kov



Offline



Activity: 492

Merit: 500









Hero MemberActivity: 492Merit: 500 Re: [PRE-ANN] TOKES Platform ICO - powered by Incent/Waves - Join the Revolution November 23, 2016, 12:58:59 AM

Last edit: March 28, 2017, 09:25:44 PM by kov #3 Frequently Asked Questions



Q: Will there be an escrow service on the ICO?



Yes. We're utilizing a 3-party mutli-sig wallet with two independent third-party signatories. The escrow signatories include, Fran Strajnar - Co-Founder and CEO of Brave New Coin, and Collin Crypto - the second highest ranked escrow on BitRated.com. All bitcoin contributions and altcoin contributions processed through our shapeshift plugin will be managed under this escrow. Because Waves does not yet have this functionality built in, Waves contributions will not be managed under this escrow agreement, but held in trust directly by the Tokes Platform team.



Q: How do I register for your Slack channel?



Use the following link to begin registration:



Q: What is the distribution of ICO funds? What is being budgeted for license acquisition versus business infrastructure or platform development?



This is nearly impossible to determine until we have a solid estimate of total ICO proceeds. License acquisition can be relatively inexpensive, with the demonstration of a business plan and $250K-$500K in liquid assets. These figures can change depending on the state's new requirements, but it is a solid baseline. The licenses are technically the smallest component of the budget. Locating a facility and outfitting it with the necessary equipment to undertake our objective will be a larger portion of funding. Again, our ambition here will be limited only by our capital raised. We cannot guarantee a specific return to investors, as that would very likely violate a law in some capacity.



Q: How soon until the mobile and point of sale applications are developed utilizing TOKES?



Software development will begin at ICO close, we expect a mobile app with transactional capability will live in Spring of 2017, with more features being added shortly thereafter.



Q: Is there a minimum ICO target? What happens to the funds if minimum is not reached or licensing is not obtained?



We do not currently have a minimum on the ICO, as we can continue work on the TOKES Platform with relatively low overhead. However, coupling our platform with the business operation offers tremendous opportunity for TOKES holders through market buybacks facilitated with the business revenue.



Q: What is your contingency should regulations allow cannabis banking operations to occur? What happens to your value proposition? What are the risks to your business model that you have identified?



Given the current political environment and status of state legalization, we don't project legalization at the federal level for at least a decade. Probably two. We expect our platform to be well ingrained in the industry by that point. Also, to reiterate specifics from the whitepaper, we are preparing for more than strictly a digital currency. There are going to be numerous features built out in time that will provide value to users.



With the revenue stream generated from the cannabis business we are proposing, even in the off chance that banking regulations upon growers/dispensaries soften, there will still be value to holding TOKES in the quarterly buyback program we are offering.



Q: What about the other cannabis coins already out there? Why is this different?



Simply put, we have a superior platform to the digital assets currently out there, and we believe we will execute with greater success than the alternatives. Not to be overly critical, but given the length of time that the other coins have been functioning, they have seriously disappointing results. We have a strong team and solid concept, and we've already laid the groundwork for our initiative within the industry. Also, our core business will be in Las Vegas, NV, where recreational cannabis just passed via ballot measure. It is highly likely Vegas will be THE cannabis destination in the United States, and we intend to capitalize on that.



Q: What happens to the TOKES that are not sold?



In the event that we hit only a portion of our target, unsold TOKES will go into a reserve account with a publicly-released wallet address. The rationale here is two-fold. First, we feel it's important to have this quantity of supply eventually available in the ecosystem, which argues against burning any unsold units. Secondly, project funding dictates that we ultimately sell the remaining units. What we will not do is dump these on the market. If at some point in the future we determine we need to undertake a secondary offering, we would release additional tranches of TOKES via off-market transactions (similar to AMP's secondary sale).



Q: Why can't cannabis dispensaries and customers simply use bitcoin or another cryptocurrency to transact? Why should they use TOKES?



Adoption is a large factor here. No teams within the crypto ecosystem are currently facilitating the relationships necessary to entice dispensaries to accept cryptocurrency. Part of our budget will be utilized to facilitate dispensary adoption. If this requires us to physically install point of sale tablets running our application, even going out of pocket for the hardware, then that's what we will do. We are also planning a first-time user promotions (i.e., a free gram for your first TOKES purchase at any qualified dispensary, much like Lyft's $50 first ride credits).



Second, we are offering asset pegging, which allows the dispensaries to retain the fiat value of their transactions. This is something not offered by bitcoin, and while coins like Bitshares offer this function, it currently does not exist in a form that facilitates easy pegging from the point of sale side. We are going to implement a user-friendly access point within the point of sale application to peg any incoming funds.

