Simple Token officially announced final details of its upcoming public token sale, which opens on November 14, 2017. Additionally, the company announced relationships with a number of world-renown individuals and organizations, which will serve in both support and advisorial roles to the company. Advisors hail from the Blockchain, consumer Internet and corporate environments and are based in key locations worldwide.
Creating a Best-in-Class Platform, Token Sale and Simple Token Ecosystem
Simple Token founder and CEO Jason Goldberg explains that from the beginning of the Simple Token project the goal was to be an example of a professional, responsible, “best in class” platform and token sale. To that end, he notes the following points:
- They partnered with King Wood & Mallesons & Perkins Coie on legal and regulatory matters and sought out legal opinions in numerous jurisdictions.
- They are taking great efforts to ensure that ST is a utility token, with definable utility and use of ST prior to token sale and distribution.
- They engaged three security auditors, Zeppelin Solutions, Cure53, and Bok Consulting to audit their smart contracts.
- They partnered with a “Big 4” firm on tax, governance, reporting, and transparency.
- They partnered with Smith & Crown to dive deep into Simple Token token economics and modeling.
- They established a Board of Directors for the OpenST Foundation with 5 directors including 3 non-executive directors.
- They publish all of their work on their website, including their entire pitch deck, their technical white-paper, and a series of side papers that go deep into very specific ST topics.
- They have published their token sale smart contracts on GitHub, and are in the process of publishing their project code on GitHub within next 24 hours.
- They are highly responsive in Telegram channel, making sure that every potential buyer-customer of Simple Token gets their question answered promptly and substantively.
- Theyve secured meaningful advisory board relationships that add value to the project, as described in detail below.
Sale Details – Finalized Token Sale Price at $0.0833 per token, $20M hard cap
Simple Token (“ST”) is being designed as a utility token. Purchasers need to acquire ST in order to access protocols that will enable them to create their own branded tokens powered by ST. As such, the pricing of ST, as with any utility, is a very important topic.
The upcoming first Simple Token sale event on November 14, 2017 (commonly known as an “ICO”) is required for two reasons:
Because the OpenST Protocol requires staking ST to create Branded Tokens (“BT”), we need to first create ST and have some value placed on it by purchasers of ST.
So that we can create an endowment for the community ecosystem. 27.2% of the ST token supply is intended to be reserved for what we call the Network Accelerator Program. This will be used by the OpenST Foundation Limited (“OpenST”) to seed projects, developers, and teams that are building interesting use cases based on ST. In this manner we can become a seed program/accelerator for a new generation of apps launching branded token economies.
CEO Goldberg commented:
“In keeping with their “best in class” ethos, today the company announced an important revision to the token economics for their first token sale.” Simple Token is taking this decision for two reasons:
- -They want to show responsibility and accountability towards the community and ecosystem we are developing and only take as much funding as we require for the next phases of the project;
- -They believe this decision prices ST correctly and fairly for their customers at the launch of the OpenST protocol.
“Here are the token sale details, and we think their customers are going to like them,” noted Goldberg. “And I’m always available in our Telegram channel to answer any questions.”
They have set the initial price for Simple Token at $0.0833 per token (vs. the previously marketed $0.1667) and we have lowered the hard cap to $20M vs. the previous $40M.
30% of the 800,000,000 token supply will be sold for $20M. This is more than enough revenue for us to accomplish their near to medium term plans. Our early backers, who have already purchased several million dollars worth of Simple Tokens in pre-sales, are supportive of this move.
Building a World-Class Team of Advisors
Also today, Simple Token also announced many of the members of its extended Advisory Board. Simple Token CEO Jason Goldberg commented: “They have carefully selected advisors who are helping us bridge the gap between the crypto world and mainstream businesses and startups. All of their advisors are playing an active role and working closely with their teams to refine their technology, token economics, and market development efforts. They will also be announcing additional technical advisors in the comings days.”
Simple Token Advisors announced today include:
- Trent McConaghy. Trent likes to build things that matter for humanity in the long term. He’s working on democratizing data. This is via Ocean decentralized data exchange protocol & network, BigchainDB & IPDB Blockchain database protocol & network, COALA IP protocol, and advising the Estonian E-residency program. His long-term goal is to help ensure that humanity has a role in an increasingly autonomous world.
- Brian Lio. Brian is the founder and CEO of Smith + Crown. He is the Chief Research Adviser to the Digital Chamber of Commerce’s Token Alliance and a Fellow at the Singapore University of Social Sciences. Previously, he founded the Bright Iron Group, a design, strategy and user experience consultancy based in NYC and has held positions at Microsoft and DDB.
