Additional Questions answered below

Why are tokens vesting over a 12 month period?


For every pre-token issuance investor, 50% of tokens vest on the day of the issuance, while the balance vests equally over a 12 month period. We believe this is critical in ensuring our early stage supporters are motivated by our long-term vision. While liquidity in the token allows them to protect their initial capital, the slow vesting provides the much-needed price stability for our eco-system.




Why aren't you raising funds through an ICO?


For multiple reasons stated below:
1. We actually have a thriving community that we have heavily engaged with both offline and online over the last 24 months. We felt we would like to reward our early supporters by offering them the window to invest first, and then opening it out to those outside the community.
2. Regulations are still hazy around 'public' fund-raises. By using this route, we ensure we are well within (in fact comfortably so) from every jurisdiction's regulations. We honestly believe it would not be wise to jeopardise the long-term aspirations of our project by fighting the wrong battles.




When will you ask for my wallet details?


At the time of issuance. Investors will have the option of using common ERC20 wallets like MetaMask/MEW or even storing their tokens on their Sacred Capital wallets. The latter is preferred for investors without crypto-experience. We will hand-hold all our pre-issuance investors through this process.




What do you mean by ‘Assisted Circulation’ and why are you choosing that route?


In order to ensure stable and authentic price discovery, we will initially expose our token to a “gated community” of 5,500 people. This enables us to build liquidity as well as attract long-term supporters of Sacred Capital in the months to come.




How will ‘Assisted Circulation’ work?


During this period, we ensure circulation within a particular price band: +/- 10% of the 30-day VWAP ('Volume Weighted Average Price', as per common trading parlance). Holders of the token are of course free to trade this token on any other network they wish to.




When will you move to an ‘exchange’?


Migration to an exchange will happen once we believe the required price stability has been achieved and the community is large enough to support the next step.




When will you transition to a distributed ledger and what will this transition involve?


On March 31, 2019, we will be able to transition from an Ethereum implementation to the live SC Network. Each ERC20 token issued will be entitled to 'credits' on this network. These credits represent storage and computational utility. These credits form a value stable currency that enable operations on the SC network.




Have you identified any ‘distributed ledger technologies’/ platforms that you will be transitioning to?


We will be building our network on platforms such as Holochain which require us to follow a 'credits' based system. (Check https://holochain.org/ for more details).




Describe the nature of the SC Token?


The SC Token (SCT) represents utility on our network. Each ‘tag’ or reputation within the SC system has a material imprint which is captured by the SC token. Every token holder is entitled to computation and storage resources associated with these ‘tags’. The ERC20 Token issued currently will stand as a receipt for this utility in the Sacred Capital environment.




Will Sacred Capital hold any reserves? If so, why?


Yes, the organisation will hold a minimal USD 500k in reserve for planned expenses until March 2019.




What will the funds be used for?





How often will you be reporting post issuance?


Distributed ledgers ensure financial data is openly available for everyone to witness. The role of the organisation then shifts to addressing the community and engaging in discussions/QnA sessions that the larger group might have.

Thanks to the steady efforts of our operations and outreach teams, we have incorporated formats used by peers like EOS (https://eos.io/), Holochain (http://holochain.org/) and Kin (https://kinecosystem.org/static/files/Kin_Whitepaper_V1_English.pdf, https://kinecosystem.org/)

Everything kicks off with a 'Town-hall Webinar' in September 2018. The intention is to engage in an interactive QnA with our eco-system through this medium on a regular basis.




How has Sacred Capital been funded so far? Who has funded Sacred Capital?


Over the past 24 months, Sacred Capital has been funded by individuals around the world. Some of them are leading angel investors, VCs and professionals while others are non-linear thinkers and drivers of social change. Each one of them is excited by the prospect of bringing forth a new economic paradigm. All our investors have entered 'pre-token-issuance' rounds which are private in nature. It implies that these rounds are exposed only to people we have met or engaged with during our interactions or have been part of our beta testing periods. Staying private also allows us to adhere to securities regulations around the world.

