There is no better time and in no better way can you participate in bringing financial change to the prison system than by taking part in the upcoming Cellblocks token sale which is just 9 days out. The ICO is set to begin on 1st April ( 10:00 am UTC) with each token going for just $0.10.
Currently, the Token has received great interest from various prison facilities with an expected roll-out of the new platform set for the 3rd quarter of 2018.
Only people who are whitelisted are eligible to participate in token Pre-sale. However, those without a Cellblocks account can register one here. Registered users can check legibility by logging in into their CellBlocks account. At least 75% of the 300,000,000 tokens will be distributed to the community with 9% reserved for founders, and 7% for an inmate bounty. Affiliates and ConCoin will get 3% of the tokens each. The ICO is set to end on June 10, 2018, or upon reaching a $12,000,000 hard cap whichever comes first. All unsold and unallocated tokens after the 71-day ICO window will be destroyed.
The utility is set to rise in price with continued adoption from major prisons. The novel idea comes with a promise to take on a bloated and bureaucratic prison financial system. It is set to give prisoners a taste of financial freedom through a Cryptocurrency that guarantees access, independence and utmost transparency in how prisoners’ money and transactions are handled.
Transactions on the platform will have a burn rate of 0.5% for every transaction which will be calculated according to current exchange rates. The ‘burn’ process is decentrally regulated by smart contracts.
More value will be realized with a Monthly Loyalty program. The program is aimed at encouraging users to hold and buy more tokens as the rewards are solely dependent on the number of tokens a user is in possession of. Users will get rewarded in CLBK tokens on a random day every month.
Accepted forms of purchase will include other secure blockchain-based platforms such as Bitcoin, Ethereum, Litecoin, and Wire transfers. The minimum transaction value is pegged at 750 CLBK with no maximum limit. Cellblocks is offering an additional 25% bonus in addition to the normal 18–33% in the first 4 hours of the ICO or until the first $2.5 million is raised. This means that early buyers get to enjoy bonuses of up to 58% of their total Cellbocks tokens (CLBK) purchase.
To claim your tokens, users are advised to provide an ERC20 compatible wallet address. This is to enable the transfer of the tokens to your wallet at the end of the ICO. Some of the suggested wallets include Mist, ImToken, Metamask, and MyEtherWallet.
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