The Frankfurt based fintech savedroid plans to democratize cryptocurrencies by creating a super-easy way to access Bitcoin, Ethereum and co. The token sale for savedroid’s ICO will kick off soon. Here you can find detailed information about the roadmap and the structure.
Although savedroid already has a successful product live with a massively growing user base and revenues, integrating cryptocurrencies is a leap forward and much more than a straight-line progression. Integrating partners and bringing in developers, UX designers, and marketing professionals, as well as setting up the legal framework, requires substantial investments. By offering an Initial Token Sale (ITS) with a maximum of 100 million tokens, we would like to give the crypto-community the opportunity to participate in savedroid’s success story, instead of limiting access to a small number of traditional venture capital funds. Besides, an ITS is fast, transparent and efficient and, thus, empowers savedroid to launch crypto features much faster.
Issuing its tokens (short name: SVD) allows savedroid to be backed by contributors from all over the world, who will have access to SVD right after its creation. After the ITS, savedroid will aim to list the SVD token as soon as possible on all major exchanges. We will communicate the exact dates once the exchanges give us their approval. A maximum of 10 billion tokens will be issued, 60 percent of which will be offered to investors at a price of 1 euro per 100 tokens.
savedroid's token sale consists of a pre-sale and main sale period. The pre-sale was to run from January 12th to January 26th, 2018 and gave buyers a 30 percent premium in the numbers of tokens they receive - but it sold out in only 7 hours! Since the token price is 1 euro per 100 token, buyers will receive 130 tokens for every 1 euros they pay in the pre-sale. 5 percent of the tokens (i.e. 500 million tokens) will be issued under these conditions. Tokens can be paid with Bitcoin and Ethereum as well as with Euro. Payment can be made via bank transfer and credit card.
The main sale will run from February 9th to March 9th, 2018. During this period, 55 percent of the total of 10 billion tokens will be offered. There is a Min Cap of 50,000,000 tokens. If this level is not reached by the end of the main sale, all payments will be returned, less charges depending on the payment method (credit card fee or blockchain gas).
The minimum number of tokens per subscription is 1000. There is also a maximum number of 10,000,000 tokens per subscription. Investors can be assured that there will be no more tokens created once the ITS is finished. Any tokens that were not sold in the ITS will be burnt. On top of that, savedroid will use a deflation mechanism, as suggested by Vitalik Buterin, once the tokens are in use within the savedroid ecosystem. These procedures help that the tokens will become more and more rare and supports their value.
Join the savedroid way to democratize cryptocurrencies!
The savedroid token sale ends on March 9th, 2018. Find out more on our website and sign up for the newsletter, so that you don’t miss any important news — https://ico.savedroid.com
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