NEO TEAM BLOG
Antshares ICO Rules

2016/8/8 11:58:51

Wentao

Antsharess Blockchain

ICO Explained

 

August, 4th, 2016

 

Antshares Community QQ Group: 573816801

Antshares Twitter: https://twitter.com/Antshares

Antshares Subreddit: https://www.reddit.com/r/Antshares

Antshares Official Web: https://www.antshares.org

FAQhttps://www.antshares.org/faq

 

 

Introduction to Antshares Blockchain

Antshares Blockchain is the leading Chinese blockchain project as well as the only real-time open-source one. Antshares completed Phase 1 of its ICO in October 2015 and raised 2100 bitcoins. After 8 months of dedication, the blockchain industry is now in high-speed growth both at home and abroad. Antshares also enjoys significant progress with the efforts from the Antshares team as well as help from the Antshares community.

 

Nov. 2015, Antshares Testnet went online.

2016, Antshares became the most covered blockchain story among security brokers.

Apr. 2016, Antshares released the first and the only original consensus mechanism dBFT in China.

June, 2016, Antshares enters cooperation with Microsoft.

July, 2016--Onchain, Antshares’s Business Sub-Entity, became the first Chinese blockchain tech start-up to join the Hyperledger procject and is now applying to include Antshares in its code repository.

Aug, 8th, 2016, Antshares shall commence Phase II of its global ICO.

 

The ICO Object

The object of this ICO is the native token of the Antshares Blockchain Protocol—Antshares(ANS).

 

ICO Capitalization

This ICO accepts only bitcoins.

20 million ANS will be issued; in addition, a 4 million ANS weighted reward, amounting 20% and 4% of the total ANS respectively, or 40% and 8% of the volume in circulation of the first year.

This ICO does not have a pre-set price. The price shall be determined by the market.

This ICO has a weighted factor, which is higher when participated earlier; see more in CrowdOffering Reward Section.

To calculate: ANS received by a participant= (BTC invested by the participant/all valid BTC investment)*20,000,000*weighted factor. The ANS distribution will be proportional to the investment.

An Example of a participant receiving ANS.

Hypothetically, this ICO raised a total of 50 bitcoins. A participant, who invested 5 bitcoins in the first day of the ICO, shall be rewarded (5/50)*20M*120%=2.4 million ANS. See more about weighted scenarios in CrowdOffering Reward Section.

The minimum reward a participant could receive is 1 ANS, the remainders, if any, shall be rounded down. Thus, we may have excessive bitcoins. Check CrowdOffering Reward Section on that.

 

Fund Utilization

All funds raised in this ICO shall be allocated for the development and marketing of Antshares Project.

Antshares team shall report the accounting of funds to all ICO participants every 6 months, this timing may be advanced or delayed when in special times.

Funds raised shall be used for team expansion. We expect the funds raised this time could support the expanded team to operate for more than 24 months.

In order to better the management of the Antshares ICO funds, our team shall setup an independent entity to manage the funds.

 

How to Participate

Participants should visit Antshares.org during the ICO period. We accept bitcoins.

See Antshares ICO Steps for detailed information, including a tutorial on converting your fiat currency into bitcoin.

 

Duration and Timing

This ICO lasts for 31 days. It will begin on GMT+0 12:00 on Aug. 8th, 2016 (Mon.) and terminates on GMT+0 12:00 on Sept. 7th, 2016 (Mon.).

This ICO does not have a pre-set target amount, thus the deadline will not be advanced.

 

 

Refund Policy

We do have a refund policy should an over-funding scenario comes up due to the unlimited ICO funding target.

When the ICO terminates on Sept. 7th, 2016(Beijing Time), ICO participants could have the option of continuing or quitting based on the general conditions of the funds raised.

If a participant wishes to continue, he/she will not be required to do any extra operations; if he/she wishes to quit, a refund application should be submitted on www.antshares.org/ico anytime before the formal release of the Antshares Mainnet.

When a refund takes place, 100% of the bitcoins invested by the participant shall be refunded to the bitcoin address designated by the participant in his/her refund application.

The refund option will become unavailable upon the formal release of Antshares software, which is under development. The release date of the software is not determined yet but will not be within 7 days after the ICO termination, leaving adequate period of time for the participants deliberation.

All the bitcoins due in the refund process will be sent 30 days after the formal release of the software all together. The refund policy does not support a partial refund and is not revocable once applied.

Valid ICO amount and its allocations will be announced within several days after the formal release of our software.

Should a special occasion occur during the ICO, say, malicious refund leading to a 2/3 refund ratio, Antshares team reserve the right to proclaim invalidity of this ICO and refund all bitcoins raised.

