Jelurida Announces New Details About the ICO

Earlier today, Jelurida, the development company behind Nxt and Ardor, has announced new details about the upcoming ICO on their website.

The Jelurida team is now happy to announce that the legal, technical and organizational preparations for the IGNIS ICO are entering their final stage. The ICO will start near the end of July or early August 2017 (exact date and time to be disclosed at least two weeks in advance).

After inquiries into the start date of the ICO have been asked by the community on a daily basis, this should hopefully bring some clarity now on how the rest of Q3 will shape up to be like, even if no exact date has been given yet.

 

NXT in the ICO

As mentioned in our earlier newsletter, Jelurida mentioned that NXT will be used in the ICO and that this was due to technical reasons. Now, with the announcement, we can see why this was chosen.

The token sale itself will be conducted on the Nxt blockchain platform. A “controllable currency” called JLRDA will be issued and offered for sale in several consecutive rounds.

Being a controllable currency, the JLRDA tokens will not be tradeable or transferable between user accounts. The purchased JLRDA currency units will only serve as a proof of ownership and initial IGNIS balance for the Ardor Genesis Snapshot.

Purchasing JLRDA tokens will require NXT, however users will be able to exchange other cryptocurrencies to NXT conveniently within the Nxt wallet using the integrated ShapeShift and Changelly third party exchanges, subject to availability.

For 1 JLRDA token the participants in the ICO will receive 1 IGNIS coin at the time of the Ardor Genesis Snapshot.

So, the IGNIS ICO will utilize the Monetary System feature of the Nxt blockchain, where a controllable currency called JLRDA will represent the IGNIS to be distributed when Ardor launches. Purchasing a controllable currency on Nxt directly requires NXT as the transactions are on the Nxt blockchain itself.

 

Ardor Genesis Snapshot

The announcement also shed some light on the snapshot date for NXT balances where 0.5 IGNIS is given for every NXT an account holds.

As already promised, approximately half of the IGNIS coins will be reserved and distributed automatically to the NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.

The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round.

However, since the exact date of the start of the ICO and the duration of the ICO are still unknown, we can only estimate when the Ardor Genesis snapshot will happen.

 

Important Notice

There have been some complaints on some channels in the community about false information being spread around, such as that the launch was supposed to happen on July 1st, despite multiple announcements for over a year that Q3 was when Ardor would launch, not necessarily July 1st. Because of this confusion, Jelurida was prompted to also state this in their announcement:

IMPORTANT NOTICE:
All official information regarding the IGNIS ICO will be published on this website only. If you receive information from other sources always make sure that it is consistent with this page.

While Nxter Magazine strives to provide the most accurate information, if any conflicting information is found on this website with Jelurida, please trust the content posted on Jelurida’s website as they are the development team and may have made some changes and we just did not get to update our content yet.

Source: https://www.jelurida.com/ico

The Adel ICO is now live

The Adel ICO is live

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The long awaited crowd sale of Adelphoi tokens is without a doubt one of the best prepared and promising current Initial Coin Offerings out there, launched with an impressive amount of documentation in the form of several White Papersdetailed project’s proposals, informational videos, and Frequently Asked Questions, all released on the project website, https://adelphoi.ioover the past few months.

ADL

Up for sale are 28,333,333 Adelphoi tokens (ADL) out of 33,333,333 ADL released in this first ICO round (5M is to be allocated to the Adel team). The value of an ADL coin will be calculated at the end of the ICO based on the value of the BTC (and altcoins) collected.

ADL is the cryptocurrency to be used inside the Adel economic ecosystem. Adel members can introduce use cases on any blockchain platform, including Nxt, Ardor, Ethereum, Ethereum Classic, Waves, Lisk, NEM, Stratis, and Byteball, among others. Throughout the deployment stage, returns from projects are redistributed to stakeholders using the ADL coin.

Soon after this ICO ends, participants will be able to trade their ADL. Coordination with centralized exchanges will happen during the ICO, and "the attention brought on by the ICO will be leveraged", says Travin Keith, Adel's marketing consultant. The ADL currency will also be tradeable on the Nxt Asset Exchange right away after it is distributed.

