Ninjastic
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Board Announcements (Altcoins)
Re: 🔥🔥💲💲【 ANN 】【 TOORCOIN 】【 TRAVEL PROJECT 】【 BOUNTY 】【 HUGE REWARDS 】💲💲🔥🔥
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toorcoin
on 08/08/2018, 03:50:47 UTC
Quote from: engrgeorgemarc on August 07, 2018, 08:10:04 PM
Quote from: toorcoin on August 07, 2018, 02:12:40 AM
Quote from: Abolaji11 on August 05, 2018, 01:02:49 PM
Am sorry if I could not go through all comment( as there are a lot of them) to know if this question has already been asked/answered. Can you please tell me how you guys intend to finance this project if you have no intention to raise fund by doing initial coin offering(ICO)??.

Hi Abolaji11,

We aren't looking for immediate funding. The idea is we continue adding utility to Toorcoin and Toorister by continuing to deliver on our roadmap and use Toorcoin for further future funding. In the interim, we are funding activities ourselves Smiley

If your funding the activities yourselves, what is the guarantee that the tokens will not be solely concentrated in the hands of the devs, making it centralized instead of being wide spread and decentralized. Meaning they hold a huge amount of tokens and can sway the market any way the want.

Great question! The team only holds 4.5% of the total supply (which is considerably lesser than what other project teams hold). The tokens are also locked in via a smart contract. Currently the team actually holds zero tokens and these will vest over time based on the schedule specified in our white / litepaper. On your point regarding swaying the market, it is counterintuitive for us. Since we get paid in our tokens over time, we know it is imperative we continue adding utility to toorcoin and toorister, or the team's tokens will also be worthless.