What is your expected fundings amount ?
Hi ksnhll,
Instead of selling tokens at the fixed price as many other ICOs do and thus having an exact hard market cap, the smart contract instead follows this formula for changing the price dynamically based on a market demand:
https://github.com/uvarovserge/royalkingdomcoin/blob/master/contracts/RKCToken.sol#L116We have calculated that the maximum possible investment is around 100,000 ETH, which is $20,500,000 at the moment (could be more or less, depending on the ETH price) if someone were to buy all 18% spread by 18 transactions (would be slightly more if the transactions are small instead).
We can't get more than this amount. This is by intention, we hard-coded this limit into the formula. We can get less though if the market will stop buying until the ICO ends. Then we will divide this amount by the total amount of coins bought, multiply by 100, and we get the full market valuation of the token that the smart contract has thus discovered. And the rest of the unbought tokens gets proportionally distributed among all token holders to make everyone happy.
Project looks promising, but why accept only ETH in ICO?
I think because it's built on the ethereum platform?
You're absolutely right. We based our ICO on the rules of the
open source smart contract to provide the full transparency of operations to the public. The smart contract runs on the Ethereum blockchain network, and it's not possible to send Bitcoin to the Ethereum address, as you know. We were trying to provide this service and convert BTC to ETH for people at the start of the ICO, but couldn't keep up with the unexpectedly high demand. So now only ETH is available.
Hi, how do you plan to distribute the rest of unbought tokens proportionally? Is it by the amount of Eth you invested divide by total eth collected multiply by number of remaining tokes or what? Also you said that you are already a company, What is the name of your company? Is it ok if you screenshot your company trade license and expiry date. I tried to search for rke and royal kingdom enterprise in Dubai chamber of commerce but I cant find any results. I just want to make sure you are existing company in Dubai to avoid any doubts.
