Topic: [ANN][ICO]COSS Token Swap ICO is LIVE - page 159. (Read 124537 times)

@ColorlessK: many thanks for the detailed answers and I agree, giving the gains from the unsold coins to charity is a good thing.

Anyway I also have to agree with Isaaq, for investors it is no ideal solution, or do I (we) missed something ?

How long will the unsold coins be locked away?
If not "forever": What you intend to do with the unsold coins after the smart contract released them.

Your token sale isn't going well, 67 Million USD is a lot of money to ask. assume you collect only 20 Million USD (so far you collected less than 1 million), which is still a whole lot of money. It means that charity will get twice as much money from the dividends as all your ICO contributors combined. That's very generous of you, but that's not exactly good news for investors. You should put a cap on how much the will be given to charity, like 1 million COSS maximum. And then burn all other unsold tokens. Only then would it make sense to invest in your company. You have a good thing going on there, make it attractive for people to invest

Yes. Certain components of COSS are centralized because this is what the technology provides right now. As you know, decentralized exchanges have big difficulties operating large volumes at high speed, and they cannot trade with FIAT money as we intend.

The presentation of the wallet system is to present our users that we are taking into consideration all mechanisms to protect their funds.

All funds stored in COSS are fully auditable and we can provide an irrefutable evidence that we don't spend any of these funds.

I don't know where you got that number, but that's not true.

The Token Sale includes 130M Coss at a rate of 1 ETH=600 COSS, so that would mean a total cap of 216k eth, at current rate that's 67M, the rate was decided when ETH was 200$ so that is why dollar value has increased so much.

As to the unsold tokens, this is what happens to them:

All the remaining tokens that haven’t been sold after the ICO, will be paced into a vetted/audited Smart Contract serving as the COSS Charity Foundation. COSS currently partners with the biggest Charity Foundation in Romania named “Mereu Aproape” managed by one of the biggest Media Trusts in the country and supports a Malaysian entrepreneur David Wu collecting money to help the children with cancer. The “Mereu Aproape” Foundation and David have registered their accounts on COSS in order to collect charity donations in cryptocurrencies supported on the platform.
In the nearest future COSS will contribute to more charities by dropping its unsold Tokens left after the Token Swap. The unsold COSS Tokens will be placed into a Smart Contract Pool, accumulating revenues in various crypto as per the FAIR SHARE program. Every 6 months this wallet will release all the gains to help a specific charity case (or foundation) that will be announced publicly. All the funds will be transparent due to their placement on the Ethereum blockchain, and will be donated to a charity vetted by the Board of Directors of COSS.
The Smart Contract Codes and the Audit will be released after the Token Swap.

I wonder about the same (beside much lower traffic here on bitcointalk than I would have expected after reading the whitepaper)

Is it any possible to answer the question about centralization and what´ll happen to the unsold tokens?

Thanks in advance

They can, but 1 wrong step and that's end.

from white paper

Warm wallet:
Warm wallets are stored on a totally separate server that has all the security measures to be
protected:  all  communication  ports  except  for  the  blockchain  synchronization  ones  are
blocked, no user has access to the server directly, the wallet's password is encrypted, etc.

Cold wallet:
Cold wallets are stored on air-gapped PCs in the COSS office in Singapore. These computers
have  no  internet  connection,  and  the  transactions  from  the  cold  wallets  are  processed
manually by our financial managers.
The majority of funds is stored in the cold wallets.

can COSS explain please? its not decentralize.

it say all wallet info will be store at the COSS headquarters in singapore. its true?

Edit:

CONTRIBUTED
2,067.683 ETH  516,920.868 USD
PARTICIPANTS
 200 participants

                                                     COSS ICO added - ICOTRACKER.NET    https://icotracker.net/project/coss
                                                                 https://twitter.com/Kaznachej123/status/894874567281442816

                       

Below we have listed some important things to bear in mind when you participate in the Token Swap:

• During the Token Swap (ICO) we will sell 130,000,000 COSS, and will accept ether (ETH) only.
• The confirmed ratio throughout the entire ICO period that ends on September 6 (unless all the tokens are sold out earlier) is 600/1 or 1ETH = 600 COSS (+ any bonuses you are entitled to based on the time, when you entered the Token Swap).
• The minimum buy-in of the Token Swap is 0.001 ETH.
• A unique address will be generated for you in your COSS dashboard.
• COSS is an ERC20-token, therefore you are required to use an Ethereum-based wallet such as Mist and MyEtherem Wallet, for example. We will not accept any cryptocurrency other than ether (ETH).
• The tokens that you’ve purchased during the ICO will be released on/before September 20, 2017 and will be available for trading no earlier than that.

