ICO Details

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Token Sale Overview

Here is the key information at a glance:

• Tokens Created: 50M (ERC20 compliant)
• Funding Target: €27.7M
• Funding options: ETH, BTC, wire transfer
• Fund security: Multi-Sig wallet with keys held by government licensed fiduciary agents
• Presale: starts 2^nd October, ends 17^th October no minimum contribution
• Presale price: 100% Bonus limited to 4300 ETH (200 REF/ETH)
• ICO: starts 17^th November, ends 17^th December
• ICO price: 100 REF/ETH on day 1 increasing to 50 REF/ETH on day 30

RefToken aims to raise €27.5M denominated in ETH via an initial coin offering. Funds will be apportioned in the below approximate ratio. The target funding amount is €27.7M with a hard cap of €48M. Funding will be used to hire more developers to expedite development. The additional funding over the target amount will allow us to add in the following modules to the platform:

• Super affiliate/MLM management functionality.
• An inbuilt RTB display ad platform (similar to Google’s AdSense) that will allow users to buy ad space on each other’s sites without a middleman taking the lion’s share of the revenue.
• Leader boards & competition module for merchants to incentivise affiliates to promote their brand.
• Commission splitting to allow affiliates to collaborate (e.g. Affiliate A creates great content, yet is not too adept at generating traffic, whilst Affiliates B is a great SEO & C has a significant social following. Affiliate A will be able to approach B & C to offer them a percentage of the commissions raised if they distribute his. This will be done trustlessly via a smart contract on the platform.
• A market where freelancers will be able to pick up copywriting, translation, design and video creation gigs in exchange for a share of revenue generated by that content.

ICO

The ICO will run for 30 days. The ICO price will have a daily inflation rate of 1.67%, taking the token price from 100 to 50 REF/ETH after 30 days or until the hard cap is hit.

RefToken aims to level the playing field, and allow as broad a participation as possible. To this end all transactions will be Gas Limited to 50 Shannon. Ownership of REF carries no rights other than the right to exchange and claim over the platform or via exchanges. RefToken does not represent or confer any ownership right or stake, share or security or equivalent rights or intellectual property rights.

Escrow of Funds

All funds raised during the ICO will be held in a 2 out of 3 multi-sig wallet that will include licensed fiduciary agents as two of the signatories. All funds raised in the presale will be made available immediately for the purpose of promoting the ICO. ICO funds will be released in three month tranches to cover expenses, with the flexibility to adjust amounts in response to current market conditions.

Market Making

During the lock up period, the company will utilise its reserves to protect the token's market value to the best of its abilities, with a protective bottom targeted at ~20% off a compounded 5% week on week appreciation rate. The company will also protect prices from artificial 'pumps' by stabilising prices should malicious trading patterns be detected.