We’re finally here. The moment has arrived! Today we start our public Token Generation Event (TGE). Thank you to everyone in our community for helping us reach $40M and counting. We’re excited to continue working hard to achieve our goal of $50M!
Our vision is to create a more sustainable retail economy where retailers become stronger by working together and shoppers get rewarded based on the value of data that they fully own, control and can share.
Our goal with the Shopin Token is to facilitate the mutually beneficial exchange of information between retailers and consumers to enable the most personal and efficient shopping experience. Retailers pay tokens to consumers in return for access to their profile data (e.g., style preferences and purchase history), for permission to send them marketing offers and as rewards for loyalty. Consumers can exchange the tokens for merchandise at participating retailers or into Ether that, in turn, can be exchanged for other fiat or cryptocurrencies.
How to Participate in the Shopin TGE:
Have your Passport or Government ID available from the past year (2017/2018) with your physical address, name and expiration date visible. Also, have a utility bill (gas, electric, mobile phone, TV, Internet, etc) available with your name and physical address. If the addresses are not in English, that is okay.
Take a clear selfie picture holding your Passport or Government ID next to your face and take a clear photo of your utility bill. We do not want you to miss out on this opportunity because of a minor error.
Go to https://tokensale.shopin.com/ and click JOIN NOW. Submit your name, email, and contribution amount. Within 5 minutes, you will receive a unique link tied to your email to start the KYC process, where you will send these photos.
After no more 24 hours, you will be receive a transaction email to participate. See screenshot below. You will receive a legally binding SAFT (Simple Agreement for Future Tokens). You must have an ERC-20 compatible wallet for us to distribute tokens to you at the end of April — early May.
note: the Shopin token has not yet been created, so you will not receive a smart contract at this time. The Shopin token will be created after the end of the public TGE (see details in next section below).
If you have any trouble during this process, please email: kyc@shopin.com
Key Details of the Shopin TGE:
-Start Date and Time: March 30, 2018 at 12 pm ET / 5 pm UTC (GMT)
-The Shopin Public TGE does not offer bonuses.
-There is no minimum to participate in the Shopin Public TGE.
-The USD price per token was set at 0.10 cents.
-Total Token Supply: 1.5 Billion
-% of Tokens for Public TGE and Presale: 33%
-Raise Goal: $50 million USD
-Accepted Contribution Methods: BTC, ETH
-Your wallet should be ERC-20 compatible in order to receive tokens.
-Tokens are available for purchase in all countries except People’s Republic of China (including Hong Kong and Macau), --North Korea, Syria, United States, and New Zealand.
-The Shopin Public TGE will end when the goal of $50M is reached or after 30 days, whichever comes first.
Token Allocation:
-500 million tokens will be sold during the Public TGE and Presale.
-500 million tokens will be kept in reserve for retailer, user, and partnership incentives
-500 million tokens will go to the Shopin team, investors, and advisors with a three year lock-up.
-Every year, one-third of the tokens will be released based on product milestones achieved.
Use of Proceeds:
The majority of proceeds from our TGE will be used to help us achieve our vision for the Shopin service. Among the investments we expect to make are:
-Software Engineering, Data Science — 50%
-Marketing Expenses, Sponsorships, PR — 30%
-Business & Corporate Development, Operations — 15%
-Legal & Accounting — 5%
Token Design:
Shopin Tokens have two forms — public and private — in order to provide both liquidity and scalability. Both the public and private tokens have the same value. Each can always be exchanged one-for-one into the other form.
Shopin Ethereum Blockchain Tokens
-When they are initially issued, Shopin Tokens are in the form of ERC-20 standard tokens. This means they are recorded on the Ethereum blockchain.
-Stored in any wallet that handles Ethereum tokens.
-Subject to the performance limitations of the Ethereum network.
Shopin Blockchain Tokens
-Recorded on the Shopin Network, a federated permissioned blockchain with capacity in excess of 1 million transactions per second.
-Stored only in the Shopin App.
-Used in this form for Shopin exchanges related to profile data, advertising, rewards, and gift giving.
Important Information for Sale Participants:
-The Shopin Public TGE is an event during which participants can purchase Shopin tokens.
-In order to participate, you’ll need to pass KYC-AML verification. Please note that you can only acquire Shopin Tokens with Bitcoin and Ethereum.
-Our Shopin team will never send you a personal message on Telegram asking for your wallet address or payment. If anyone claims to be part of the Shopin team, please ask them to send a video to confirm their identity. At Shopin…
-The Shopin Public TGE occurs only here: https://tokensale.shopin.com and all email communications are sent from the domain “
-Be aware of scam websites or phishing emails attempting to obtain sensitive information such as passwords or ETH address.
-Very Important — Someone has created a FAKE Shopin token at this address: https://etherscan.io/token/0x03f0db454b9d5e3078b0012d606541e10b95096f. This is NOT our official Shopin token.
-Again, our token is ONLY available here by clicking Join Now: https://tokensale.shopin.com
Questions?
Reach out to us on Telegram, Reddit, Facebook or Twitter with any questions and/or kyc@shopin.com.
LEGAL DISCLAIMER: This document is not a prospectus nor a solicitation for investment and it does not pertain in any way to an offering of securities in any jurisdiction. All participants in the Shopin Token Generation Event must read the Terms & Conditions.