The Pre-Sale ICO for TycoonCoin Is Live
TycoonCoin is an innovative project, which intends to revolutionize the loan-lending sector. To do this, it will introduce the blockchain and crypto to this industry. Following the private sale, it held in April, Tycoon limited, a crypto mining solutions company, announced that their pre-sale would start on July 10. The initial price would be set at $0.09 for each token. The minimum entry bid would be set at $100 or the equivalent value in BTC, ETH, LTC, BCH, and XRP. Investors that are interested in the tokens can purchase them for that price on August 9, 2018.
More About The Pre-Sale
The company said that it had set the soft cap for this project at $500,000. It expected to hit this target with ease. The hard cap for the project was set at $17,137,333. If they hit the hard cap, the sale of tokens would immediately cease.
The CEO of TycoonCoin Dr. Julio Pena said that upon observing the crypto market, they had seen various coins collapse. One of the reasons why this happened was that after the ICO, there was usually no marketing strategy to keep buyers interested in the coin. The result was that the coin’s price would wobble or become unstable.
The CEO added that their Tycoon Coin had been designed with this issue in mind. Thus, it was not going to fail like other ICOs. They have invested in robust marketing and a way to moderate the supply of the coin. As a result, they aim to offer the best conditions and returns on investment for token buyers. This entire model will be based on the economic principles of supply and demand.
How The Funds Will Be Spent
The spending structure for the coin will focus on spending about 80 percent on income generating activities. These activities will include crypto lending and crypto mining. The operational costs and investment in renewable energy are covered by 10 percent of the funds generated. The other ten percent will go towards innovation and marketing and sales work.
The profit spending strategy will support the active engagement of the token in the crypto exchanges. Once the value rises, Tycoon Limited will invest 70 percent of profits into buying back the token from the public. It will also take them out of circulation via a burning process.
The high token demand and continued burning of tokens will ensure low supply of the coins. Combined with bidding between the company and other buyers, this will ensure that the price of the tokens is stable over time.
During the first few years, 5% of the profits will go towards marketing, 5% for operational costs, and 20% for income generation. The public sale for the TTC tokens will commence on August 10, 2018. The tokens will sell for $0.12 per token. Thus, early investors will benefit from a 33% increase.
If you want to invest in this project, the team behind it has provided contact information on their site. Get in touch with them via the email address to learn more about the project and have your questions answered.