Private sale and launch breakdown
It is now time for the team’s plan to build a safe and thriving ecosystem to begin. First will be the private sales, followed by the launch of the TinV token. Below will be a breakdown of all the ins and outs of what will happen over the next week.
All of the allocations for both private rounds will be 250BUSD. The team will select the two private sale round winners via a random whitelisting process. 6 Communities will be given access to these private sales. Each community will be allocated a specific amount of 250busd allocations for their members.
Once the community members have filled in and submitted the form, all information will be collected and sorted into respective communities. Data will then be sorted, and all wallets will be given a number; for example, if there are 400 applicants for community 2, they will be numbered 1–400. From there, the team will use multiple random number generators to select wallet addresses until the allocation for that community is filled.
Once the wallets are chosen, a list of all successful applicants will be published, and the community may check to see if their wallet was selected. If the Rd 1 private sale is oversubscribed and there is enough who have missed out to fill the Rd 2 private sale, a new form will be released for Rd2, and the same process will be followed to select successful entrants.
If the sales are not filled, then all remaining unsold tokens will be burned and removed from the supply. Below is a breakdown of token distribution and vesting times for the two private sales. As seen in the image, 225,000 tokens (Rd 1 Private sale) will have a 30-minute cliff after launch, the 45,000 from Rd 2 will have a 15-minute cliff after launch.
Team Tokens
The team consists of 6 Team members and 5 Founders/Advisors. Each team member has been allocated 6,000 TinV tokens, and each founder/advisor has been allocated 12,000 TinV tokens. These tokens will be vested and released over two months. All team tokens will be locked into smart contracts which will send the correct amount of tokens to the team wallets. The vesting is as follows; 20% 24hrs after launch, 40% 30 days after launch and 40% 60 days after launch. The breakdown of the distribution is below.
Marketing and Future development
The Marketing funds will be used to solidify partnerships, pay for website UI/UX upgrades, content creation, media creation, and anything else that brings positive community involvement. The Future development funds will be used both to pay for the development that has already been completed and all future development The Industry Network will be undertaking. The team’s vision is to have an ecosystem with protocols for all to use. To do this, multiple solidity developers and UI/UX experts will need to be hired to complete work. Both the marketing funds and the future development funds will be kept and stored in multiple signature contracts that will require 3 of the team to enter their private keys to retrieve funds. This reduces the risk of the team member in charge of these funds being compromised and the funds accessed by a malicious person.
As each protocol is ready to begin developing, the team will reach out to the community to see if any developers wish to apply for the position. The team will audit all protocols before payment is made to the developer to ensure that the work carried out is up to standard and aligns with the team’s four core beliefs: Trust, Integrity, Transparency, and Fairness.