 

 

Capital Security

The ICO is guaranteed by credited participants multisig to avoid self-investment and self-withdrawl cheating by the initiator of the ICO and to ensure the secured implementation of our refund policy.

Before the formal release of the Antshares software, all the ICO funds raised will be put into the custody via a 2/3 multisig, whose keys will be hold by the DACA Blockchain Association, HaoBTC and the Antshares team. The address in question will be open and transparent and available to anyone for scrutiny.

What this means is that the DACA Blockchain Association, HaoBTC and Onchain(Antshares team) will hold a private key each to this address. Before the formal release, any ICO fund movement or transfer will require at least 2 of these 3 keys to sanction.

This 2/3 multisig address is 3LZoBhKUJzuyk7w3aX5H4LdmopJ8m5aesv. (DO NOT transfer to this address. This is not the ICO participation address). ICO funds raised, which are in the form of bitcoins, will be periodically transferred into this guarantee address. This address has been generated by the Bitcoin Business-Grade Safebox of HaoBTC by all the 3 aforementioned parties.

 

CrowdOffering Reward

Weighted Reward

A 120% factor is rewarded to those who participate between Aug. 8th and Aug. 13th.

Beginning on Aug. 14th, the weighted factor will decrease by 1% each day until the termination of the ICO. For example, the factor will be 119% on Aug. 14th, 118% on Aug. 15th, 117% on Aug. 16th, and finally 100% on Sept. 2nd.

To exemplify with the reward: Hypothetically a participant takes part on Aug. 8th, with an investment of 5BTC, and the weighted factor on that day is 120%. Also, hypothetically the ICO ends up with a total amount of 50BTC. This very hypothetical participant will receive a total of (5/50)*20,000,000*120%=2.4 million ANS.



Rank Reward

Ranking by amounts invested, top 100 participants may receive rewards:

Reward A: 1 of the top 10, drew by lottery:
Round-trip air tickets, hotel allowances and admission fees to the New York Consensus 2017 International Blockchain Summit.

Reward B: 10 of the top 50, drew by lottery:
10,000 AntCoins, this could be used for advanced issuance of your digital assets. AntCoins shall be generated by the ANS held by the Antshares team.

Reward C: 20 of the top 200:

Two Books, Blockchain: Blueprint for A New Economy and Blockchain: from Digital Currency to Credit Society, both served with the authors signatures.

 

Remainders Reward Pool

As the ANS received by valid participants of this ICO will be rounded down, all the remainders will be stored in a Reward Pool. After the termination of the ICO, ONE lucky guy will acquire ALL the remainder ANS accumulated in the Reward Pool.

 

Community Bounty

This includes BTT, social media campaign and translation rewards. See Antsharess ICO Bounties on our blog.


The Distribution of ANS

After this ICO, all the 50M ANS (circulate since the first year) will be distributed as follows:



Restricted Circulation

The total amount of ANS is 100 million while 50 million of them are restricted in circulation. This 50 million ANS will be hold by the Antshares team but cannot be circulated in any way within 1 year after the formal release of the Antshares Blockchain while CAN be used for cyber security reasons of the Antshares Blockchain.

 

1 year after the formal release, this 50 million ANS (and AntCoins generated by them) could be used for the support of the Antshares Eco-System. Such support may include but not limited to Antshares-related crowdfunding sites, exchanges, wallets, gateways, developers, team incentives, marketing, advisors of specialized fields, etc. But they cannot directly be traded on an exchange.

 

In principle, the distribution of this restricted 50 million will not exceed 15 million per year.


Exit Mechanism

Participants of this ICO may exit in the following ways:

Sell ANS when open trade became available

Hold ANS for a longer term and receive AntCoins, sell these generated AntCoins

OTC Trade ANS and AntCoins


RisWarnings

ANS is the native token of Antshares Blockchain and is not or cannot be deemed to be any kind of equities of any real-world company.

This Initial CrowdOffering is about products, not equities.

Blockchain industry is bourgeoning and may contain technological, policy-wise and market-wise risks

The date of the Antshares formal release is yet to be set; once released, participants shall not apply for refund of the invested bitcoins for any reason or in any way

  • doktor1897 SAYS:
    good project for ico
    2016/8/19 17:51:51
  • lonerusher SAYS:
    Nice Project!
    2016/8/23 12:15:26
  • nooler SAYS:
    how can we access our shares if we do not have a windows computer
    2016/10/21 3:02:11
  • felipeD7 SAYS:
    exelent.... up up
    2017/8/12 22:16:54

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