Hey guys, Im doing some math here and it doesnt add up. Could you clarify something for me?
The whitepaper says:
a) Up to 10.000.000 will be sold at the preICO at 0.03 USD/coin price. Funds will be used to launch the ICO. Up to an additional 1.000.000 coins will be distributed through the bounty program.
b) Up to 40.000.000 will be distributed at the ICO stage in November 2017. 80% sold to ICO contributors, 20% distributed among the team and bounties. Funds will be used to grow sales in baby stores, add more product categories (such as alcohol) and set up the WaBi Project blockchain based, remotely hosted loyalty system.
c) The remaining coins (49.000.000 if all 10.000.000 are sold at the preICO, 1.000.000 are distributed as bounties at the preICO round and 40.000.000 are sold during ICO stage) will be reserved to be delivered to consumers through the mining process. Consumers will receive coins by purchasing Walimai protected products and participating in other activities. These 49.000.000 will be held in an escrow. A merchant (seller of products protected by Walimai technology) will be entitled to release WaBi coins equivalent of 5% worth of quarterly increase in sales of his products, from the escrow into circulation by distributing these coins among the customers in the form of rewards and discounts. These coins can not be sold by merchants at an exchange.
a) 3.700.000 tokens were sold, 6.300.000 remaining
b) 80% out of 40.000.000 is 32.000.000 crowdsale, 8.000.000 distribution among team members and partners.
c) Remaining coins 49.000.000 (+6.300.000 not sold during the pre-sale).
So, if I understand correctly, max of 32 mln coins can be sold during the crowdsale.
In their last Telegram post Wabi guys say:
Tokens price:
We sell WaBi tokens at 0.25 USD per token (the higher end of the range we announced previously). This will give us around 11.5m USD raised (after accounting for ~50% preWaBi buyback).
11.500.000/0.25= 46.000.000
At least 46m tokens must be sold during the crowdsale if you dont account for the buyback.
How do you come up with this number of tokens? If you include 6.3m unsold pre-ico tokens and 8m that are meant for the team and the partners, then its 46m indeed. But does this really correspond with whats laid out in the whitepaper? In my understanding up to means no more than.
Could the team elaborate on this, please?