BitCar ICO — Exotics Peer to Peer Trading Platform on Blockchain
In a disruptive and innovative world first, BitCar opens direct ownership of this asset class to the public for the first time. Verified Agents will source, acquire and store Exotics, as well as display them. After a 5 to 15 year term, they will be sold with the returns passing back to the asset token owners. During the term, Platform users can peer to peer trade their interests without an intermediary in a trustless manner.
BITCAR tokens provide the utility to the decentralized BitCar Platform (Platform) and allows access to the second order token for acquiring and peer to peer trading the tokenized Exotics as well as being used in an incentive scheme, that is set up to reward parties marketing the Ecosystem.
Control over fractionalized or tokenized Exotics will remain with the token owners, who will be able to democratically vote on matters relating to their ownerships, such as liquidation dates, displays of their car etc. This is relatively simple from a technical perspective given that blockchain technology is at the heart of the fully decentralized Platform.
The asset tokens linked to Exotics are decentralized and exist as their own Ethereum smart contracts and interface with the master contract that transacts the exchange of BITCAR and cryptocurrency, facilitating ownership transfer and securely linking the components for ownership and tradability together on the Ethereum public blockchain. These asset tokens are called CAR tokens and each Exotic car will have its own CAR tokens.
Token Generation Event Pre-Sales
Pre-sales: SGD $6,500,000
Pre-sale Tokens: 75,000,000 BITCAR tokens (rounded to nearest million)
Token Generation Event Main Sale
Main Sale Tokens: 175,000,000 BITCAR tokens
Token Price: USD 10 cents per BITCAR token
TGE Maximum: Approximately USD $22 million
Token Supply: 500,000,000 tokens
TGE Supply: 251,500,000 tokens (includes bounty of 1,500,000)
TGE Duration: Starts 3 PM Singapore time 31 January 2018 up until 20 April 2018 (unless sold out earlier).
Token Mechanics: Fixed Price Structure
the bitcar Team here: https://bitcar.io/#team