The birth of Ethicoins
Do you know how a certified smart contract operates?
Do you know why the tokens are outnumbered?
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Ethicoins’ ICO campaign is based on a well-defined time frame, which is enclosed in a precise time period of one day of launch and one day of end, starting on 1st,November, 2020 and ending on 30th,June, 2021.
It is managed remotely and monitored by Ethicoins’ smart contract, which is based on IT protocols that facilitate, verify and enforce the negotiation and execution of a specific agreement. The smart contract in this case concerns the delivery of Token in the amount voluntarily requested by the user, with an increase, defined as a bonus, in accordance with the previously scheduled time schedule.
The smart contract was further divided into 3 specific time periods of sixty (60) days each:
The first cycle corresponds to the initial phase, in which all members who believe in the project from the very beginning participate. For this reason, the smart contract guarantees an increase in the amount disbursed equal to 50% of the Tokens due.
The second cycle is in an adjustment phase, since the project is already underway, which is why it will increase the quantities purchased by 25%.
Finally, the third cycle is defined as a consolidation, generating an increase of 10%.
It is important to note that, in addition to a time span, the smart contract has also been set on the quantities of Tokens supplied, since for the sustainability of the project, Ethicoins’ Business Plan foresees that in the first cycle the saleable quantity is a maximum of twenty million Tokens, in the second cycle a maximum of eighty million Tokens, while in the third cycle a maximum of one hundred million Tokens.
Finally, two very important values must also be considered for the realization of the project, first of all the softcap, which must be equal to eighty-seven million five hundred thousand euros, reached by the end of the ICO campaign. This economic figure identifies that the project is financially covered and all the essential projects will be feasible. Instead, the hardcap equal to one billion euros, identifies that the maximum amount that can be collected has been reached, all the tokens that can be disbursed have been distributed and therefore the project can be realized in all specific sectors.