Everyone is talking about buying before the end of the crowdsale but what is really the disadvantage to waiting for the ICO?
Hi there
There are a total of 5 million Viral. 50% of the coins are sold in the crowdfunding and the remaining 50% will be sold in the ICO. The amount of BTC invested in the crowdfunding determines how much 2.5 million Viral are worth (price discovery). The ICO price will then be set at 30% higher than the discovered price of Viral, thus rewarding crowdfunding investors.
In addition, crowdfunding investors enjoy a range of other benefits, including:
- Private voice chat channel hosted by Adam Guerbuez and community managers
- First mover updates on new opportunities within the Viral ecosystem
- Reserved elite campaigns with dedicated revenue sharing for crowdfunders
- Accelerated path towards Verified status when the Verified component of the Viral network is rolled out.
Hope this helps -
ViralDev
So it won't be mineable? Also you mentioned verified. Does that mean releasing private identifying info? Hope not because that is not the nature of cryptos. Please explain what you mean. Also how are you going to buy coins with ad revenue when all of them will be sold to VIRAL funders? Looks like you will all be eating your own and trading within.
Hi
Thanks for your questions,
Viral will not be mineable. Investors earn dividends by participating in the network as nodes.
In addition, investors are rewarded by the process of sponsor revenues being used to buy up Viral off exchanges, thus reducing the supply of Viral. Here is is the simplest way to understand it:
When Viral contracts with a sponsor to place products within the Viral network, the majority of these proceeds are used to buy Viral on the open market, thus decreasing the total available coin supply and increasing the value of Viral, benefiting all holders (reduced coin supply = increased value) . The majority of these coins are in turn burnt, permanently reducing the supply of Viral. A portion of the coins will not be burnt, but returned to the most active nodes (participants) in the Viral network. The exact ratio of burnt coins to dividend coins will be determined in dialogue with the community.
Verified is not about KYC etc. Verified is a component of Viral due to be added into the platform after the initial Viral Network is in place and functioning smoothly. Verified will offer Viral network participants who have demonstrated consistent social reach in the network a way to monetize that reach. We'll be posting more details on Verified shortly.
I hope this answers your questions.
Viral Dev
Thank you for answering. Some follow-up questions. What happens to excess revenue when no coins are for sale? How is and who does the accounting and distribution? It does not seem to be a trustless system which is the current rage in crypto.
The system is not entirely trustless, you are correct. However we are striving to make the entire process completely transparent, and visible though the user GUI: current contracts, how the revenues are distributed, the burning of coins, and all the metrics that are determining a given person's reach at a given time. All processes involving Viral will be visible on the block chain.
In answer to your other question, the distribution of revenues according to performance will happen once a month. The Viral algorithms track user participation and return the results automatically both running and at months end, however until the network is clearly out of beta this will be a manually overseen process.
If I understand your 'no coins' question correctly, this will be market determined. The revenues will be used to buy coins according to the formula. If there only a very limited number of coins out there, they will fetch a high price. Good for Viral investors.
Please let me know if we can comment further.
thanks
ViralDev