We sold about 3Billion tokens in pre-ICO to raise about $1.5 million. We believed these funds were enough to complete major development.
We are shortly going live with tradefinex.org which is a peer to peer financing platform for communitites, enterprises and Governments to eliminate trade inefficiencies using XinFins XDC01 Hybrid Protocol. The Hybrid state maintains private and public state on the same network. This is particularly important for sensitive financial data and projects.
We will be releasing 7 Billion tokens in phasewise manner to evolve the XDC protocol for decentralised peer to peer financing.
XinFin is evolved from ethereum platform due to which we are able to code smart contracts for allocating XDC token payouts for validator nodes. So they dont have to burn electricity. Validator nodes also need to hold certain amount of XDC in escrow.
10 percent tokens are in hedge pool that provides intrinsic mechanism for price stability in trades in volatile markets.
Here is token distribution:
25% for core team - in escrow
10% for phasewise ICO of which 3% have been sold to pre ICO. 7% to be released in phasewise manner for evolving Blockchain.
15% for Long term organisational hires
5% for humanitarian
10% for hedge pool for intrinsic guarantee on trades
35% for master nodes allocated using smartcontracts. Master nodes are available for institutions and financiers who risk their capital for financing.
Total coins: 100,000,000,000 XDC
Pre-mine : 100% (80% in Escrow)
What is your distribution plan? I want more info about the escrow and the other 20%.
Block time: 1 second
How would you convince miners to spend their powers on your coin when it's 100% premine and they will get only transaction fees?!
