4 days to go till 108 Token Sale Phase I ends. Buy your tokens now.
108 Token represents a diversified portfolio of the top 15 cryptocurrencies sorted by supply-adjusted market capitalization. We earlier explained our reasoning for choosing supply-adjusted market capitalization as the basis for currency selection.
As is the case with almost every token sale, the 108 Token project aims to cover the expenses associated with legal, marketing and other miscellaneous expenses using a small portion of the capital raised. Some portion of the tokens are alloted to the team and advisors with lock-up periods so that the incentives of the operators of the project and investors are aligned.
In this post, we provide the breakdown of capital deployment and the token allocation to various stakeholders in the 108 Token ecosystem. A significant portion of the capital raised (98%) will be used towards the purchase of 108 Tokens and the remainder (2%) will be earmarked for legal and marketing expenses. Legal and marketing costs are cash expenses and are upfront in nature.
Coming to the token allocation part, out of every 100 tokens generated, 96.5 tokens will be owned by the investors; 2.5 tokens will be allocated to the team; 0.5 tokens to the advisors; 0.5 tokens for our bug bounty program. Tokens allocated to the team and advisors will have a lock-in period of 18 months with quarterly vesting.
Markets continue to perform well as we move into the week with all of the top 10 cryptocurrencies trading in the green. Bitcoin, at $6,705 added another 0.90% to its price, while Ethereum, at $275.95, gained 1.08%. Once again, EOS was the largest gainer in the past 24 hours, adding 5.72% to its value.
Data sourced from OnChainFX.com.
Crypto Tweet of the Day
Take a look at our latest product, a tradeable crypto index, 108 Token. 108 Token immensely simplifies crypto buying by offering diversified exposure to a basket of the top 15 cryptocurrencies by market cap. Think of it as the equivalent of buying in the S&P 500 of cryptocurrencies. With 108 Token, buyers never worry about coin selection, wallet management and portfolio rebalancing.
Also, you can earn free tokens by referring folks you know to 108token.
BTC vs 108 Token Historical Performance
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