The VIB was sold out in under 5 minutes in our public crowdsale and a lot of potential contributors stayed out. Now you can get VIB tokens from October 6 on Livecoin.net exchange. We are negotiating listings on other exchanges at the moment and will update you on the progress soon.
|Role of token:||Community rewarding, platform payments|
|Token supply:||200 million|
|Distributed in the crowdsale:||120 million (60%)|
|Initial value:||1 VIB = 0.1 USD|
|Sale period:||SOLD OUT|
|Token distribution date:||5.10.2017|
|Maximum cap (approx.):||$12.000.000|
|How funds are held:||Multi-sig wallet held by team council|
|Unsold tokens policy:||Transferred into marketing budget|
|Minimum viable product:||Viberate 2.0|
|Time||Bonus||Current price in ETH|
The contributions will be used for product and technical development, management, operations, marketing, sales and PR and international expansion. If we do not reach the envisioned amount, we'll rely on operating profits and scale down our operations to remain fully functional for the next two years.
The majority of tokens will be sold in a crowdsale to secure funds for further product development, operations and international expansion. More details in our whitepaper.
A portion of tokens will be held by project founders and the rest of the team, that helped to bring the project to life with their hard work and dedication.
Awards to our advisors and ambassadors that helped the project with their knowledge and expertise.
A share of tokens for early stage investors, true believers, who showed a lot of trust and provided rocket fuel for our idea.
A percentage of tokens for the initial stocking of the bounty pool. Bounties will be awarded to contributors, who help build and curate our database of entities.
Reserves for future partners, that will join the project in later stages.
The majority of Vibe tokens will be available in a public crowdsale starting on 5.9.2017, with a minimum investment goal of $1.000.000 and a maximum investment cap of $12.000.000. All funds raised will be held in a multi-sig wallet held by team council. Our team membes and initial investors are fully devoted to the project and take great passion in participating in this live music revolution. That's why all tokens, allocated to Founders and Team (16%) will be held in multi-sig wallets and reverse vested for 24 months with monthly cliffs. Because all our tokens are pre-mined, we've also set aside a portion of tokens for future partnerships (7%). One of the main purposes of the Vibe token is enabling the growth of the service, which is why 5% of tokens will be allocated to a bounty pool intended to reward community efforts.
We strive to deliver our features as comprehensive as possible, which is why we made product and technical development a priority of our operations. This decision is strongly reflected in our financial strategy, that is divided into two phases. While the funds collected in the first phase will cover the development costs, the second phase is mainly intended to cover marketing operations. Unsold tokens will be transferred into the marketing budget. Tokens will be locked into a smart contract and accessible after one year, when the global marketing campaign will begin. The lockdown is to prove the investors we believe in the value of the Vibe and as reassurance that the tokens won’t be sold immediately and will be spent only for the marketing and sales activities. In case the crowdsale does not reach the envisioned amount, we'll rely on operating profits to fuel growth. Our operations will be scaled down to extend the runway far enough to achieve most of development and marketing goals we've set and to remain fully functional for the next two years.
Our main goal in the first phase of Crowdsale is to provide funds for product and technical development, perfecting of user experience and database expansion. Even though marketing costs are predominantly covered by the second phase of Crowdsale, we also allocated a portion of funds to cover marketing, sales and PR costs.
The second phase is intended to cover the costs of marketing, namely direct sales and the launch of a global PR and advertising campaign. With the service firmly in place, our main goal in the second phase is to spread the word about Viberate all over the world.
Technical development costs of the upcoming service features, starting with the implementation of marketplace functionalities and additional entity features.
Non-technical product development includes project management, team management and business development.
Adding new entities into the database, internally curating existing ones and setting up a support center.
First marketing phase, covering
basic marketing operations, including advertising campaigns for user acquisition and branding.
Day-to-day operations, office rent and equipment, travel expenses and legal fees.
Direct sales to our target groups includes one-on-one calls and meeting sessions.
A global ongoing PR campaign, targeted towards specialized and mainstream media, carried out with the help of an external PR agency.
Ongoing global ad campaign covering all relevant media outlets, designed to increase our userbase and to assure marketplace liquidity (social media ads, SEM, specialized music media, event presence).