Hi All,
Following are the pre-sale details.
The date isn't 100% final yet, and maybe not only the date. We keep the right to make some minor modifications till the final date announcement.
Launching the Zencoin Pre-SaleFirst of all, we would like to thank the community for their interest in Zennet and for their patience regarding the launch of the Zencoin pre-sale.
Zencoins will be pre-sold by sending Bitcoins to a fixed address that will be given on our website
http://zennet.sc. Bitcoins will have to be sent from an address that you own, for example Bitcoin Core or Bitcoin-QT wallet, or from Blockchain.info. Future address verification, for the sake of Zencoins distribution, will be done safely via the Sign Message mechanism, with a fallback option to other methods of verification.
This pre-sale focuses on the Bitcoin community, of which Zennet's founders are proud members. We believe that this community understands the future of decentralization better than anyone else.
In this pre-sale we will sell 10% of all future Zencoins that will exist. The community will set the price. The coins will be distributed proportionate to the amount each buyer bought in BTC/USD (average) value (in order to be fair to all buyers disregarding BTC ups and downs. It doesn't matter from our side), and
not according to a fixed price.
This price-discovery sale will precede other sales that are intended mainly for the global crowd (via cryptocurrencies or fiat money), such as corporations, academia, research centers, etc.
Any future selling of Zencoins (by the Team) will only occur at a price higher than the price set during this initial pre-sale. This is to ensure that the early adopters are rewarded by having purchased zencoins at the cheapest possible price point.
The following is our high-level roadmap:
Q4'14: Pre-sale campaign launch. Core development.
Q1'15: Core development. Worldwide corporate and academic marketing.
Q2'15: Functional beta.
Q3'15: Zennet release.
Q4'15: ZenFS beta.
Q1'16: ZenTube beta, ZenFS release.
Additional documents providing further details on the sale as:
- Terms and Conditions of the Zencoin Genesis Sale
- Zencoin Product Purchase Agreement
(To be published soon)
Additional terms:
- Zencoin will NOT be usable or transferable until the launch of the genesis block with the official Zennet platform release.
- Ongoing Zencoin generation, similar to mining, is not planned for Zennet. Upon the launch of the genesis block, all coins will be distributed to their owners, except for 8 percent of the Zencoins that will be retained for the Zennet Team, and another 8 percent of the Zencoins that will be retained for community applications and bounties.
- An additional 4 percent of the Zencoins will be retained for supporting initial network growth. These coins will be spent on the network to create resource demand and incentivize the joining of new nodes during the early stages of the network. These coins will be fairly distributed to the network participants as they will be used to continuously rent computing resources until the coins are exhausted, in order to bootstrap fast network growth and early adoption.
- All other unsold coins will be destroyed when the official Zennet network launches.
- The estimated launch date for the genesis block is Q3 2015. Up till then we will be working hard on developing the product. We have already recruited a full development staff, and have began development months ago.
- The tentative date of the pre-sale is mid-November, exact date will be published ahead of time.
- Zencoin is a token being used only for a certain commodity (namely computational resources). It is NOT a security, a currency or an investment offering. Zencoin is simply a token useful for renting computational resources on the Zennet platform after its development is complete; it does not give you voting rights over anything nor shares in some kind of profit, and we make no guarantees of its future value. Also, we do not and will not make any plans to make Zencoin a general purpose currency. It's solely intended to be used within the Zennet network as an in-application computational resource credit.
