Sikoba Token Sale: A P2P IOU/credit platform

Sikoba is a global and decentralised money platform based on peer-to-peer IOUs and built on blockchain technology.

Project Description

Sikoba is a decentralised money platform based on peer-to-peer IOUs and built on blockchain technology. Participants who know and trust each other in real life grant each other credit lines in the Sikoba system. They can then pay each other without using fiat money. These peer-to-peer credit relationships are governed by contracts with specific conditions, fee structures and repayment rules. Using credit conversion, a kind of configurable rippling, payments between participants who do not trust each other become possible. Fiat money or cryptocurrencies are used when there are no credit links between participants, or to repay outstanding balances when needed.

The actual Sikoba chain is slated for release Q3 2018. The team is raising money to develop a minimum viable product in preparation for a larger public crowdsale later this year. Pre-sale tokens will be Ethereum meta-tokens and will function as IOUs for actual Sikoba tokens. The details of the Sikoba token economy may change, and the pre-sale tokens are guaranteed to be offered at a discount relative to what the public crowdsale (tentatively scheduled for before 2017) will offer. Those interested in the pre-allocation phase will get a 60% bonus while those interested in the pre-sale will get a 50% bonus.

Anyone interested in the pre-allocation phase (March 17 – April 24) is encouraged to contact the team directly through their slack channel.

Token Details

Role of token: Used to pay transaction fees on the network
Token supply: Not yet determined
Distributed in ICO: Not yet determined
Emission rate: Not yet determined
Consensus method:     Permissioned mining

ICO Details

Sale period:
  • Pre-allocation: Mar 17 – Apr 24
  • Public pre-sale: Apr 25 – May 15
First price:  60% bonus
Token distribution date:        end of June 2017
Minimum investment goal:     5,500 ETH
Maximum investment cap:       11,000 ETH
How are funds held:
  • Pre-allocation:  Ethereum address
  • Public pre-sale: Ethereum smart contract
Mainnet release date:  Q3 2018
Bonus schedule:
  • Pre-allocation: 60%
  • Public pre-sale: 50%

Note: the final numbers for the min/max investment goals may be changed on April 25 depending on the price of ETH. There will also likely be a minimum investment level.

Official Resources