About SonoCoin
SonoCoin is a Swiss blockchain venture offering white-labeled data-over-sound solutions to enterprises based on its native blockchain protocol. The coins.WAV file format gives anyone the power to transmit value and information using simple methods of delivery such as sound (similar to Shazam), messenger, QR, and Bluetooth, etc. SonoCoin’s blockchain platform is a “b-to-b-to-c” (b2b2c) model, where SonoCoin builds data-over-sound solutions for businesses upon its blockchain network. SonoCoin uses a Proof-of-Stake protocol (PoS) where members of the community owning a specified amount of coins have the possibility to join the consensus algorithm and create new blocks in return for rewards. The selection for the next creator of a block is based on various factors such as random selection, and stake size. This technology is fully developed, the blockchain is live and operational and the first commercial use cases are currently being structured (MoU/LoI stage).
Token usage and ecosystem
SonoCoin’s blockchain network will allow for corporations to build their own white-labeled data-over-sound solutions. In order to verify transactions and to process the operations on the SonoCoin ecosystem, businesses would need to use the SonoCoin coins (Proof of Stake protocol, transitioning to Proof of Contribution), thus giving value to each coin. Ultimately, the SonoCoin team can build a tailor-made token to be used within the ecosystem of each corporation using the SonoCoin blockchain.
SonoCoin has a total supply of 100,000,000 coins. The supply is fixed, no more coins will be created or minted. 20% of the total coin supply will be retained in the SonoCoin Reserve. This Reserve will be used for SonoCoin's future development. The Ecosystem Development pool is a fund of coins used to engage, incentivize and develop SonoCoin’s global community. The entire SonoCoin reserve will be locked until Q4 2020.
Any unsold coins will be allocated to the Commercial Partnerships pool. This pool initially capped at 55,000,000 coins, represents the coins they need to operate their SonoCoin solutions and verify transactions. The coins will be sold at a 50% discount to the Initial Exchange Offering public price, i.e. €0.625 per coin. If and when the market price of a SonoCoin is lower than the fixed private price, businesses are welcomed to purchase the necessary SonoCoin amount in the public crypto markets.
After the end of the lock-up period in the beginning of 2021, the coins from the overall SonoCoin reserve will be sold in the markets based on the following vesting schedule: up to 5% of the monthly trading volume to be offered during the following month in equal amounts daily.
Token Info & Economics
Initial token valuation
€100,000,000
Max token supply
100,000,000
Initial supply
100,000,000
IEO price
€1
Token type
Own native blockchain
Token distribution date
01 Oct 2019
Token exchange listing date (planned)
10 Oct 2019
Token allocation
- Commercial partnerships (55%)
- Secondary Offerings (13%)
- LATOKEN IEO (10%)
- Employees and Advisors (8%)
- Ecosystem Development (7%)
- Coin-options pool (5%)
- Previous Sales (2%)
Team SonoCoin
Leon Afanasyev CEO
President & CEO of Crown Capital Group SA
Senior Financial Advisor at Morgan Stanley and Prudential Securities
Vlad Mitrofanov CTO
Software Engineer specialized in Cryptography
Erenik Yzeiraj Head of Investor Relations
Investment Advisor at Crown Capital Group SA
Analyst M&A/Corporate Finance - BPDG and RAMPartners SA
Evan Dean Head of Marketing
Blockchain expert and crypto-trader
Front-end Content Developer Founder of Fintech Forum
Jean-Baptiste Decorzent Strategic Partnerships
18 years of project management experience for multinationals, governmental and IOs
Advisors and Investors
Founder & CEO of Coinpayments.net – a premium Bitcoin, Litecoin, Etherium and other alternative crypto-currency payment processor, trusted by over 2,294,000 vendors across 182 countries.
Professor of Information Science at University of Geneva. ThinkData.ch.
Head of ICO Advisory at Swisscom Blockchain. Manager - Ernst & Young.
Founder & CEO of World Payment Solutions. Senior Advisor to Wirecard Group.
PARTNERS
Author: Almasani