Substrate & Atoms
The general public does not understand the complexities that go along with cryptocurrencies today. The terminology that is involved confuses people who are not extremely technical in nature. The average person understands Fiat currency. With Fiat we have TWO Decimal places and use Dollars and Cents.
So to ensure we can target mass adoption Substratum runs on Substrate and Atoms and only goes to two decimal places. This will prove to be an easier learning curve for the average user.
Dollars = Substrate (everything before the decimal)
Cents = Atoms (the two places after the decimal)
Fuel to Run Substratum
Substrate becomes the fuel that runs the Substratum Network in the following ways:
- When a business or entity wants to host their site(s) on the Decentralized Web they will purchase Substrate using other cryptocurrencies or fiat.
- When a Substratum Network member runs their node and renders requests they are paid using Substrate from the host
- When a shopper checks out using CryptoPay the payment method they use is converted to the payment method the vendor desires by using Substrate as the conversion currency.
Why we accept United States residents into our ICO?
The reason we are able to run our ICO in the United States is because Substrate is the currency that fuels Substratum — you can view more on this at Mondaq.com where it is discussing how a token can be compliant with the SEC to run inside the United States and it says
“Another more nuanced option is to craft the features of the token, and the network on which it operates, so as not to implicate the securities laws. For example, by coupling the capabilities of distributed ledger and smart contract technology, tokens might be designed that are valuable primarily for their use-value.3 One example of this may be a token such as ETH itself, which is designed to be consumed as virtual fuel for when applications run on the Ethereum blockchain network.”
Token Specifications
To ensure that we had an ample supply to run the Substratum Network since Substrate is the fuel we originally had planned 1.2 billion tokens as our total. We made the decision to reduce the amount of tokens in half to bring higher value to the token for our network members.
ICO Minimum: 5MIL Substrate
ICO Maximum: 500MIL Substrate
What Happens If the Market Gets Saturated?
Should the market ever reach 90% saturation the network will create 10% additional tokens and segregate them into an account that is only used for the fuel to run the network. These will not hit the exchanges but only be available for transactions within the network.
How We Are Protecting the Development Fund
To ensure the development fund is not subject to big market fluctuations we are hedging the fund four ways.
Ethereum (25%)
BitCoin (25%)
USDT (25%)
USD Fiat (25%)
By hedging the fund four ways we ensure that we have the capital needed to finish each phase of the project that is budgeted for in the Initial Coin Offering.
Founders & Advisors Shares
Below is listed what is going to the founders and advisors for their efforts and investments into startup capital to get Substratum to where it is:
Main Founder: 10MIL Substrate
Team Leads: 1 MIL Substrate each ( 5 Team Leads )
Advisors: 25% of total investment
Lockout Period
Founders receive NO SHARES until the first version of Substratum is released at the end of 2017. This will ensure that members who join during the Pre-ICO or ICO phase are protected and ensure a quality product is delivered.
How We Are Using the ICO Fund
The development fund is being used in the following breakouts to ensure that development goal are met and that we raise market awareness.
Product Development: 60%
Product Awareness: 30%
Network Infrastructure: 10%
With this split of resources we will ensure that the product is developed to specification and we are ensuring that once the product is ready that we have adequate resources to market the product and raise awareness to gain an active user base to build upon.
More Information
How It Works: http://substratum.net/technology
Join ICO: http://substratum.net/ico
Enough of scanning the web for how to get one's coins after investment, can someone / admin post an active slack invite link here.
Enough of the excuses of running a small team, the world believe Substratum is ready, I think it's time to prove that! Thanks
Awsome project keep up the good work
I am so excited for this! For those aware of tne net neutrality shit going on to censor the web, there couldn't possible be better timing for this amazing project to liberate us! Their dev team in the past joined forces to work behind massive companies, like Disney, Facebook, HP, Apple, Kodak, the NBA and others! If you guys get the pre order and you want 5% more use my code nicknia If you want to follow whats going on, I just joined the slack community and everyone is really cool and helpful there.. Here is the link https://join.slack.com/t/substratumcoin/shared_invite/MjE2NDY5ODc1MjM3LTE1MDA3MzQ3MzItNmM5MjgxMDE4Zg