedly sending minimum transactions (plus redundant transaction gas) to get the maximum bonus. With this scheme, you don't need to send transactions repeatedly, instead you can send the actual amount you want to contribute and get the same effect of maximising the bonus plus saving you on transaction costs. But you have to be an early bird though, otherwise you lose out on bonus points.
A Trustee smart contract was created to handle the vesting of tokens for the different stages of the project. The Trustee Contract Address is at 0xfbadbf0a1296d2da94e59d76107c61581d393196. Below are the grants and vesting schedule of the grants.
|Grant||Beneficiary||Grant Date||Cliff||Duration||Tokens Vested||Revocable|
|First Airdrop||0x559a7584a32353a527a644ccff543a2a72206520||11/11/2017||2 Months||2 months||3.5%||No|
|Second Airdrop||0xffeb93ab1ed92ff89725e0b15ec615e01f39f07f||11/11/2017||3 months||3 months||4.725%||No|
|Third Airdrop||0x1a600d92949055bcd79ea63ce95c76af9993c02e||11/11/2017||4 months||4 months||6.37875%||No|
|Fourth Airdrop||0xc11b9b76d4a30285c246c884a723298e1eea208e||11/11/2017||5 months||5 months||8.6113125%||No|
|Fifth Airdrop||0x7c793310d4a37941d7876bf60a0aa3f294949f61||11/11/2017||6 months||6 months||11.7849375%||No|
|Second Token Sale||0xf1e5c82c9265865bb4106b54b87d496fc71dcb4e||12/12/2017||7 months||7 months||40%||No|
|Bounty/Community Pool||0xb9465ba038f053b11df83f72ffcba4955a174fe3||11/11/2017||1 month||1 month||5%||No|
|Future Founders' Share||0x2fe9ed5cdea272f76051a0ea219d7312bb7d7c9d||03/14/2018||1 Year||2 Years||8%||Yes|
|Original Founder's Share||0x07b79915beeda509debf070fb6d72db33443f96e||11/11/2017||1 Year||2 Years||2%||Yes|