ICO Structure change

After consulting with our partners at Blocktech and much internal deliberation the IBC team has come to the conclusion that a change in ICO structure is necessary. The new structure will be as follows:

100,000,000 initial coins minted in block one
Proof of stake with a 4% interest rate
The ICO will consist of 10,000,000 coins
No other coins will be issued until the game is completed and released
The coins that are not being offered in the ICO will be held by blocktech until the games release. Upon release, Root Applications LLC will be given the coins. Root Applications LLC will then control the in game money supply in the roll of the Iron Bank, an economic game master of sorts.


We believe that this structure is the best way to both integrate IBC in our internal economy slowly as to not cause hyper inflation and to add value for our initial investors. It also lets us integrate another layer of the Game of Thrones world in to the game, The Iron Bank.

With the implementation of this new structure we will be extending the ICO for another week, it will close on August 29th, 2014.

Finally, we would like to extend the offer of a full refund to anyone who has contributed to the ICO up to this point as we understand that this ICO structure is not what you originally agreed to.

-Regards
The Iron Bank team.