ECOBANK tokens - Presale is closed - Market is opening (soon)

in LeoFinancelast year (edited)

Now that the easy part is done - taking your money - there is a bit of work accounting for the entire model around the presale. I have been meeting with the accountants, and getting ready to continue to make this a reality in the real world.

ECOBANK is a fund, we do stuff with the assets in the fund, and we hope to make profits doing it. There will be other sale phases as a way to inject new capital into the fund, but for now, our first phase (PRESALE) has closed. As per our statutes, never can a future phase be held for cheaper than a previous phase.

In this post I will be looking to break down how many tokens there are in the fund, and who gets them, let's dig in. You can review the previous post from December to see how well today's numbers match what I was thinking in December of last year.


We found and finalized a really nice piece of land that made us want to launch the ECOBANK project. I uploaded a great drone video to youtube that we took on Sunday. Check it out (can you spot my car?):

At 2:19 you can get a good look at mostly the whole piece of land.

We have calculated exactly 8.2 hectares of Land at 10,727 tokens per hectare ($11,800 USD per hectare).

Land (8.2 hectares): 87,961.4 ECOBANK tokens

We have also invested some minor funds in getting the whole project up to speed, we have been quite conservative and deliberate with the funds, here is what we have done so far:

Partially Spent

Management - Technical: 3000 ECOBANK tokens
Spent so far: $490 USD (445.45 ECOBANK tokens)
Mapping and delimiting: $250
Surveying and cleaning: $240

Management - Legal: 3000 ECOBANK tokens
Spent so far: $1375 USD (1250 ECOBANK tokens)
Legal Consult fees: $1325
Paperwork: $50

Management - Administration: 3000 ECOBANK tokens
Spent so far: $1000 (909.09 ECOBANK tokens)
Tourism Diagnostic Study: $1000

We have some tokens set aside for things we haven't done yet, here are these notes:


Licensing and Permits - 2700 ECOBANK tokens
Planning Fees - 1230 ECOBANK tokens
*Architect: 4800 ECOBANK tokens

I personally did put in $1000 dollars in an advance to an architect - who delivered some drawings that you can see here. In the end, I felt that we were trying to move too fast and the guy was asking way too much money to continue with him. I have decided to write off this 1000 dollars as a personal loss (and lesson), and keep the budget untouched within the ECOBANK. You are welcome 😅

This gives us a total of 90565.94 ECOBANK tokens outside of the presale, and these will be distributed as follows:

@ecoinstant: 46585.24 ECOBANK tokens
J.C. : 43980.7 ECOBANK tokens

Let's update the presale data:

Here is the list from the first accounting period, launch until February 2nd:
@snook - 250.000 HBD - 227.273 tokens
@tokenizedsociety - 220 HBD - 200 tokens
@papacrusher - 90 HBD, 300 SWAP.HBD - 354.545 tokens
@teenagecrypto - 1.3 SWAP.HBD - 1.181 tokens
@newigennity - 275 HBD - 250 tokens
@tokenpimp - 275 HBD - 250 tokens
@weirdestwolf - 153.190 HBD - 139.263 tokens
@thehive - 110 HBD - 100 tokens
@flipflopcrypto - 8 HBD - 7.272 tokens
@votebetting - 20 HBD - 18.181 tokens
@lammbock - 11 HBD - 10 tokens

totals of 1557.715 tokens / 1713,49 HBD

And here are the entries between February 2 and April 23rd:

@stortebeker 100 hbd + 500 hbd + 500 HBD = 1000 tokens
@gamsam 58 hbd + 41 HBD + 86 HBD = 168,181 tokens
@ironshield 110 hbd = 100 tokens
@hellene8 5.888 HBD = 5.352 tokens
@khan.dayyanz 5.5 HBD = 5 tokens
@papacrusher 11.597 HBD = another 10.542 tokens
@stickupcash 20 HBD = 18.181 tokens
@manoldonchev 4.800 HBD + 4.8 HBD + 2.4 HBD = 10.909 tokens
@onewolfe 6.746 HBD = 6.132 tokens
@teenagecrypto 8.984 HBD = 8.167 tokens
@braaiboy 122 HBD = 110.909 tokens
@jfang003 110 HBD = 100 tokens
@preparedwombat 11 HBD = 10 tokens

totals of 1553.373 tokens / 1708.715 HBD

Now we have the sales since April 23rd:

