Important Photochain ICO Main Sale Update: Are you a Faithful Community Backer, Braveheart or Remnants Buyer? Photochain Follow Apr 4, 2018 · 4 min read

Photochain updated the ICO Token Sale Structure and Token Economics — ICO now open!

As you know, things move very quickly in the crypto world. We have also seen positively interesting developments for Photochain, so we have decided to make some last minute constructive changes to our token sale.

Just to explain first. In the last few weeks we’ve gained so much momentum, progressing from a hidden champion to a very promising and popular prospect amongst the ICO landscape. We’ve built a highly experienced team and very influential advisory board, and the community sees our real value, substance and commitment to achieving our long term ambitions.

All this, and the continual praise of our simple, yet effective prototype demo, are some reasons for our excellent ratings on the most prestigious of ratings sites. We even picked up ICO pitch award along the way.

Our whitelist has rapidly grown over this period, alongside a steady recognition in the mainstream and crypto media, as well as plenty of praise and wellwishers in the photography community. So we want to do what is best for all our supporters.

Taking into consideration our fantastic prerequisites, our great (and ever-growing) community, our pre-sale participants’ thoughts, as well as the current crypto market conditions, this is what the new plan is.

We’re going to show self-confidence and strength in keeping our ICO main sale starting date the 6th April 2018, but we are changing the structure of the main sale for two key reasons.

1) We want to give our faithful community the chance to secure their tokens before a potential early hard cap (as we are in late stage discussions with private large investors in the area of 2–5m USD).

2) By dividing our main sale into several phases we can match the risk appetite of each type of ICO contributor in the current crypto market situation (but we can’t guarantee that after the first or second phase, there are still tokens available).

The new sale structure is as follows:

ICO Main Sale I “Community ♡ Sale”, for 3 days:

(open sale, non-capped within hard cap but with smaller individual maximum transaction amount)

Start date: 06.04.2018 at 00:00 am CET

End date: 08.04.2018 at 23:59 pm CET

Time based discounts for tokens price during the Main Sale I Event:

Day 1 to 3: 30% discount => 1 PHT = 0.084 USD

with optional (voluntary) vesting of 12 months: -40% discount => 1 PHT = 0.072 USD

Maximum transaction amount: 25 ETH

ICO Main Sale II “Braveheart Sale”, for 30 days:

(open sale, non-capped within hard cap limit)

Start date: 09.04.2018 at 00:00 pm CET

End date: 08.05.2018 at 23:59 pm CET

Time based discounts for tokens price during the Main Sale II Event:

Day 1 to 10: 30% discount => 1 PHT = 0.084 USD

with optional (voluntary) vesting period of 4 months: -35% discount => 1 PHT = 0.080 USD

Day 11 to 30: 20% discount => 1 PHT = 0.096 USD

with optional (voluntary) vesting period of 6 months: -25% discount => 1 PHT = 0.090 USD

Maximum transaction amount: 10,000 ETH

ICO Main Sale III “Remnant Sale”, additional 20 days:

(open sale, non-capped within hard cap limit)

Start date: 11.06.2018 at 00:00 am CET

End date: 30.06.2018 at 23:59 pm CET

Time based discounts for tokens price during the Main Sale III Event:

Day 01 to 10: 10% discount => 1 PHT = 0.108 USD

with optional (voluntary) vesting period of 8 months: -15% discount => 1 PHT = 0.102 USD

Day 11 to 20: 5% discount => 1 PHT = 0.114 USD

with optional (voluntary) vesting period of 10 months: -10% discount => 1 PHT = 0.108 USD

Maximum transaction amount:10,000 ETH

General ICO Sale Information/ Token Economics

Maximum Amount of PHOTON Token: 230,000,000

PHOTON Token ICO overall Hard Cap (total tokens for sale): 180,000,000

Currency accepted: ETH, BTC

The exchange rate is 1 PHT = 0.12 USD (cryptocurrency equivalent at real-time exchange rates at time of transfer, time based discounts apply)

Minimum transaction: (0.2 ETH and corresponding value in BTC)

Maximum transaction: (dependent on sale phase. Between 25 ETH and 10,000 ETH — corresponding value in BTC)

Only sold and allocated tokens are minted (no need to burn unsold tokens)

Changes to main sale structure and to token economics have been updated in whitepaper and on homepage.

As we say, we can’t guarantee that after the first or second phase, there will still be tokens available. If this is the case, we will not hold the third stage, Remnant sale. Also, all stages of the main sale will be closed once we reach our hard cap. We want to emphasize that we are in negotiation with private large investors for deals of several millions USD, so please plan your own contribution accordingly.

For those who voluntarily choose to follow our optional vesting periods, you will be rewarded with an increased discount. These vesting periods mean that you will not be allocated your tokens until the vesting period expires. Tokens are minted by our smart contracts, but not delivered to your ERC20 address until the vesting period is up, meaning you cannot sell or trade your tokens. Just to be clear, these are completely optional.

We hope the new structure of the main sale is clear and fair to all. We hope you see the added benefit we bring to you by making these changes.

We’re almost there everybody! Thank you for those who have joined us on this journey! Let’s keep pushing for fair photography for all!