Here is the key information about the NeuCoin presale
which will start on April 28:
- 100 million NEU to be offered in exchange for BTC
- Price starts at $0.01 per NEU and increases by 1% per day
- Presale ends after 60 days or when the 100 million tokens have been sold
All proceeds from the presale will be held in escrow until the NeuCoin cryptocurrency is launched, expected to happen in July. (If the launch does not occur by September 30, all presale purchases will be refunded). Following launch, all proceeds will be distributed among NeuCoin's three Isle of Man-based, non-profit foundations - the Code, Growth and Utility Foundations - and will be used, along with cash remaining from NeuCoin's strategic angel round, to fund core development, consumer marketing and projects that increase the utility of the cryptocurrency.
The initial price of $.01 per NeuCoin is two times the price paid over the past year by NeuCoin's strategic angel investors (in cash) and NeuCoin's founding team. However, all the NeuCoin sold to angels and retained by the founding team can only be sold or used at the rate of 2%/month during the year after launch, 3%/month during year two, 4%/month during year three, 5%/month during year four, and 6%/month during year five. These re-sale restrictions were put in place to ensure that the founding team and strategic angels are committed to the successful development of NeuCoin over the long term.
The main purpose of the presale is to enable the broader crypto community to join NeuCoin's own community:
- A founding team who have launched several consumer-facing internet companies that have reached tens of millions of users in the music, gaming and shopping spaces. See bios here: http://www.neucoin.org/en/wiki/#team
- Strategic advisors that include Patricke Stymne, co-founder and Chief Architect of King (Candy Crush Saga), Alex Norstrom, Head of Growth of Spotify, Jackson Palmer, creator of Dogecoin, Michael Witrant, core developer of Peercoin, and Brock Pierce, crypto financier and member of the Bitcoin Foundation
- NeuCoin's strategic angels, invited to invest based on their ability to forge partnerships and help drive consumer adoption, include the SVP of Business at Uber, the President of Hotwire, the Head of Growth at Facebook, Producers of television shows American Idol and X-factor, and dozens of other top tech, media and VC executives and entrepreneurs. List of angels here: http://www.neucoin.org/en/wiki/#angels
The initial presale price of $.01 equates to a market value of $30 million for the total supply of 3 billion NeuCoins that will exist at launch. However, at a price of $.01, it is worth noting that coinmarketcap.com (the popular digital currency pricing information provider) will initially indicate NeuCoin's market cap at just $1 million - because the only NeuCoin available for sale at launch will be the 100 million NeuCoins sold in the presale. Moreover, as shown in the chart below, the vast majority of all NeuCoin at launch will be held by NeuCoin's foundations, which will use their NeuCoin assets to increase the utility and value of the cryptocurrency over time.
Proceeds from the NeuCoin token presale, along with cash remaining from the angel investors, will cover the foundations' expenses during the year after launch. The foundations' main objectives for year one are the following:
- One million or more consumers using NeuCoin for online micropayments
- Hundreds of quality content providers accepting NeuCoin micropayments
- Integration with leading exchanges in all major geographic markets to enable easy access to NeuCoin for consumers worldwide
When it launches in the summer of 2015, NeuCoin will be the first cryptocurrency that is:
- easy for regular consumers to access and use
- free for consumers to try out with zero friction
- designed for online micropayments (from $.01 to $1), an area where traditional payment methods are unviable or inefficient
- distributed not just to miners, but to all who grow its value and utility
- secure, efficient and decentralized in the long-run based on an innovative proof-of-stake technology
- supported by well-funded non-profit foundations dedicated to maximizing its utility and value
As an incentive to learn more and get involved, the NeuCoin foundations are offering up to 2,500 NeuCoins to those who read NeuCoin's Strategic Plan (
http://www.neucoin.org/en/wiki/) and share their opinions through a questionnaire available from the Strategic Plan page. These would be additional to any NeuCoins you earned if you completed the earlier survey.
Looking forward to your feedback!
