This is an overview of how the Intercoin Investor Token Presale on Binance Smart Chain will work. We are making it trustless and organized with no room for error and will all the rules enforced up front by smart contracts. It will take place January 1, 2024 through September 1, 2024.
ITR tokens are for early investors and the team. INTER tokens are for customers (communities). ITR holders will be able to gradually obtain INTER. To translate to Bitcoin terms, ITR is like buying a “bitcoin mining rig” and INTER is like the “bitcoins” that are produced. Or in regulatory terms, ITR is like the “orange grove investment contracts” and INTER is like the oranges that are produced.
You can learn more about the company and its platform and ecosystem at
Overview
Investors buy official ITR tokens from the Company or its affiliated issuers, either based in Singapore, Dubai or Delaware USA. After a holding period, these ITR tokens may be traded by investors on the PancakeSwap decentralized exchange.
Regulation S is an exemption the SEC provides for offers and sales made outside the United States. Our team is happy to organize meetings and AMAs to answer investor questions, whether in person or online. If you are in the US, fill out this form on republic.com to indicate your interest to take part in an upcoming crowdfund. Before investing, review information about the project and risk disclosures in the Offering Memorandum.
Intercoins, with token symbol INTER, are a utility (not security) token that is not sold by the company in an Initial Coin Offering. Instead, they are minted by a CertiK-audited smart contract on Ethereum, Binance Smart Chain, and Polygon. Holders of ITR will be able to swap them 1-1 for INTER, but are throttled in a way that fairly balances the interests and expectations of all market participants.
The INTER tokens begin trading at 1 cent and may vary in price depending on market forces. The smart contract also makes Intercoins available for direct purchase at $10 per Intercoin, establishing an eventual ceiling on the price and potentially generating revenue for the company in the future. This is to comply with all the requirements not to be a security, listed in the SEC’s No-Action Letter from 2019. Thus, the Intercoin community may choose to list these tokens on exchanges such as Binance or KuCoin.
How the private presale of ITR will work:
- Launch ITR “InvesToR” token as a regular BEP-20 token on the Binance Smart Chain. The max authorized supply would be 200 million tokens.
- Launch the token sales contract which we developed to help projects sell tokens trustlessly, and deposit 50 million tokens there, to sell according to the following price schedule. The ITR sales may continue after that, but at a higher price:
| Price per ITR | Until Date |
|---|---|
| 0.0004 BNB | May 1, 2024 |
| 0.0006 BNB | July 1, 2024 |
| 0.0008 BNB | September 1, 2024 |
- Whitelist certain addresses who can then buy from the SalesContract anytime until the
endTimeof the offering. - 10% of all BNB from the SalesContract sales will be committed to PancakeSwap liquidity pool. 90% will be used for software development, third party audits, marketing and sales of Intercoin products and services to customers.
- 50 million tokens will be issued to members of Intercoin team who can privately sell their own tokens (it is allowed under Rule 144) so you can buy from one of them instead of the company
- The company may also launch a crowdfund on the site Republic.co to sell ITR to the public at large. The crowdfund will raise money to buy from SalesContract, thus guaranteeing the on-chain price represents a floor for the off-chain Republic crowdfund price.
- No lockups are imposed on ITR tokens preventing them from claiming INTER tokens from the growing secondary market. However, ITR tokens bought directly from SalesContract by Non-US Persons cannot be transferred to others for a period of 40 days, after which they can also in turn be placed on exchanges such as PancakeSwap.
How trading of INTER will work:
- Intercoin Token with ticker symbol “INTER” will be launched on PancakeSwap, as a fair launch with no initial special token holders, and no pre-mints to anyone.
- All tokens start by periodically being minted into the liquidity pool as the price rises and more liquidity is required.
- Liquidity from sales of ITR is deposited from 10% of the BNB accumulated in the FundContract.
- Liquidity is provably Locked because LP tokens are sent to the 0 address and can never be recovered.
- Customers will come buy INTER on PancakeSwap, and voluntarily choose to stake it for anywhere between 1 - 10 years, in various communities, receiving credits they can spend on goods and services in those communities.
- Speculators may come to both buy and sell on PancakeSwap, creating volume and volatility
- Add More Liquidity automatically as more INTER tokens are sold, no need to incentivize people to add liquidity
- Holders of ITR (such as investors, team members, advisors, etc.) who wish to swap their ITR for INTER can come every week and call wantToClaim() indicating how many INTER tokens they want to claim 1-1 in exchange for ITR. The following week they can come and pick up as many INTER tokens as they are proportionally allowed by the smart contract, without dropping the spot price by more than 10%. This depends on how many INTER tokens people wanted to claim that week. It represents a fair distribution of INTER tokens to ITR investors.
- Renounce ownership of smart contract
- List on CoinMarketCap and CoinGecko
- Get high score on CertiK and other third party
Business side
- Build out the business side, attract more customers
- Do PR and Marketing worldwide
- Partnerships with companies for exchange listings and market making
- More info at Intercoin Token Opportunity - Google Docs
US Securities Laws
Sara Hanks, one of our company’s advisors, helped write Regulation S for the SEC, great discussion about securities laws in the United States, click here:
