Soft Cap and Hard Cap Saturn Black. Token Sale or ICO?
The Saturn Black team received a lot of questions on the minimum and maximum amounts of raising funds at Token Sale. It’s time to clarify this issue. We answering now.
The minimum amount required to launch Saturn Black platform is $ 1,000,000. This is the money that will be spent on product refinement, legal support and maintenance of staff. For current date, the project has collected less than this amount, but this does not prevent us from working. We started to implement the platform with our own funds and are ready to submit the first demo version of the atomic exchange on December 12, which we wrote earlier.
We are negotiating with several private investors and funds on investing in the Saturn Black platform. It is planned to collect the Soft Cap on the Pre-sale stage, but maybe we will do it earlier. Receiving investments has a serious legal basis and at the moment we are completing the preparation of documents.
As soon as Saturn Black reaches the Soft Cap amount, we will report it.
Based on the model of issue and distribution of XSAT tokens, you can easily calculate the Hard Cap. It is equal to 93,750,000 $. These are 750,000,000 XSATs offered for purchase, multiplied by the maximum price of the token at the Token Sale Public stage of $ 0.125 for 1 XSAT. We wrote about it in White Paper.
Token Sale or ICO?
We issued XSAT tokens and distribute them in exchange for payment immediately after receiving the payment and checking transaction. The number of tokens will remain fixed and equal to 1,000,000,000 XSAT. The distribution model of tokens for the Bounty Campaign, Sales, Team and Development will remain unchanged. There will be no additional issue of XSAT. In the case of partial non-distribution of tokens at the Token Sale stages, we will leave the possibility of purchasing tokens within Saturn Black services, in exchange for all the assets, the list of which we will get by the end of Token Sale.
The Saturn Black team will maintain communication with the community at all stages of the implementation of services. For example, we are now conducting a “Big Crypto Voting” to identify demanded crypto assets for adding them to the trading list of the platform.
Usually if ICO does not collect a sum of money that exceeds the declared minimum (Soft Cap), then the project does not even begin to be implemented. Our team started working with the project before the sale of XSAT tokens. Therefore, the sale of tokens is already part of the implementation of the project idea.
Summarizing, we get the Token Sale model of the Saturn Black platform. Saturn Black is not an ICO. Saturn Black is Token Sale.
Our ultimate purpose, as it always has been, is to increase the liquidity of low-liquid markets and our team will rely on this idea in making decisions regarding XSAT tokens and the platform future. In our work, we rely on the idea of decentralizing Bitcoin as true value.