6 ICO Terms
6.1 Token Distribution
Total Saturn (STN) emission is 200,000 tokens. 80% of the tokens will be sold to investors. Namely, 15% will be sold during Pre-ICO, and 65% during ICO. 5% of the tokens will be allocated to fund the referral program, and the remaining 15% will be reserved for development and business operations needs.
6.2 Pre-ICO terms
Early adopters can purchase STN at a discounted rate during Pre-ICO.
We chose litecoin for the following reasons:
- Mature and stable blockchain. Litecoin shares the bulk of the codebase with bitcoin, and has been operating for four years without a network failure.
- Stable tooling. Every investor will receive a unique LTC address. This allows us to track contributions and allocate a proper amount of STN tokens when Saturn goes live on Ethereum blockchain.
- Low commissions12. Unlike bitcoin, litecoin has already activated segwit13, so the network has enough capacity to process transactions even during peak hours. This means that you’ll never have to pay exorbitant14 fees.
- Fast transaction speed. With an average block time of about two minutes, you will be able to confirm whether your transaction succeeded about five times faster compared to bitcoin.
STN tokens will be sold for 5 LTC = 1 STN during Pre-ICO, which roughly corresponds to 1 ETH = 1 STN according to coinmarketcap’s prices at the moment of writing this whitepaper.
6.3 ICO terms
We will launch Saturn ICO after we complete security audit and validate smart contract’s integrity on the testnet. Our target date for ICO launch is September, 1st 2017 and will last until all tokens are sold or on December, 1st 2017, whichever comes first. Unsold tokens will be reallocated to Dev and Operations.
ICO will be broken down in a number of rounds, with a fixed amount of tokens allocated for each round. When all the tokens for a given round have been sold a new round will begin.
ICO pricing structure is outlined in table 6.1.
|1||1.1 ETH = 1 STN||30,000 STN|
|2||1.2 ETH = 1 STN||23,000 STN|
|3||1.3 ETH = 1 STN||20,000 STN|
|4||1.4 ETH = 1 STN||15,000 STN|
|5||1.5 ETH = 1 STN||13,500 STN|
|6||1.6 ETH = 1 STN||10,500 STN|
|7||1.7 ETH = 1 STN||7,500 STN|
|8||1.8 ETH = 1 STN||6,000 STN|
|9||1.9 ETH = 1 STN||4,500 STN|
It is not recommended to transact in bitcoin during the first week of August because of the politics involved in bitcoin’s upcoming forks https://steemit.com/cryptocurrency/@jephline/the-problem-bitcoin-is-currently-facing↩
We walk the extra mile to make sure that investor’s money doesn’t get stolen by hackers, that’s why we will not publish our Ethereum smart contract until we go through a security audit. http://www.businessinsider.com/report-hackers-stole-32-million-in-ethereum-after-a-parity-breach-2017-7↩