@abrockman: 11000 BUSD = 10,000 tokens
@jelly13: 3300 HBD = 3,000 tokens
@d-pend: 1100 HBD = 1000 tokens
@josephsavage: 11000 BUSD = 10,000 tokens
@roleerob: 110 BUSD = 100 tokens
@bil.prag: 70 HBD = 63.636 tokens
@bhattg: 7 HBD = 6.363 tokens
@yonnathang: 44 HBD = 40 tokens
@trumpman: 500 HBD = 454.545 tokens
@papacrusher: 25 HBD + 60 HBD + 32 HBD = another 106.363 tokens
@beyondhorizonmm: 111.1 HBD = 101 tokens
@nathanmars: 21 HBD = 19.09 tokens
@verbalshadow: 13.904 HBD + 15.788 SWAP.HBD + 6.322 SWAP.HBD + 20.599 SWAP.HBD + 17.403 SWAP.HBD + 11.305 SWAP.HBD + 36.706 SWAP.HBD + 21.093 SWAP.HBD + 7.657 SWAP.HBD = 150.777 dollars = 137.07 tokens
@hetty-rowan: 106 SWAP.HBD = 96.363 tokens
@olympicdragon: 11 SWAP.HBD = 10 tokens
@ash: 11.094 SWAP.HBD = 10.085 tokens
@ecoinstats: 1652 SWAP.BUSD = 1501.818 tokens
@mapac: 110 SWAP.BUSD = 100 tokens

Totals of 26750.333 tokens / 29416.971 HBD

This brings us to a grand total of our presale:

29861.421 ECOBANK tokens Sold for 32839.176 Dollar tokens collected

@papacrusher wins the completely arbitrary prize of being the only account to participate in all three phases of my internal accounting of the presale. First beer is on me when you come down and visit Papa!

We also have some special cases, people who were not able to participate in the presale but who nonetheless are getting some tokens. Not all of these are the same case, and I won't be going into detail, but I will be integrating them into the full accounting shortly, moving sufficient funds around to explicitly cover these 'non-sales'.

@dkid14 - 545.454 tokens
@snook - 1000 tokens
@simplegame - 700 tokens
F.W. - 454.545 tokens
C.T. - 909.09 tokens

Results - What's next?

Rest assured that there has never been nor will there be an ECOBANK token issued without the appropriate backing. Team members have not received tokens, and all the tokens I personally received represent cash that I have invested.

Please take a look at this post with a critical eye, especially if you have been tagged. It is not my intention to do many posts where all members will be tagged, but as this is your chance to dispute totals, and I put everything together manually, please take the next few days to make sure everything looks right to you.

I will be finalizing the internal accounting for our fund, and distributing the token within the next few days. I wanted to get this post out just so there was some time for anyone to report some sort of error that I may have made.

You may notice that there are still a few people without 'wallets', we will be looking to fix that or propose a suitable solution in the meantime.

Freedom and Friendship!


Este proyecto es exitoso, esperamos la próxima actualización😎

Impressive to read about this initiative :). Possible to sell your beer in Europe?

Fantastic update! Can't wait for all of this to come together and partake in those beers :)

Thanks for the update and it's nice to see so many people get involved. It's still a sizable amount generated from the pre-sale but is it enough to cover your costs?

Posted Using LeoFinance Beta

I have paid most of the costs and given myself some tokens for it. But I have been very careful to always err on the side of the bank's favor.

So excited to be a part of this project. Can't want to see how this turns out.

@papacrusher wins the completely arbitrary prize of being the only account to participate in all three phases of my internal accounting of the presale. First beer is on me when you come down and visit Papa!

the odds are forever in my favor lololol So very, very proud to be involved in a small way in this amazing project!!!!

Thanks for the update!


Glad to have contributed!

Hey man... great progress so far. I'm pretty sure I sent a total of 185 hbd though

Okay good thing you said something! Let's find those transactions!

Bang, I did it again... I just rehived your post!
Week 109 of my contest just can now check the winners of the previous week!

@ecoinstant, @pixresteemer(7/10) sent you LUV. wallet | market | tools | discord | community | daily

⚠ The LUV command will soon require a limited number of other "!" commands accompany it. Details here.


PIZZA Holders sent $PIZZA tips in this post's comments:
dkid14 tipped ecoinstant (x1)
@bhattg(1/10) tipped @ecoinstant (x1)

Please vote for pizza.witness!

!giphy great