- Allen Morgan. Allen has been deeply-involved with technology startups for more than 35 years. He is an early-stage investor and startup advisor. He also serves as Managing Director, New Ventures Group, at Idealab, where he is on the Board of Directors. Previously, he was Managing Director at Mayfield Fund. Prior he was a partner at Latham & Watkins and Wilson Sonsini Goodrich & Rosati.
- Jehan Chu. Jehan is co-founder and Managing Partner of Kenetic Capital (formerly Jen Advisors), one of the first Blockchain Venture Capital and Cryptocurrency Funds as well as Token Sale Consulting in Asia. An early investor in crypto-currencies, Jehan Chu founded Ethereum Meetup Hong Kong and grew it from 5 persons to over 1,100 and hosted >60 Blockchain events including Ethereum Founder Vitalik Buterin 7 times.
- David Bohnett. David is a philanthropist, technology entrepreneur, and the founder of early stage private equity firm, Baroda Ventures. David began investing in digital currencies and crypto companies in 2014. An internet pioneer, in 1994, David founded GeoCities.com, once ranked one of the ftheir most trafficked websites in the world. GeoCities became publicly traded on NASDAQ and was acquired by Yahoo!
- Sebastian Quinn-Watson. Sebastian is a partner at Blockchain Global leading the Blockchain marketing and advisory business. He has advised on a number of successful and market leading projects such as Viberate (sold out in 45 seconds), Bankera (largest presale in history), Powerledger, Etherparty, Playkey.io, Airswap and others.
- Gary Nuttall. Gary is well recognised in the Blockchain / Distributed Ledger Technology arena, with particular expertise in the commercial insurance and legal sectors. He is a founding partner of Team Blockchain, a global virtual consultancy practice and sits on the TechUK DLT Working Group. He writes articles for magazines and thought leadership blogs with a particular emphasis on Blockchain.
- Chris Dark. Chris is President International at C2FO. Based in the C2FO Hong Kong office, Chris is responsible for C2FO business in EMEA, Asia-Pacific and LATAM. Prior to C2FO, Chris held key leadership positions at Atomico, AOL (advertising.com) and Bain & Co. Chris is a former entrepreneur and the Founder of GameReplays.org, an early eSports community founded in 2002.
- Daniel Weinberg. Daniel has over 20 years’ experience in financial trading & technology. He was a Senior Partner of Optiver APAC and founding member of the Optiver Global Foundation board. He is also a member of the Derivatives advisory committee for the Hong Kong, Singapore and Korean Exchanges and an adviser to a number of businesses spanning multiple industries and jurisdictions.
- Thomas Power. Thomas is a cutting edge Board Member to numerous companies involved with Bitcoin, Ethereum, and Ripple, deeply connected in Silicon Valley, NYC, London, Australia, New Zealand with over 200,000 Twitter followers since March 2007. Raised and sold over £1bn since 1980. Focused on AI Big Data Bitcoin Blockchain Crypto Ethereum FinTech ICO SaaS Social Media Tokenomics …very Geeky, Social and Likeable.
- Adam Jackson. Adam is a technology entrepreneur and investor obsessed with creating beautiful and intuitive software. Currently an active investor & advisor to early Blockchain projects. Prior he was CEO and co-founder of Doctor On Demand. Previously founded DriverSide and MarketSquare. Angel investments include: Bolt, Placer, Aktana, Rapportive, MyTime, Automatic, Womply, Superhuman and Zenefits.
- Matt Chwierut. Matt Chwierut is the Research Director at Smith + Crown. He guides a research team in evaluating new cryptocurrency protocols, authoring briefing memos on key emerging topics, and reviewing countless white papers and is a Fellow at the Singapore Institute of Management. He holds degrees from University of California Berkeley and Stanford University.
- Tony Evans. Tony is a specialist in fiat and crypto currency based in Tokyo, Japan, with over 12 years experience in Asia. Tony has over 14 years’ experience in Europe and Asia in the finance industry from client facing, portfolio management, to managing teams.
