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Saturday, 5 May 2018

Question Answer.. Continued.


Question by zedrat (English Translation): Is the increase in total number of coins from 151 million from the pre-sale + bounties to 270 million after issuing 119 million in the ICO, something to be alarmed about?

Answer: Today the price of SWTC on the waves platform is USD 0.000576144 (0.00008002 WAVES) as per the last traded price (6 May 2018). It keeps varying daily of course. I am just considering the last traded price for our calculations. By going for the ICO and offering 119 million coins to the large investor community on Yobit at a price of USD 0.05 we gain a 100 times (10000%) price advantage over what it is today by issuing just 1.78 times the existing amount (270/150 = 1.78) and this can possibly reduce to just 1.45 times if we succeed with our buy back and coin burn to reach a total number of 220 million. 

Though nothing has been decided yet, if we do this and if we succeed with the ICO, it is a huge advantage to us and a great financial success in just less than two months! 

This advantage for us is not just in terms of the price advantage but also in terms of additional funds generated for the project and getting listed in an actively traded exchange offering huge exposure to out project. Do remember that the thousands of investors who are on Yobit also become  potential buyers for our Pocket Miners thereby generating huge sales in the months of Oct, Nov, Dec 2018 before our quarterly airdrop on Jan 2019 leading to a further increase in our coin price!

We committed to 150 million during our pre-sale and we did our pre-sale well with in that limit. Same way if we do the ICO and commit to 119 million for it we will surely not exceed that value!

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