These investors have been offered tokens at a time-variant discount i.e. the discount reduces as we approach token issuance. To put it simply, every dollar invested in these rounds translates to a multiple when the token is issued.




Why has Sacred Capital not done an 'ICO'?


1) We have a thriving community that we have heavily engaged with both offline and online, over the last 24 months. We chose to reward our early supporters by offering them the window to invest first, and then opening it up to those outside the community. 2) Regulations are still hazy around 'public' fund-raises. By using this route, we ensure we confirm with regulations. We believe it would unwise to jeopardise the long-term aspirations of our project by fighting the wrong battles.




Who should be buying Sacred Capital Credits? What can they be used for?


The tokens issued are held by a combination of : 1) Investors who have entered at varying discounts over the last 24 months 2) Team members who have been paid in SCT 3) Reserve of USD 500k maintained by SC for further expenses until the network goes live. 4) Genesis entrepreneurs for estimated future usage as they build on the network 5) Users who are pre-purchasing for estimated future usage on the network. We are using the most commonly used reporting structures (EOS and Holochain laid down standards through their own raises). ECSA (Economic Space Agency), in collaboration with NYU Stern have published norms for this in their publication titled ‘Tokens as a Derivative’.

It is important to think of tokens as exactly that, a derivative, a bearer of value. They do no promise any dividend or share in a company. They only promise utility in a network - in this case, they are promising storage and computational power at a future date. When you purchase tokens through a SAFTE, you are pre-purchasing storage and computational credits on the SC network.

As a token holder, the numbers of value to you are the discount received, along with the total supply of tokens.




What is the investment opportunity in the Sacred Capital Pre-Token Issuance round?


The current round of funding is the last such window of these multiple rounds of funding. The current discount stands at 45%. That means every dollar invested returns ~1.8x on issuance.




How can I participate in the Sacred Capital Pre-Token Issuance round?


Once you express your interest on the form below, you will receive an email via 'Docusign' from Nehha Wadhwa, lead Outreach at Sacred Capital. This email will outline a standard process to be followed: 1) Read the email and the accompanying SAFTE (Simple Agreement for Future Tokens/ Equity) 2) Electronically sign the SAFTE (via Docusign) 3) Transfer funds to a bank in your preferred country (you may use USD/ SGD/BTC/ETH) 4) Upload basic identification documents in the link provided in the email received.




What is the total number of tokens that will be issued in the Sacred Capital Token Issuance? How will these tokens get distributed over time?


On the date of issuance, the total outstanding tokens will be approx USD 2.4 Mn + the balance that will vest over 12 months. (figures may be adjusted slightly based on the current round of funding).

The total number of tokens issued and their vesting schedule is as reflected in the images below.





Frequently Asked Questions About our Token Issuance

Can you share the chronology of funding so far and the path forward?

Until Aug 2018: Pre-token issuance

 

Over the past 24 months, Sacred Capital has been funded by individuals around the world. Some of them are leading angel investors, VCs and professionals while others are non-linear thinkers and drivers of social change. Each one of them is excited by the prospect of bringing forth a new economic paradigm. All our investors have entered 'pre-token-issuance' rounds which are private in nature. It implies these rounds are not exposed only to people we have met or engaged with during our interactions or have been part of our beta testing periods. Staying private also allows us to adhere to securities regulations around the world.

These investors have been offered tokens at a time-variant discount i.e. the discount reduces as we approach token issuance. To put it simply, every dollar invested in these rounds translates to a multiple when the token is issued. 

The current round of funding is the last such window of these multiple rounds of funding. The current discount stands at 45%. That means every dollar invested returns ~1.8x on issuance. 

The total tokens issued and their vesting schedule is as reflected in the images below. 

 

Transition to the live SC network: March 31, 2019 onward

 

On March 31, 2019, we will be able to transition from an Ethereum implementation to the live SC Network. Each ERC20 token issued will be entitled to 'credits' on this network. These credits represent storage and computational utility. 

Think of these credits as a 
value-stable currency that enable operations on the SC network. We will be building our network on platforms such as Holochain which require us to follow a 'credits' based system. (Check https://holochain.org/ for more details).