From whitepaper (https://firelotto.io/whitepaper_en.pdf)
Can you tell us more about that?
Really inverstors (token holders) will have to buy ("a certain number") tickets and play the game in order to get sales commissions?
??
"The number of tickets and the frequency of purchases are being calculated at the moment and will be announced later" - what your calculations say today?
Please give us more light on that.
You can read the whitepaper No. 23. How do you plan to minimize regulatory risks, especially those related to the Howey Test?Quote
- In order to receive commissions, each token holder has to play the lottery. In other
words, each token holder will have to buy a certain number of lottery tickets every
month in order to be able to receive commissions from sales. The number of tickets
and the frequency of purchases are being calculated at the moment and will be
announced later. Given that one lottery ticket costs only 2 U.S. dollars, token holders
will not have to spend a lot of money on buying lottery tickets, and at the same time
this measure will help us solve legal issues and stimulate the lottery.
words, each token holder will have to buy a certain number of lottery tickets every
month in order to be able to receive commissions from sales. The number of tickets
and the frequency of purchases are being calculated at the moment and will be
announced later. Given that one lottery ticket costs only 2 U.S. dollars, token holders
will not have to spend a lot of money on buying lottery tickets, and at the same time
this measure will help us solve legal issues and stimulate the lottery.
Can you tell us more about that?
Really inverstors (token holders) will have to buy ("a certain number") tickets and play the game in order to get sales commissions?
?? "The number of tickets and the frequency of purchases are being calculated at the moment and will be announced later" - what your calculations say today?
Please give us more light on that.
The main difference between the security token and the utility token is that the first one enables its holder to get profit without doing anything. A person can simply buy a token and get dividends. Having analyzed the current international legislation, we adopted a set of measures aimed at making it clear that our tokens should not be classified as security tokens:
- Holders of our tokens will get commissions from sales rather than dividends. This system will be in essence the same as the system of referral payments discussed earlier.
- In order to receive commissions, each token holder has to play the lottery. In other words, each token holder will have to buy a certain number of lottery tickets every month in order to be able to receive commissions from sales. The number of tickets and the frequency of purchases are being calculated at the moment and will be announced later. Given that one lottery ticket costs only 2 U.S. dollars, token holders will not have to spend a lot of money on buying lottery tickets, and at the same time this measure will help us solve legal issues and stimulate the lottery.
-Together with lawyers and advisors from New York, we are discussing the option of inviting a professional investor to our team. This will enable us to attract funds from U.S. citizens to our ICO in accordance with the rules and requirements established by the SEC and U.S. government.