- Korea’s Online Banking Security Get’s a Blockchain Powered Upgrade – November 3, 2017
- Simple Token Announces Advisory Board, Token Sale Milestones – November 3, 2017
- Energi Mine Launches Blockchain-Based Platform to Reward Energy Conservation with Cryptocurrency – November 3, 2017
- DMarket Launches Product Alpha/DEMO – Extends Token Presale – November 3, 2017
- AdHive, a mass-scale native video advertising platform announcing ICO – November 3, 2017
- Play4privacy: Playing On The Blockchain To Raise Money For Privacy – November 3, 2017
- Kochava Introduces Blockchain-Based Digital Advertising Platform – November 3, 2017
- Caviar Announces Real Estate and Crypto Backed Token, Crowdfunding Platform. Pre-Sale Begins November 28, 2017 – November 2, 2017
- FundRequest launches a Blockchain Incentive Platform for Open Source Projects – November 1, 2017
- TetzelCoin Launches SIN Token to Tokenize Forgiveness – November 1, 2017
- STK Global Payments Launches Pre-sale – November 1, 2017
- Play2Live – Decentralized Streaming Platform for Gamers and eSports Fans Announces Token Sale – November 1, 2017
- BookMaker.eu Becomes First Online Gaming Industry Site to Accept 60+ Cryptocurrencies – October 30, 2017
- Ammbr and Verif-y Cut Deal to Bring Self-Sovereign Digital Identity to Emerging Markets – October 29, 2017
- Telegraf Money ICO – The First Interactive Auction ICO – October 28, 2017
- Cashaa Partners with Airbitz for Secure and Speedy Global Payments – October 28, 2017
- Russian Vnesheconombank And UETP Trading Platform Signed An Agreement On Development Of Europe’s First Blockchain Based Project In E-procurement – October 28, 2017
- Storj Labs Announces STORJ Tokens Now Listed on Poloniex Exchange for Trading – October 28, 2017
- Healthbase – The Launch Of A New Blockchain Project Promising To Advance Health Research – October 28, 2017
- Seeds Token Sale Lets You Ask the Blockchain for Help – October 28, 2017
- Templum Raises $2.7 Million to Launch Platform for Regulatory Compliant ICOs as Securities – October 28, 2017
- Crypto Derivatives Exchange WandX to Launch Token Sale – October 28, 2017
- LiveTree Announces Token Sale for Community-Powered Film, TV and Content Network based on Blockchain Technology – October 28, 2017
- MailTime Hits 5M Downloads, Launches MDT Token to Reward Users for Sharing Data – October 28, 2017
- Enigma and KyberNetwork Partner To Expand Blockchain & Crypto-Asset Adoption – October 28, 2017
- PUBLIQ Reveals How Blockchain and AI Can Fix the Issue of Fake News – October 28, 2017
- Bancor Welcomes Second Smart Token – STORM tokens join network for autonomously convertible cryptocurrencies – October 28, 2017
- Etherisc Launches Blockchain-powered Flight Delay Insurance For Devcon 3 In Mexico – October 28, 2017
- Decentralized Bank-as-a-Service Enterprise, BANKEX, Announces Balanc3 as Advisor – October 28, 2017
- Russian Bank to Offer Cryptocurrency Exchange to Fiat for Russians – October 28, 2017
- KyberNetwork and WAX Announce Partnership – October 28, 2017
- TaaS Fund Backs Up Neuromation, The Universal Marketplace Of Neural Network Development – October 27, 2017
- Singapore Retail Group iFashion Closes MegaX Token Presale – Raises over USD $2M – October 27, 2017
- Bloq Announces Metronome: World’s First Cross-Blockchain Cryptocurrency – October 24, 2017
- Charity Meet & Greet with Ronaldo Auctioned for Bitcoin – October 24, 2017
- Bitcoin Nonprofit BITGIVE Launches GiveTrack Beta at Money2020 – October 24, 2017
- Blockchain LegalTech startup Agrello partners with online-id verifier Veriff – October 24, 2017
- Under 1 in 10 Post-ICO Tokens are Actively Used – October 24, 2017
- Grid Foundation unveils an Enterprise ‘Cloud Operating System’ for All Blockchains – October 23, 2017
- Cashaa welcomes Central bankers, MIT scientists and Fortune Top 500 Leaders for its CAS token sale – October 23, 2017
- Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power – October 22, 2017
- Brickblock And Nakamo.to Announce Partnership To Fuse Real-world Asset Trading With The Potential Of IOTA’s Tangle Network – October 22, 2017
- Wirex inks deal with SBI Holdings to establish Asia focussed joint venture – Japanese cryptocurrency payments card expected soon – October 22, 2017
- CrowdWiz successfully raises over $5 million in its pre sale to bring democracy to investing by cutting out the middleman – October 22, 2017
- Soma – launches ICO to tackle marketplace fraud and disrupt the $1.7 trillion global second-hand goods industry – October 22, 2017
- LiveEdu.tv Launches ICO and Announces Presale – October 22, 2017
- Yetta announces ICO of European Commission funded Blockchain Research and Development – October 22, 2017
- Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain – October 19, 2017
- Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE – October 19, 2017
- Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime – October 19, 2017
View All Articles