Yes. We're utilizing a 3-party mutli-sig wallet with two independent third-party signatories. The escrow signatories include, Fran Strajnar - Co-Founder and CEO of Brave New Coin, and Collin Crypto - the second highest ranked escrow on BitRated.com. All bitcoin contributions and altcoin contributions processed through our shapeshift plugin will be managed under this escrow. Because Waves does not yet have this functionality built in, Waves contributions will not be managed under this escrow agreement, but held in trust directly by the Tokes Platform team.Use the following link to begin registration: Slack Registration This is nearly impossible to determine until we have a solid estimate of total ICO proceeds. License acquisition can be relatively inexpensive, with the demonstration of a business plan and $250K-$500K in liquid assets. These figures can change depending on the state's new requirements, but it is a solid baseline. The licenses are technically the smallest component of the budget. Locating a facility and outfitting it with the necessary equipment to undertake our objective will be a larger portion of funding. Again, our ambition here will be limited only by our capital raised. We cannot guarantee a specific return to investors, as that would very likely violate a law in some capacity.Software development will begin at ICO close, we expect a mobile app with transactional capability will live in Spring of 2017, with more features being added shortly thereafter.We do not currently have a minimum on the ICO, as we can continue work on the TOKES Platform with relatively low overhead. However, coupling our platform with the business operation offers tremendous opportunity for TOKES holders through market buybacks facilitated with the business revenue.Given the current political environment and status of state legalization, we don't project legalization at the federal level for at least a decade. Probably two. We expect our platform to be well ingrained in the industry by that point. Also, to reiterate specifics from the whitepaper, we are preparing for more than strictly a digital currency. There are going to be numerous features built out in time that will provide value to users.With the revenue stream generated from the cannabis business we are proposing, even in the off chance that banking regulations upon growers/dispensaries soften, there will still be value to holding TOKES in the quarterly buyback program we are offering.Simply put, we have a superior platform to the digital assets currently out there, and we believe we will execute with greater success than the alternatives. Not to be overly critical, but given the length of time that the other coins have been functioning, they have seriously disappointing results. We have a strong team and solid concept, and we've already laid the groundwork for our initiative within the industry. Also, our core business will be in Las Vegas, NV, where recreational cannabis just passed via ballot measure. It is highly likely Vegas will be THE cannabis destination in the United States, and we intend to capitalize on that.In the event that we hit only a portion of our target, unsold TOKES will go into a reserve account with a publicly-released wallet address. The rationale here is two-fold. First, we feel it's important to have this quantity of supply eventually available in the ecosystem, which argues against burning any unsold units. Secondly, project funding dictates that we ultimately sell the remaining units. Whatdo is dump these on the market. If at some point in the future we determine we need to undertake a secondary offering, we would release additional tranches of TOKES via off-market transactions (similar to AMP's secondary sale).Adoption is a large factor here. No teams within the crypto ecosystem are currently facilitating the relationships necessary to entice dispensaries to accept cryptocurrency. Part of our budget will be utilized to facilitate dispensary adoption. If this requires us to physically install point of sale tablets running our application, even going out of pocket for the hardware, then that's what we will do. We are also planning a first-time user promotions (i.e., a free gram for your first TOKES purchase at any qualified dispensary, much like Lyft's $50 first ride credits).Second, we are offering asset pegging, which allows the dispensaries to retain the fiat value of their transactions. This is something not offered by bitcoin, and while coins like Bitshares offer this function, it currently does not exist in a form that facilitates easy pegging from the point of sale side. We are going to implement a user-friendly access point within the point of sale application to peg any incoming funds.



cannabanana



Offline



Activity: 518

Merit: 501







Hero MemberActivity: 518Merit: 501 Re: [PRE-ANN] TOKES Platform ICO - powered by Incent/Waves - Join the Revolution November 23, 2016, 01:06:21 AM

Last edit: November 23, 2016, 01:17:09 AM by cannabanana #5 I really support cannabis, for real. But isn't this project literally the same thing as cannabis coin?



this is not fud, Just wondering since basically the only difference I see is that instead of pegging to a gram of cannabis, you are pegging to usd which is kinda the same thing if you say that 1g is $20 so pegging to 1g is the same as pegging to $20 usd.



Edit: meh who cares, GL guys hope your team is much better than What's his ass from cannabis coin.









More importantly, do you even have a cannabis guy in Nevada that knows the legal structure for cannabis there for a grow operation business?

TokesPlatform



Offline



Activity: 37

Merit: 0







NewbieActivity: 37Merit: 0 Re: [PRE-ANN] TOKES Platform ICO - powered by Incent/Waves - Join the Revolution November 23, 2016, 01:16:13 AM #7 Quote from: cannabanana on November 23, 2016, 01:06:21 AM I really support cannabis, for real. But isn't this project literally the same thing as cannabis coin?



this is not fud, Just wondering since basically the only difference I see is that instead of pegging to a gram of cannabis, you are pegging to usd which is kinda the same thing if you say that 1g is $20 so pegging to 1g is the same as pegging to $20 usd.







