What does ATS stand for and what is it?
Authorship Token. The ATS, an ERC-20 token based on the Ethereum technology, is a unit of exchange on a new Blockchain based book publishing system. Authors, publishers and translators are rewarded with ATS tokens in exchange to book sales, while readers are able to spend ATS tokens in order to purchase books.
What is the price of ATS?
The exact amount of ATS you receive for 1 ETH invested will be determined after the sale ends. The amount will be determined by dividing the 100 Million ATS tokens to the total amount raised in ETH. All investors will receive the same price.
Please find below a calculation as to how many ATS tokens an investors receives for 1 ETH based on the amount we raise.
If we raise $7M (~21,000 ETH) , for 1 ETH invested you will receive 5,000 ATS
If we raise $5M (~15,000 ETH) , for 1 ETH invested you will receive 6,600 ATS
If we raise $3M (~9,000 ETH) , for 1 ETH invested you will receive 11,000 ATS
If we raise $2M (~6,000 ETH) , for 1 ETH invested you will receive 16,600 ATS
1 ATS will have a recommended starting trading price, through exchanges of $0.15 (15 cents), no matter what amount we raise.
Why we believe 1 ATS will have a minimum price of $0.15
There are a total of 100M ATS tokens. At a price of $0.15 , the total ATS Market Cap will be $15M.
As per CoinMarketCap.com , over 200 coins have a market cap above $15M. 200 coins out of the total of 1000 coins in existence have a market cap over $15M. This means that we only need to make it into the top 200 coins to be worth a minimum of $0.15
If we make it into the Top 100, the price will be 3-4 times higher.
Taking in consideration that our platform is completely unique, we run in a market where nobody competes with us, we have an ATS token with a real usage (thousands of authors will sell their books for ATS and millions of readers will pay with ATS for books), we dare to say, it’s pretty impossible we are not better than 80% of the coins out there!
Why we selected this calculation method for the ATS price:
The idea behind this is to stop overselling (a common issue of ICOs). This way, people will stop investing more money into the ICO after a certain point (say after we reach $5M) since they would not receive the same level of ROI if they do.
Our aim is to raise only an amount that allows us to build the platform; not 20 times more cash than we need. When one raises too much money, it does it on investors expense (the tokens will be overvalued, so you’ll see them go down in price instead of going up). By making sure we have that middle limit, we can be sure that both parties win (We, Authorship, can build the platform with the funds we received, and investors earn as well as the tokens can only increase in price thanks to the limited supply).
What crypto-currencies are accepted in the crowdsale?
We accept Ethereum (ETH). There is no minimum investment amount required.
We can also accept Credit Card / Wire payments. There is a minimum payment requirement of $2,500 for credit card payments and a minimum of $10,000 for wire transfers. Please contact us for this payment methods to issue you an invoice.
What amount is being raised? What is the cap of tokens?
We are targeting a minimum raise of $500,000, and a maximum raise of $7M, with a fixed total supply cap of 100 million Authorship tokens. There will be no follow-on offering.
Which wallets are compatible?
The address accepts deposits from ERC-20 compatible wallets. The tokens will be sent to the wallet address the deposits were made from.
DO NOT deposit directly from an exchange unless you contact us prior (we can credit the ATS tokens to another ERC-20 compatible wallet address, but you need to contact us prior to making the payment).
We accept multiple investments from the same ETH address (some ICO’s only allow an investor to invest once. We don’t see a reason for such a limitation; you can invest as many times you wish throughout our ICO sale period).
At the end of the crowdsale, we will be distributing the ATS tokens to all investors.
If you want a recommendation for a wallet, most people use myetherwallet.com
How will tokens be distributed?
80% of the tokens (80 Million) will be distributed to investors through the crowdsale.
20% of the tokens (20 Million) will be reserved to be distributed as a marketing budget towards the first 100,000 authors who will be using the Authorship platform. They will be distributed on a monthly schedule , within 24 months, based on the platform’s growth rate.
In order to prevent any potential conflict of interests, no tokens will be distributed to the Authorship development team.
The ATS tokens will be distributed to investors within 1 week after the crowdsale ends.
Free ATS token?
Join Authorship.com Newsletter and receive 75 ATS Tokens for Free worth $10 in exchange. http://bounty.authorship.com/ref/K8617220
