Logistics company A2B Direct currently operating in Eastern Europe intends to hold an Ethereum-backed ICO on July 12th, 2017. The campaign is scheduled to last for a month, and seeks to raise €500,000 to €3,000,000.
The platform was first introduced in late 2016, and became widely known as a “freight Uber.” The service provides direct interaction between freight forwarders and cargo owners, ensuring 24/7 communication with the driver, and taking care of all involved paperwork while getting rid of forwarding expenses.
Unlike most companies that hold coin offerings, A2B Direct does not raise funds for the purpose of developing a solution, but instead offers a platform that is already operational. The ICO seeks to finance transferring the platform onto Blockchain in order to cut expenses for international transportation and make business easier for both carriers and customers while allowing them to work with fiat and cryptocurrencies at the same time.
The A2B tokens sold over the ICO will entitle investors to receive their share of the company’s profits similar to traditional shares, and the raised funds will be used for expansion of the company in Western European and American markets.
Depending on the amount of funds raised over the campaign, the company has rolled out several development strategies.
Thus, in case the ICO raises €500,000, A2B Direct will focus on hiring Ethereum and Blockchain developers. If the company manages to raise €1,000,000, they will also launch a European office and adapt its services to European standards. Should the campaign raise €2,000,000, A2B Direct will open several offices in Europe while adapting its services for the specific needs of a particular country. Finally, if the company raises €3,000,000, they will launch an American office. In case the company fails to raise €500,000, the investors will receive their contributions back.
The company will be accepting investments in Bitcoin, Ether, and Dash, and will require that users register a personal wallet to run all financial operations during the campaign and later receive dividends for the company’s further operation and progress.
Minimum contribution amount is set at 10 USD for which one may buy 100 A2B tokens, with 30,000,000 tokens issued overall. This amount accounts for 30 per cent of the company’s assets. The tokens will be pegged to USD in order to link the growth of its exchange rate to the expansion of the company. The token price will depend on the number of vehicles subscribed to the platform, therefore their price will directly reflect the platform’s activity. Owners of A2B tokens will be entitled to use them as soon as they are received.
In case the company sells 2 to 19 per cent of the issued tokens, the investors will be entitled to 6 per cent of annual dividends as calculated from the amount of their tokens. If the company sells more than 20 per cent of the tokens, the investors will be receiving 10 per cent of the profits annually. Additionally, A2B will award bonuses to token holders as of 2018.
Further details as to the project and the ICO model are available soon.
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