Crowdfund Parameters and SRC Value
StarCredits will be built on the Ethereum platform. The token supply will be capped at 20,000,000.
The crowdfund campaign for Back to Earth will take place online, and will be raised through Bitcoin and Ethereum transactions.
Our crowdfund will be run differently than most crowdfunds that have taken place in the past, so it is important to highlight these differences and how they will best suit our project:
1) Our goal is to raise a maximum of 750 BTC. One SRC will be valued at .0001875 BTC. If the maximum is raised, no further donations will be accepted.
2) We will initially distribute 4.5 million of the 20,000,000 SRC created. The other 15.5 million SRC will be locked away in smart contracts for a determined time outlined below, and will have a specific release schedule that best benefits the individual value of the SRC token.
3) All crowdfund participants who donate .75 or more BTC will receive a Golden Ticket. Golden Tickets are non-divisible blockchain based assets that can be used to receive specific Back to Earth related content or to receive free SRC at a later date (details below). Every .75 BTC donated will earn the donor 1 Golden Ticket, so a 1.5 BTC donation will grant the user 2 Golden Tickets.
4) Participation in the crowdfund requires a referral link. These links will be given to specific communities in the space, as well as to early followers of the Back to Earth project. Once a donation is made to the crowdfund, the donor will receive their own referral link to post to social media or send to other interested parties.
5) Whenever a referral link is used to donate a minimum of .05 BTC, the owner of the referral link will receive an extra 50 SRC.
Our crowdfund will begin on April 26th, 2017. On or before April 26th, a link to participate in the crowdfund will be sent to subscribers of the Back to Earth newsletter, members of the Telegram community, and others. It will be up to crowdfund participants to share the links beyond the initial recipients.
4,000,000 SRC will be available to supporters on day one of the Crowdfund Campaign. Up to 500,000 SRC will be available for referral rewards.
The crowdfund will run for 4 weeks, or until we reach our donation cap of 750 BTC.
For any SRC that remains at the end of the crowdfund:
25% of remaining tokens will be destroyed
25% of remaining tokens will be added to the golden ticket pool for the next crowdfund
50% of remaining tokens will be held by Back to Earth.
Participants of the crowdfund will gain access to their SRC no more than two weeks after the end of the crowdfund. Back to Earth will set a maximum SRC supply cap at 20,000,000. No more SRC will ever be created by Back to Earth Productions.
We believe that releasing the full supply of StarCredits to the community at the start is not a good way of protecting initial crowdfund participants. In an extremely bullish altcoin and bitcoin market, overzealous sentiment can lead to a crowdfund raise that vastly over-values the token. The result is a significant drop in price when the token hits the market.
Releasing the token supply over a longer period of time will help to both create value for Back to Earth Productions and reduce donor risk in our initial start-up phase.
Since releasing large amounts of supply at a later date can have an adverse effect on the value of SRC tokens–and to protect and incentivize participation in our crowdfund–we have created blockchain based Golden Tickets that can be redeemed at a later time for added value.
This redemption process can happen in one of two ways:
- The Golden Ticket can be turned in to receive special content relating directly to the Back to Earth story. This content may range from collector’s items to a special event, and will be determined during the production process.
- The Gold Ticket can be turned in during a future crowdfunding campaign. During this future crowdfund we will have at least 500,000 SRC set aside for Golden Ticket holders. These 500,000 SRC will be distributed evenly among the number of participants who turn in their Golden Tickets.
A second crowdfund will be organized in a way that both incentivizes participation and preserves the individual value of pre-existing SRC. The second crowdfund is not yet scheduled, but will be organized as follows:
Release 4,000,000 of the reserved tokens to the community. Token value will be determined by total number of donations, and distributed evenly among crowdfund participants based on the size of their donation.
Under certain circumstances, participants will receive a Golden Ticket for use in future Back to Earth developments. We reserve the right to require a minimum required donation amount.
If you have a Golden Ticket from the previous crowdfund you will have access to a private pool of an additional 500,000 tokens, which will be distributed evenly among those who turn in their golden ticket at this time. This will require no further donation beyond the Golden Ticket.
Token Supply Summary
First Crowdfund: Release up to 4.5 million SRC
Second Crowdfund: Release 4.5 million SRC
11 million SRC remain off market for up to a year following the first crowdfund.
20,000,000 SRC is all that will ever be created. 4,500,000 will be distributed to crowdfund participants during the first crowdfund.
An additional 4,500,000 will be locked in a smart contract and inaccessible by Back to Earth Productions for the first 120 days (4 months) following the end of the first crowdfund.
The remaining 11,000,000 SRC will be locked in a smart contract and inaccessible by Back to Earth Productions for 365 days (1 year) following the end of the first crowdfund.