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Friday, 4 May 2018

Continuation of An Idea to Use SWAT!

Check this screenshot from Yobit about the different options of ICO that are available.


From among the various options we choose the 100% Buy Wall option which does not have any pre-pay requirement. What is this buy-wall? If you see the last ICO on Yobit it was for TAXI which was on 21 Feb 2018 and used the 50% buy-wall option with a 0.25 BTC upfront payment requirement. A 50% buy wall means there will be a buy wall created at 50% of the the ICO price using the BTC collected from the ICO.  

This has lesser risk than the 100 % buy-wall option because in four days (that is time of lock in peroid for getting our ICO money) the is a very less probability that the price of the coin will drop below 50 % of the listing price. With the 100% buy-wall option the wall will be created at the actual ICO price and if the price drops below the listing price of the ICO the money collected during the ICO might get sold into and thereby reduce the BTC available to us after the four day lock in period!

We are targeting a price of USD 0.05 for the ICO, which works out to 519 Satoshi in BTC terms 0.00000519 BTC. During our initial discussions we had decided we will go for a BTC fork to get the participation of BTC holders and offer them an airdrop of the forked coin in the approximate ratio of 15:12 to get a good price for our coin. We dropped that and went on directly with the current idea. Now with this bold option we are choosing to go with let us offer 119 million SWAT for the ICO at a price of 569 SAT taking in to consideration the 10% fee we have to pay to Yobit post the ICO.

This works out to 119000000 x 0.00000569 = 677.11 BTC of which 67.711 BTC will be Yobit's fee. If everything goes well what we are left with is 609.399 BTC. This will take our project to a different level. We would have also raised our coin price to more than USD 0.05. 

Already there are investors who wish to distribute our Pocket Miners in Russia, Nigeria, Vietnam, the US, Italy, Malaysia, Korea and India. We can ramp up production of our Pocket Miners, advance our release dates and take our coin to a much higher level much sooner than the earlier landmark dates.

In case the the ICO doesn't succeed Yobit will burn the coins and we just lose the cost of having developed the SWAT version of the coin. I don't think this will happen. We should take this risk with our SWAT coin is my stron belief. The success of the ICO depends on two thing. One is Yobit accepting our application for ICO and the second investors not selling our coin below ICO price. Since the investors on Yobit are looking for good ICO's an if Yobit accepts this it will be the biggest ICO on Yobit till now with a good fees of 67.711 BTC fees, there is a strong possibility of Yobit accepting this ICO. We can offer good discounts during of pre-booking of Pocket Miners for investors who buy more than 10000 SWAT during the ICO and hold it till September 2018 to motivate investors not to sell SWAT after the ICO!

Looking forward to receiving your feedbakc and suggestions! I am sure every one in our community has the courageous to take a bit of risk to achieve greater things soon! 

Cheers Everyone!

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3 comments :

  1. We don't need another ICO ... I still prefer a fork of bitcoin 3/1 BTC. We have a good roadmap. Please, do not change anything.
    Also, SWAT or SWTX ? SWTX is better.

    ReplyDelete
    Replies
    1. Thanks for your suggestion and for your feedback.

      Delete
  2. I also wonder if another ico is necessary.
    Of course, let's assume that the ico of the yobit exchange succeeded as you think. So is 607bitcoin a profit?
    It has the advantage of developing a better coin for that bar. However, even if you look at the taxi that succeeded in the ico of the yobit exchange, it has now fallen to half the price of ico.
    And look at other ico coins. Even transactions do not happen. There are also a lot of coins whose prices are down to one tenth.
    I do not trust yobit. Our pre-sale was successful with yobit code, but yobit is more stock exchange than merit.
    Bitcoin forum asks you to get away from the Yobit Exchange as soon as possible.
    I respect your opinion. But please consider it again.

    ReplyDelete

 
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