There's some significant differences. The first is the development of a terrestrial business entity that will generate consistent capital and allow us to repurchase TOKES on the open exchanges. Anonimity and a functional mobile platform are an added benefit. This isn't just some simple mineable scrypt coin in fancy packaging. We're in Las Vegas, NV, which recently passed recreational pot, and sandwiched between two other states with legal recreational cannabis. As such we will have significant partnering with business for point of sale systems utilizing TOKES. We feel our execution of this initiative will be superior to that of similar offerings in the marketplace.

There's some significant differences. The first is the development of a terrestrial business entity that will generate consistent capital and allow us to repurchase TOKES on the open exchanges. Anonimity and a functional mobile platform are an added benefit. This isn't just some simple mineable scrypt coin in fancy packaging. We're in Las Vegas, NV, which recently passed recreational pot, and sandwiched between two other states with legal recreational cannabis. As such we will have significant partnering with business for point of sale systems utilizing TOKES. We feel our execution of this initiative will be superior to that of similar offerings in the marketplace.

kov



Offline



Activity: 492

Merit: 500









Hero MemberActivity: 492Merit: 500 Re: [PRE-ANN] TOKES Platform ICO - powered by Incent/Waves - Join the Revolution November 23, 2016, 06:18:31 AM #17 Quote from: imjustsayintho on November 23, 2016, 05:57:47 AM Quote from: cannabanana on November 23, 2016, 01:06:21 AM I really support cannabis, for real. But isn't this project literally the same thing as cannabis coin?



this is not fud, Just wondering since basically the only difference I see is that instead of pegging to a gram of cannabis, you are pegging to usd which is kinda the same thing if you say that 1g is $20 so pegging to 1g is the same as pegging to $20 usd.



Edit: meh who cares, GL guys hope your team is much better than What's his ass from cannabis coin.









More importantly, do you even have a cannabis guy in Nevada that knows the legal structure for cannabis there for a grow operation business?





I would add and ask if you could explain the process of acquiring a Nevada recreation permit/license?

I would add and ask if you could explain the process of acquiring a Nevada recreation permit/license?



At this point in time all available medical MME licenses have been distributed to business owners in the state, with no additional business licenses anticipated for medical in the immediate future. While the process is relatively straightforward, in terms of applying with the state and demonstrating a feasible business plan, all individuals interested in entering the business right now are forced to acquire licenses by purchasing another business listed for sale. With recreational use passing in the state of Nevada in the last election, we're eagerly anticipating a new set of guidelines to be released for recreational applications. Timing of the ICO is (semi-coincidentally) closely aligned with what we foresee to be the recreational application process. We do know that current medical business license holders will have the first opportunity to apply for recreational licenses.



While acquiring licenses via a business acquisition is not our ideal method of execution, it's a strategy we've not ruled out. We'll await the state's release of recreation license application guidelines to make a determination in that regard. As a fallback, we do have close connections in the industry who are already operating with full cultivation, production, and dispensary licenses. We have loosely discussed an alliance with them in which we can create and market the products that are already in development. We're not going to be able to disclose those partners' identities or business name at this time.



I do want to point out that while the business model is an integral component of our project, we'll be developing the Tokes Platform and digital asset independently of the cannabis operations, so TOKES holders can expect to see progression on both fronts simultaneously, but likely at different intervals. At this point in time all available medical MME licenses have been distributed to business owners in the state, with no additional business licenses anticipated for medical in the immediate future. While the process is relatively straightforward, in terms of applying with the state and demonstrating a feasible business plan, all individuals interested in entering the business right now are forced to acquire licenses by purchasing another business listed for sale. With recreational use passing in the state of Nevada in the last election, we're eagerly anticipating a new set of guidelines to be released for recreational applications. Timing of the ICO is (semi-coincidentally) closely aligned with what we foresee to be the recreational application process. We do know that current medical business license holders will have the first opportunity to apply for recreational licenses.While acquiring licenses via a business acquisition is not our ideal method of execution, it's a strategy we've not ruled out. We'll await the state's release of recreation license application guidelines to make a determination in that regard. As a fallback, we do have close connections in the industry who are already operating with full cultivation, production, and dispensary licenses. We have loosely discussed an alliance with them in which we can create and market the products that are already in development. We're not going to be able to disclose those partners' identities or business name at this time.I do want to point out that while the business model is an integral component of our project, we'll be developing the Tokes Platform and digital asset independently of the cannabis operations, so TOKES holders can expect to see progression on both fronts simultaneously, but likely at different intervals.