A Breakdown of the ThinkCoin Whitepaper Pt 5/6


A Breakdown of the ThinkCoin Whitepaper

Pt 5/6


Introducing ThinkCoin

ThickCoins (TCO) are virtual money token that will be issued by TradeConnect, during initial coin offering (ICO). An initial coin offering (ICO) is done because of the following pertinent reasons.
First, an initial coin offering will get worldwide reach as participants from all over the world will be able to join the network, it will also serve as an incentive that will make them promote the TradeConnect network through affiliate commissions.

Second, after the initial coin offering, tokens can be traded on different networks, this gives the TCO liquidity. In addition to this, Participants will be able to buy and sell their tokens on different exchanges around the world increasing the reach of the network.

Lastly, and most importantly, plans are in motion to level the playing field and an ICO is the first step in that direction: TCO tokens will be used to buy and sell a wide range of financial products and it is important to get many people on the network before the final launch.

Token Allocation
The TradeConnect token issue will pass through two stages:
• A Pre-ICO that will engage participants and give early growth
• The main ICO that will serve as the foundation on which the systems and structure will be built

The Hard Cap
$30,000,000 USD will be the Hard Cap for the Pre-Sale, Pre-ICO, and ICO.

Bounty
Pre-ICO and ICO participants may receive extra discounts or bonuses through a bounty program created by TradeConnect. These bonuses and discount maybe for promotions on online, on social media and for significant investments.

Fundraising Target and soft cap
With the hope that the ICO will be widely accepted and raise an amount that will be more than the soft cap. The target is set at $5,000,000 USD, the Pre ICO and ICO will aid the development of the initial version of the TradeConnect network. Anything short of this target will cause a re-evaluation of the program and the funds invested will be remitted to the participants. A more significant raise will aid the development of the network to increase the speed and its capacity with more markets and participants.

Allocation of Fund
The money raised will be spent in the following way:
Marketing and acquisition of new users – 45%
Development of TradeConnect – 30%
Operations – 12%
Licensing Additions & Changes – 10%
Legal, Audit & Advisory – 3%

Proposed timeline
July 2018
• Development commences on modification of ThinkMarkets backend for blockchain use as ICO ends
• TradeConnect Personas and Liquidity algorithms will undergo extensive development.
• On/off-chain settlement process for maker and takers will also undergo development
• FX and CFD trade for TradeConnect protocol and smart contract details are created
• Global submission of TradeConnect license upgrades for exchange Trading
• Global license additions submission in US, South Africa, Japan and Singapore
• TradeConnect Wallet launch
• Submission of a working Alpha UI for TradeConnect trading and wallet platform
• Liquidity providers and early adopter’s integration into the system
• Listing of ThinkCoin (TCO) on Exchanges
• Selection of testers for pricing alone when Alpha TradeConnect network is kick started
• Finalization of TradeConnect network API
August 2018
• Submission of Beta UI for TradeConnect trading and wallet platform
• Beta TradeConnect network goes live
 October 2018
• ThinkConnect network begins FX and CFD trading
• ThinkCoin becomes the official currency for TradeConnect
• Integration of institutional liquidity into TradeConnect network
• Daily distribution Connect fee commences on TradeConnect
 November 2018
• Integrating of ThinkMarkets user base as participants on Trade Connect network
December 2018
• Exchange trading licenses for NYSE, NASDAQ and CME is the main target of TradeConnect

Phase Two
Commencement of Exchange Trading
January 2019
• Equities, commodities, futures and more trading will commence on the TradeConnect network. This will allow customers to purchase stock in corporations using the smart contract network of ThinkCoin (TCO)
• Institutional sector for hedge funds, prime brokers, asset managers and corporations are allowed to trade on the TradeConnect network.
March 2019
• Investors in Japan, Singapore, Europe, and Australia can trade in equities on the TradeConnect network.
July 2019
• IPO for TradeConnect

Check out the ANN page here and website here 
Personal Bitcointalk Profile

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