Simple Token ICO
Simple Token empowers any company — from a global brand to an emerging app maker — to issue what we call “branded tokens” that can transform its business into a dynamic economic ecosystem. No complex programming. No perilous ICO. No cross looks from regulators. We take care of all the hard work. Using Simple Token is designed to be as easy as accepting credit cards by integrating with an online payment service like Stripe or PayPal.
ICO Status: Finished
Simple Token [“ST”] is an Ethereum-based EIP20 token and OpenST is a protocol to support token economies in mainstream consumer applications. The business and technical challenge we set out to solve is to enable mainstream consumer applications to benefit from deploying their own branded crypto-backed token economies, in a scalable and cryptographically auditable manner, without needing to ICO, mint and maintain their own publicly-tradeable EIP20 tokens. The OpenST protocol enables the creation of utility tokens on a utility blockchain while the value of those tokens is backed by staked crypto-assets on a value blockchain. We couple that with a robust software suite for app developers to manage their token economies without their developers having to be blockchain experts.
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1 ST = US $0.0833
|ICO token Distribution:
30% of the token supply will be sold in this first token sale, 27% of the token supply reserved as grants for promising projects (and their teams) building branded economies on Simple Token, 20% of the token supply locked in smart contracts and reserved for future token sales, 12.8% for advisors and early backers, on long term vesting schedules, 10% for the founding team, on long term vesting schedules (3 years min).
Simple Token holds a total of 800,000,000 STs. This will be a finite amount with no ability to mint more.
Simple Token [ST] is a utility token. ST serves several roles to different actors in the Simple Token Ecosystem. Member Companies: For Member Companies, ST is needed to request and maintain membership in the Simple Token platform, issue Branded Tokens, and to collateralize their branded token economy. As a member of the Simple Token platform, companies holding Simple Token can provide input on platform development, including future features for the ecosystem and token economics. Member Companies can develop other uses for Simple Token, though they are under no obligation to do so. Membership in the Foundation platform will require both an amount of staked STs and an ongoing membership fee, paid in STs. The staked STs serve as a membership stake and can be claimed if a company breaks any rules of membership, such as not maintaining their collateral contract or allowing illegal activity. Pricing for membership and rules of membership will be determined by the Foundation. STs are required to issue BTs on Member Company sidechains and will initially comprise the collateral that backs the BT economy. To the extent Member Companies wish to diversify the collateral backing their branded tokens using third-party services or modules yet to be developed, they might be required to keep a minimum percentage of the value of their branded token in Simple Token. See memo on Branded Token Price Stabilization for more information. The token is designed to be used and held by Member Companies. This helps ensure that Member Companies are long-term stakeholders in the value of Simple Token itself. Initially, Simple Token is primarily a business token: companies will acquire it for membership and to enable their branded token economy. As the platform evolves, Simple Token may take on additional uses. Individuals: For individuals, Simple Token could serve as a payment token needed to create new branded tokens on Member Company platforms. If a user acquires Simple Token independently of Member Companies--for example, purchases it from someone else-- they can use it to mint new branded tokens on a Member Company platform. Member Company users could have the option of a hard exit from the ecosystem if they wish. Their accounts on the sidechain will contain information needed to claim a portion of the collateral supporting the branded token. It is expected that users wishing to exit will interact with an intermediary, who could supply them with any currency the users wish, but users will always have this option. As the smart contract on the Ethereum public chain will not be openly accessible, ST holders wishing to mint new BTs on the sidechain would need to go through an intermediary to do so. Consensus Contributors: There are additional functions that Simple Token holders could play as the ecosystem grows, though these functions may not be necessary in the early stages of the Simple Token network growth. One example is that ST holders could serve as a price oracles to help in converting STs to BTs or calculating the fiat value of assets held as collateral for a given branded token economy. These are possibilities the Foundation will explore.
|We are not aware of any companies or organizations working on the Simple Token approach to combine (a) an ERC-20 token with (b) a protocol for launching and managing branded tokens on scalable open side-chains, and (c) a robust user-friendly software suite for consumer-app tokenization.|
Initial Coin Offering
|ICO Launch: |
14th of November 2017
1st of December 2017
ICO Tradable on Exchanges since:
still not tradable
|Platform: Ethereum (ERC20 Token)|
Team behind Simple Token
Director & CEO
Jason Goldberg is a veteran internet entrepreneur with a 18 year history of scaling products to millions of users. Since 2016 Jason’s passion has been to drive mainstream consumer adoption of blockchain technologies. Jason splits time between Berlin, Germany, Pune, India, and Hong Kong.
Director & CTO
After a year of traveling around the world, Nishith Shah has immersed himself into crypto-economics and blockchain technology. Nishith previously founded several consumer internet companies including Hem.com, Fab.com, Fabulis, socialmedian, True Sparrow and Montred. Nishith is based in Pune, India.
Chief Technology Strategist
Benjamin Bollen is a physicist working to build decentralized computing systems since 2009 both in theory and as a developer. Throughout his work Benjamin has been driven to empower people worldwide with open technology. With Simple Token he joins an effort to bring crypto-currencies to millions of people. You can find Ben in Berlin, Germany, Brussels, Belgium and Pune, India.
Paul J du Plessis
Director Market Development
Paul J du Plessis has 10 years experience building technology for enterprises and growing startups in fintech, insuretech and blockchain technology. Paul joins Simple Token’s mission and open approach to democratizing tokenization for consumer apps as the business development lead working closely with the member companies launching their own branded tokens on the Simple Token network of networks. You can find Paul in Berlin, Germany and Pune, India.
From D.C., Jason Banks (“Banks”), enjoys living in big cities and working on complex projects. Prior to joining the tech industry as a software developer in Berlin, Banks practiced law, primarily capital markets and finance, for Shearman & Sterling in New York, Paris, and London.
Lionello is an engineering lead and community organizer with EE and CS background and 20 years of international industry experience doing software and hardware. Having worked on a wide range of projects, in startups and multinationals, he has accrued broad expertise in areas such as virtual reality, e-commerce, cloud computing, IoT, and blockchains.
Visit simpletoken.org for more info.
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Categories:Initial Coin Offering