The Scotcoin Project CIC – during the discussions with advisors and exchanges in respect of listing – has been advised to optimise for a strong after-market post listing.
The consensus was that a new token as part of a structured market management program was needed and would be well received in the markets.
The existing tokens have been divided by 20, so 5 Billion old tokens becomes 250 million new Scotcoin. However each NEW token is worth 20 times what the old token was worth. Thus each new token is worth $1.
It was also felt that having a listing price of $1 was preferable to 5cts. Feedback to date has been both understanding and complimentary in respect of the logic and the importance of the after-market.
As an example holders of 10,000 existing tokens will have 500 new tokens. The 10,000 old tokens were worth $500 and the 500 new tokens will be worth $500 as well.
Existing holders will be able to exchange their old tokens for new using a smart contract, which will perform all required functions to vest the tokens to enable them to trade over a period of time and after vesting. The whole process will be handled by smart contracts. Holders will enter details into an app and the app will do the rest
If holders decide NOT to dispose of their new tokens in the first instance and hold them until the final vesting date, they will receive an additional 10% of tokens.
For ease of description, suppose a holder has 20,000 existing tokens.
That translates to 1000 new tokens.
If held to final vesting the holder would receive 1100 new tokens.
Holders of large numbers of existing tokens will have new tokens delivered to them in 3 tranches starting 6 months from listing at 6 monthly intervals. All tokens will be fully vested 2 years from the date of first listing.
