Topic: [ANN] [PreICO] WaBi (蛙币) coin backed 🔥 by safe products in China - page 38. (Read 57070 times)

interesting project, dev sent you pm

Quite Interesting project ... Will there be any Airdrop ?

We'll announce the details of translation bounties today or tomorrow.

The problem of fakes in the West may sometimes seem like a 'theoretical' problem that only tangentially touches the everyday life. At least you are not worried about buying plastic rice when you go grocery shopping. In China, however, the problem is present literally everywhere.

Here are some examples of what it looks like:

Fake beer:

https://www.youtube.com/watch?v=kXIFdRugGtw

And no, they are not washing the cans, it is actually the 'beer' that they use to fill up the cans

Fake brandy:

https://www.youtube.com/watch?v=bpb-w4Uz5I4

Fake eggs:

https://www.youtube.com/watch?v=jXIokJLu_zE

Fake rice:

https://edrugsearch.com/plastic-rice-from-china/

Therefore we started with baby-formula since due to its high marginality it has been one of the favorite products among the counterfeiters resulting in numerous scandals involving a lot of infants dying or sustaining severe afflictions.

reserving german translation

Thanks qiman for your kind words. The problem is huge and super complex, so, it will take some time and there will be different models that would be solving it. We believe that we are doing the first push and hopefully our solution will become the base for others.

Looking promising project. Will keep my eyes on this project. Any bounty available for Bitcointalker member ? I would like to join the bounty if available ...

This is great news as there are many fake products being sold all over the world and it is causing much harm to consumers everywhere. There are problems that need solving and this one is a problem consumers want solved sooner rather than later. WABI taking this initiative will build bridges between trade partners also in the long run.

reserving trurkish translation

Thanks for the question. Please, see below:
Main preICO terms
PreICO and ICO
• We will run this in two stages: first preICO, then ICO itself. PreICO will enable use to put together
an ICO that is adequate to the size of the project and opportunity.

PreICO
• Timing: start on 28th July at 17.00 Shanghai time and run for 21 days or until reaching maximum
amount of 300k USD equivalent
• Minimum and maximum amounts are 30k USD and 300k USD equivalent. If we don’t reach
30k, the contributions will be returned. The preICO will be closed if/when we receive 300k USD
equivalent in contributions
• Token: token is called preWaBi. Each preWaBi will be sold at 1 USD equivalent during the preICO.
Each preWaBi will be converted into 2 WaBi at the end of main ICO
• Token parameters: ERC20 token standard, 330.000 issued at the beginning of preICO. 10%
of tokens on top of whatever is bought by contributors will be distributed as bounties. PreWaBi
tokens not distributed to contributors or as bounties will be destroyed. No tokens will be distributed
among founders or the team. E.g. if we receive 100k in contributions, 100.000 tokens will be
distributed to contributors, 10.000 tokens will be distributed as bounties. The remaining 220.000
tokens will be destroyed.
• Our preICO wallet will be secured with 2 out of 3 signature payments requirement, signatures will
be held by founders and a team member. We are not securing it with a 3rd party due to relatively
small amount of the raise. ICO wallet will be secured by 3rd party escrow.
• Accepted currencies: BTC, ETH, LTC .
• Once minimum amount is reached (30.000 USD equivalent) we will start converting into fiat
currency to avoid fluctuation risk as most of the expenditures to run the full ICO will be in fiat
currencies.
• The amount of preWaBi delivered to contributors will be fixed at current exchange rates at the
time when we receive the payment but delivery of preWaBi will be done at the end of preICO.
• PreICO token code can be examined at (link to Github will be added later)

ICO
• Important to note that we are still in discussion with lawyers on some of the parameters of the
ICO. Hence it is possible that some of the ICO terms may change even after the preICO.
At the same time will do our best to try and change it as little as possible as well as to protect
the interests of our contributors and ensure they are not coming out worse off with whatever
change of the below parameters.
• Timing: start in August or September, will last for 30-60 days or until reaching maximum
amount
• Minimum and maximum amounts are 500k USD and 30m USD equivalent
• Token: token is called WaBi (蛙币). Each WaBi will be sold at 1 USD equivalent during the ICO
• Token benefits: the collected contributions will be used to build sales network of products with
Walimai labels through baby shops in China. Products will be sold at a 5-25% margin because
of additional security, 60% of the profits made will be distributed to WaBi token holders
(subject to taxes) every year. Will will distribute the profits in one of the following ways: a)
buying back WaBi tokens at an exchange b) direct transfers to all of the WaBi token holders.
For more detailed explanation please see the legal setup and benefits distribution part of this
document
• Token parameters: ERC20 token standard, tokens will be issued only one time at the end of
the ICO following the formula: amount of issued tokens=“contributed funds”/0.7+(preWabi
issued at preICO)*2. For example, if 100k USD is contributed during preICO and 7m USD is
contributed during the ICO, 7m/0.7+100k*2=10.200.000 WaBi tokens will be issued. 7.000.000
tokens will be distributed among the contributors, 3.000.000 will be distributed as bounties,
team and founders compensation and 200.000 will be used for conversion from preWaBi into
WaBi.
• Some of the WaBi tokens may be sold at a discount during ICO, e.g. with a discount for early
contributors, in this case we will use the nominal value (1 USD) for the above calculation.
• Given the parameters outlined above, the maximum amount of WaBi tokens can reach
30m/0.7+300k*2=43.457.143
• Our ICO wallet will be secured with multi signature account involving 3rd party escrow. More
details will be announced closer to the ICO
• Accepted currencies: BTC, ETH, LTC

detail program n detail coin ?

Reserved for indonesian translator