Development and marketing of the system will be funded through the issuing of a betting token (BETR). The number of BETR tokens is hard capped, with liquidity increases facilitated by an increase in token value. There will be an early bird bonus system built into the ICO to incentivise early investment, according to the following schedule:
A reserve fund of tokens will be created as part of the initial token event to be sold on the market at the discretion of the foundation. This reserve fund will be not more than 10% of the amount issued at the ICO and will be held in trust and not released for at least 12 months. No further tokens will be created apart from ongoing maintenance tokens.
Ongoing maintenance tokens will be created periodically by the foundation and sold on the market to replenish tokens that are burnt as part of transaction fees. Transaction fees will be based on the underlying gas price consumed by the transaction and will be fixed per transaction regardless of the amount of the bet.
Once the target $30M in ICO sales is reached there will be no further token sales apart from maintenance tokens and reserve funds. The total token pool is hard capped at 650,000,000650,000,000 Tokens Total number of BETR’s are capped and cannot be increased after ICO.
Preparation for launch, PR, Corporate Technology.
Public Sales Start
Initial Betting API defined Token Encapsulates API. Bets can be placed using tokens
Launch of Identified Layors Introduction of Authentication
Reference code for Bookie app released
True Decentralisation comes to the Directory
Public Announcement, Website go live, Active marketing starts. Presales start to Institutions. Countdown to Public Sales.
Final end to Public Sales if not ended sooner Token tradable within 2 weeks
First version of Better Betting Node released
Reference code for betting Dapp released