50 Coin TGE
What is the project status?
The design of 50 Coin is essentially complete, and our initial round of blockchain, ecosystem, and security testing in various server environments has now satisfactorily concluded. We're now waiting on the imminent Cosmos network launch so we can implement and optimise our proprietary DHARMA governance protocols and continue development. Hopefully, Cosmos will deploy by the end of the year (follow their progress at https://cosmos.network/roadmap).
We're now preparing for a Pre-ICO token generation event (TGE) on a vetted crowdsale platform for Ethereum tokens. After Cosmos goes live, these ERC20/ERC223 tokens will be later swapped for updated, smart-contracted FFTY minted in the new, proprietary 50 Coin blockchain.
When is the Token Generation Event?
The Token Generation Event is currently scheduled to occur in Q3, 2018. We'll make an announcement here, and in our social media channels, as soon as the date for the TGE has been selected. In the meanwhile, you can whitelist below.
How many tokens will be offered?
Based on our initial private funding, we'll determine the optimal amount of 50 Coin tokens to be minted for the Token Generation Event. The exact number will be selected which best secures token and ecosystem value, longevity, platform evolution, and security.
That said, the maximum total circulation supply shall never exceed 50,000,000 FFTY, and 50 City's decentralised exchange will buy back and "burn" FFTY with 20% of its quarterly transaction fee profit. Undistributed tokens from the TGE will be burned, and an organic vesting schedule has been determined that best nurtures and incentivizes both the crypto token and the ecosystem built upon it.