EGM is a token with payment that gives the token holder the right to a percentage of net income from mining, cloud mining, and hosting operations. Profits will be paid on a monthly basis which allows ordinary people to take advantage of cryptocurrency mining.
Initial Token Offer (ITO)
The aim of ITO is to raise sufficient funds to cover the initial costs of operations. This is also to distribute eGM tokens to token buyers so that they can begin to get a share of mining profits. The eGM tokens play an important role in receiving your share of cryptocurrency mined.
There will be a total of 25 million eGM tokens. 20 million tokens will be publicly available through pre-sales & ITO and 5 million other tokens will be distributed among directors and advisers.
Directors will be held in escrow wallets for two years and they cannot sell more than 50% of their tokens per year since then. They must divide 50% into monthly sales (4.16% per month) and report the sale of their tokens for our monthly public accounting reports.
After a period of four years, directors were permitted to freely sell all their EGM tokens one week after reporting their sales intentions. Advisers can sell all their tokens after two years of holding but must first report the intention of the sale to the company.
There are three softcaps for the project: $ 8 million, $ 12 million, and $ 20 million. The first softcap is the minimum amount needed to start a profitable operation.
The second softcap is the amount needed to meet the projections set out under ‘Projections and Returns on Investment’, below.
The third softcap is the amount needed to buy land, build a warehouse, invest more, and buy more ASIC miners.
With a larger number of startups, we will be able to eliminate a lot of costs in the future and will be able to buy more to support the eGM tokens.
Prices per token will be determined at the time of ITO completion. The reason for this is a bonus from the presale and referral program that must be calculated into the overall price of the eGM token.
ITO Budget Requirements and Allocation
- Soft Cap 1 = $ 8 million
- Soft Cap 2 = $ 12 million
- Soft Cap 3 = $ 20 million
- Hard Cap = $ 50 million
- Calculations are based on mining difficulties 8/02/2018 (subject to change)
- Calculations are based on Soft Cap 2
- Energy level ~ 4.5c / kWh
- Energy costs can change based on the market for natural gas
- The energy level will range between 4c-4.5c / kWh
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