Hi folks ! I’d like to welcome back all of you who read about ATLANT in my previous article and I’d also like to welcome the newcomers; if you want to know more about the project or have difficulty understanding this article, make sure you read the introduction to ATLANT which I wrote last week.
So after we briefly described ATLANT last week it is now time to put our focus its ICO (initial coin offering)
Let’s begin with the ICO :
What exactly is an ICO ?
As previously stated, ICO stands for Initial Coin Offering and it is a means for start-up companies to raise funds. In a nutshell you (the investor) give a company with a project money and the company gives you tokens in exchange. From that moment on you wait and hope that the project you invested in will really succeed and therefore raise the value of your tokens.
It is quite similar to what happens in the stock exchange but with the one difference that IPOs (initial public offering) are a lot more regulated than ICOs.
(If you are already familiar with this concept then you must also be aware that the SEC (United States Securities and Exchange Commission) has already started approaching the problem and are trying to straighten up the mess of ICOs)
This brings us advantages as well as disadvantages which we will not be mentionning in this article but which will be explained in a further article.
How can I participate to in this ICO ?
Appart from US investors, anyone can participate this ICO. This is a fact that has come to our attention more since the SEC hasbeen involved.
Why is it so ?
The SEC wants to make sure whether a token represents a « security » or not. If a token is qualified as one by the « Howey-test » , then this token will fall under the SEC’s juridiction. Many projects are not ready to go through the whole trouble with the SEC and have therefore decided to exclude US investors.
ATLANT has therefore come up with a solution :https://www.saftlaunch.com/
Through saftlaunch as a middle-man, accredited U.S investors may also participate in the ICO.
Why does ATLANT need an ICO and how are the tokens distributed ?
ATLANT has great ambitions and in order to realize their project they need money to pay their staff and finance the marketing campaign.
Another reason for the ICO is that their project requires as many people as possible to participate. ATLANT is a decentralized platform which is based on blockchaintechnology and is meant to be kept alive by users of the network. But you’ll read more of this in our next post. In this graph you can clearly see how the distribution of the collected funds will be proceeded.
When is the ICO?
The ICO has begun on the 7th September 2017 and will end on the 31st October 2017. There is only a week left by now.
How much money does ATLANT want raise and what will happen to the tokens that were not sold ?
Every ICO has a minimum and a maximum amount of funds that they want to raise, which we call Soft and Hard-cap. ATLANT have already surpassed their 1.5m softcap, their hardcap is fixed to 225.403 Eth in other words 60m$. The ICO ends whenever the hardcap is reached, even if this happens before the 31st October. The tokens that weren’t sold are then burnt, which means that they will just be erased and will not exist anymore.
Is there a minimum amount I have to invest and how can I participate?
There is no minimum required, you can invest 5$ only if that’s the amount you wish to buy. To participate visite the page www.atlant.io and click on ‘contribute’. You will first see a window with box that you need to tick and then will appear the different possibilities of payement with cryptocurrency (BTC, ETH, LTC, ZEC Bcash).
ATLANT wrote a decent post which answers to many questions on How-to-contribute
What is very important is that you NEVER send Ethereum from an exchange (bittrex, poloniex…), always from a wallet ! That’s because most if not all ICO’s use a smart contract which means that once your Eth transaction has gone through, the contract will automatically send your ERC-20 tokens to your Ethereum Address. To access your tokens you need to be in control of your private keys which is NEVER the case on current exchanges. In that case you’d have to contact their support for help and further instructions.
What and how much will I obtain after the ICO ?
Every participant receives ATL tokens. These tokens are ERC-20 compliant which means that a normal Ethereum Address is enough to store them.
This must be an address over which you have control of the private keys. The amount of ATL tokens that every participant receives depends on how many Ethereum the person paid with and how high the bonus was at that moment.
This rate currently estimated at 1 :505 including the current bonus of 19%. This means that there are 505 ATL tokens per Ethereum.
What are my advantages as an investor ? Why should I invest in this ?
There are many advantages in being an ATL investor, but we will give you more details on this in our next post which is almost done by the way.
If you have any further questions, check out their site www.atlant.io or their Telegram https://t.me/atlant_eng
Thank you for reading 😎