Token Sale

Tezos Token Sale: A smart contract platform with formal verification and a futachratic DAO

Project Description

The Tezos token sale is raising funds for a Proof of Stake smart contract platform that allows for contracts to be subject to formal verification. This verification process ensures that contract code works as intended before it is uploaded to the blockchain. The Tezos blockchain upgrades will be implemented by a governance DAO. Token holders will vote on changes to Tezos protocol that they think will lead to the greatest price increases of the Tezos token. The changes that have the most support will be automatically implemented.

This kind of governance by markets, or a futachracy, was implemented on a blockchain by Augur in 2015 and has since been adopted (or will be) by DFINITY, BOScoin, Wings, Aragon and Gnosis

Project Details

Incorporation status:Dynamic Ledger Solutions, Inc.,  Plans for a non-profit in Zug, Switzerland
Team openness:Fully transparent
Blockchain Developer:Unclear, but team has 8 developers
Technical White Paper:     Yes
Available Project Code:Yes
Prototype:Compilable code in Github

Token Details

Role of token:Voting, block creation, payment, and access rights
Token supply:Proportional to raise
Distributed in ICO:Proportional to raise
Emission rate:5.4% nominal inflation per year
Blockchain:Tezos
Consensus method:     Proof of Stake

Sale Details

Sale period:June 2017. Exact date TBA.
First price:0.0002 BTC
Accepted currencies:BTC and ETH
Investment Round:First public offering
Token distribution date:Unclear
Min investment goal:None
Max investment cap:None
How are funds held:Held by Tezos Foundation
Minimum Viable Product:     Unclear
Bonus schedule:
Period (Bitcoin blocks)          Bonus
 0-39920%
400-79915%
800-119910%
1200-16005%
1600-19990%

Official Resources

 

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