Across three rounds of ICO, a total of 100 million Adelphoi (ADL) will be released to the market.

What is ADEL?

Adel is a blockchain agnostic startup accelerator, powered by Nxt technology and with a global community aimed at developing, supporting and funding innovative startups using blockchain technology.

The Adel ecosystem consists of stakeholders, registered community members, staff, a Project Review Committee, and the Adel Board. Their vision is to create an ecosystem of innovative projects where members can participate in submitting ideas, building business plans, and successfully deploying projects. Adel offers a decentralized alternative to traditional seed funding and angel investments by combining social media with venture capital.

Startups will be decided by the Adel community after a review by the Adel Board and the Adel Project Review Committee. Successful ventures will be developed and issued as rewards to Adel’s stakeholders and backed by a future legal entity that will establish the Adelshare (ADS) equity token.

After the first ICO phase, Adel will introduce the Adelshare (ADS), a token which will represent a member’s equity stake in Adel projects. Participants can buy these shares using their Adelphoi (ADL).

Organisation

The Adel Board is:

Jan Lamser - Legal & Operations
Gabriel DusilMarketing & Strategy
Michal Vavrek - Research & Development (R&D)

Jan Lamser, Co-founder and Board member, states:

The role of the Adel Board, alongside the Project Review Committee, is guiding and curating the activities of the community and ensuring a unique and regulated environment for fundraising and investment. Our incubator structure provides both financing and management expertise from blockchain and business experts around the world.

Soon after the end of this 1st ICO round, the members of ADEL’s Project Review Committee (PRC) will be announced. The PRC will guide and help the Adel R&D team and innovators, evaluate and approve projects, as well as participate on forums to discuss the projects with the community. 

Adel will comply with legal requirements relating to cryptocurrency exchange, governance, trading, and taxes. Adel will ensure regulatory compliance and the satisfaction of legal requirements in all markets where Adel operate. Therefore, any projects that do not meet these requirements will not be approved. This ensures the integrity of the Adel ecosystem while also protecting the integrity of each member in the community. 

Use of the ICO funds

30% will be allocated for Adel operations.
70% will be used to fund projects launched on Adel.

ICO

Bonuses

The bonus refers to the amount of ADL the participant in the Adelphoi ICO will receive:

20% bonus

▲  First 3 days  ▲
12:00 (noon) UTC on May 1st till 23:59 UTC on May 3rd


15% bonus

Next seven days
 00:00 UTC on May 4th till 23:59 UTC on May 10th


10% bonus

Next seven days
 00:00 UTC on May 11 th till 23:59 UTC on May 17th


5% bonus

Next seven days
 00:00 UTC on May 18th till 23:59 UTC on May 24th


0% bonus

 Last seven days
 00:00 UTC on May 25th till 23:59 UTC on May 31st


The 1 BTC threshold

Only members who have contributed over 1 BTC will be invited to the community, and only those in the community will be able to purchase Adel company shares (ADS), once the legal entity and license are established.

After the first (ongoing) ICO the minimum to join the community will be increased to 2 BTC (in equivalent ADL).


Carry-over Bonus

With the exception of the first three days’ bonus, which entitles a carry-over bonus of only 15%, participants maintain the same bonus if they decide to increase their contribution in the following weeks of the ICO, provided the sum of their initial contributions in a given stage is over 1 BTC.

Participants contributing over 20 BTC will receive a bonus of 15% no matter when they submitted their first contribution.


Escrow

During the ICO round, the raised cryptocurrency is immediately placed into the 5 out of 6 multi-signature escrow account provided by BitGo.

30% of the BTC escrow funds will be released shortly after the ICO (1st of June 2017) to Adel Ecosystem Limited to continue paying developers, legal services, and support costs.

The remaining 70% of the BTC escrow funds will be released to Adel Ecosystem Limited after the investment structure of Adel’s second phase is established.


If Adel Ecosystem Limited does not raise over 900 BTC in the first ICO round (the minimum threshold), then community members will vote if Adel continues or if the remaining funds are returned to the ICO participants.