Why is it worth investing in COSS?

• COSS Token will earn you revenues in ALL cryptocurrencies that generate transaction/trading fees on COSS.IO on a weekly basis. 
• COSS doesn’t only exist in the whitepaper, it is a fully OPERATIONAL platform with over 3300 trading accounts and over 200 merchants and it is only 3 months old.
• Until now COSS has been 100% self-funded with zero debt.
• COSS will continue expanding at a rapid speed joined by new strategic partners and advisors.
• COSS will help other startups to kick-off by showcasing their products and services to a wider audience helping them to be seen by investors

Please be aware that COSS will never post any contribution addresses publicly anywhere for the Token Swap. Unique addresses for each contributor will be generated on your coss.io.ico dashboard after the countdown hits zero. Be aware of scammers and impersonators, and don’t send any funds before the official launch of the ICO (08.08.2017 12:08  p.m. GMT) and later than (06.09.2017 12:00 p.m. GMT). Do not send funds to any addresses that are being provided anywhere else except for the official COSS Token Swap page at: http://coss.io/ico.
Make sure to follow the Token Swap updates via official media only.

Make sure to check our FAQ on the official COSS Token Swap page at http://coss.io/ico You can forward your question to us via the official Slack chat: https://cosstokenswap.slack.com/join/shared_invite/MjA0NDA2MjY4MzUzLTE0OTg2NjMxNDktOTkxZDcwOTYxYQ
Or the official Facebook page: https://www.facebook.com/cosscrypto.
For your convenience, we have placed all the essential information on our website and the official social media and will continue doing so throughout the entire campaign to the best of our effort. Please bear in mind that during the Token Swap the server will be busy and there may be delays replying to your inquiries, so please be patient and make all the necessary preparations early.
On the official COSS token Swap page at http://coss.io/ico we have provided the instructions that clearly explain how you can participate in the Token Swap.

I wrote an article about COSS, but when will Bounty be distributed?
I'm very excited about this project so please do your best.

lol, they're asking for about 100,000,000 USD, and they won't even burn the remaining tokens. I was excited about this, but seriously, this is asking way too much. Should've had a much lower cap.

For me, this is a promising project in the future and it is possible to exchange this altcoin on their official website after the ICO. I think this will attract many big investors and I will use my little money to invest in this project. Good luck

Evidence:

https://drive.google.com/open?id=0B2X7ErVnf44tWDlXbHdZT0dpTDA

Thanks for your explanation, but I hope this is not a Decentralised exchange like Waves because for me time is not ripe for decentralise exchange the volume on them is very low and will take time before people start trustuing them

First of all you have a very large team, seems like a reliable project. Where can I find the announcement link in Turkish ?

Hello yes, the exchange is live because the team wanted to have a working product before going on market, the COSS Token though has several uses besides this one, such as being used by merchants to accept payments via COSS Tokens.


Important Announcement: BitsDigit is a scam. They have stolen the COSS Whitepaper and Plan and haven't even bothered editing the Whitepaper to get the names of the COSS Team out. The team is currently taking all course of actions to remove this scam from the internet and their twitter has already been banned.

COSS is a corporate member of https://access-sg.org/ and https://singaporefintech.org and is the original product. More updates about the ICO will come soon

Tonight Rune Evensen, the CEO of COSS will be in Kuala Lumpur attending https://www.eventbrite.com/e/the-blockchain-potential-a-community-networking-vent-tickets-36655867687?aff=ebdsorderfblightbox

I see this project has a lot of interest quickly, this is very good, I really like your team, look very professional, I'm sure this project will be successful, I hope to join the social media bounty campaign, good luck