$142.06 -0.87%
ETH · 117w

Request Network just published their Token Sale terms and process

Request Network’s Token Launch Terms Overview Use of token, total cap and use of funds

We published a first article specifying the token launch process which answers the main questions about the whitelist, the timeline and who is eligible here.

Synthesis: Amount to raise: 100,000 ETH for 500,000,000 REQ Total number of tokens: 1,000,000,000 REQ Token Price 1ETH = 5000 REQ

Dear Request early members, we are delighted to announce the terms of our Token Launch. We have seen a strong interest and received great feedbacks. We didn’t expect to see so many people joining our slack before even talking about the token launch. Last week we were 40 to discuss, today we reached 1500. We feel really glad about it.

We are committed to make this token launch one of the smoothest and most secure process and made a number of choices to allow everyone to participate without rush. To make this process a mutually beneficial one, we capped the fundraise and the maximum number of participants (TBD; high enough to allow interested people to join us; low enough to keep a strong community).

In order to grow organically with the community and attract the people who are really interested in our technology we advise you to share Request only to other people who will understand our technology and its long term goal.    The Request Network is raising 100,000 ETH for 500,000,000 REQ. The tokens will be available as soon as the token launch is over.

Token Distribution: Crowdsale: 50% Early Backers & Contributors (including prelaunch strategic buyers): 20% Retained by Request and external Development Fund: 15% Team and advisors (current & future): 15% (will be vested for 2 years). Token Distribution Funds Usage: Development: 55% Research: 15% Marketing & Partnerships: 15% Operations & Business: 10% Legal: 5% Funds Usage

Request Network is an ambitious financial project. We are structuring our strategy to get in...

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