To fully grasp the mission of the Jointly Platform Token, we must first ask what tokens and Initial Coin Offerings (ICOs) are and how investors make good returns on their investments by investing in them? These would point us to the need created for JP Token and how it effectively meets this need by accomplishing its mission.
What are tokens and ICOs?
A token is a unit of value given out by a company. In the crypto world, a token appears to be similar to a coin but differs basically by the simple fact that it depends on other platforms (blockchain protocols) like Ethereum to exist and operate. Tokens also have a unique advantage of being able to cover a broader range of applications. Since the standardization of the smart contract systems with ERC#20, Ethereum has hosted numerous initial coin offerings (ICOs).
Also referred to as token sales or crowd sales, ICOs are a source of capital for startups as they are usually done with the sole purpose of fundraising for projects. ICOs are usually held before the completion of the project, and returns from sales are more specifically used to fund expenses incurred by the project creators (aka the founding team) until launch.
The need for the Jointly platform
In most ICO’s larger investors have higher profit margins and bonuses. This is usually done to discourage smaller investments and encourage larger investments, and it invariably leads to smaller investors not getting maximum profit and advantages unlike bigger investors. In some cases, smaller investors are even unable to raise the minimum amounts required for investment. This, therefore, necessitated the establishment of the Jointly Platform.
The Jointly Platform Mission
The Jointly Platform Token aims to allow investors to access the highest bonuses offered in initial coin offers (ICO) without any blockage by a high threshold of investments through group investments.
To eliminate these limitations, Jointly Platform allows group investments in ICOs by bringing different investors together under the umbrella of one investment so that financiers can obtain valuable bonuses and a major amount of token just by investing some funds that equal regarding value to a single investment.
How do we do this?
Each user sends his investments to a common wallet managed by a smart contract that memorizes the investor’s address and percentage invested. The smart contract then transfers the collected sum present in the common wallet to the ICO which issues the tokens. Based on the initial investment, the smart contract then redistributes the percentages of tokens with relative bonuses to the users.
JP provides safe and easy access to the cryptocurrency market thereby giving low breakage cost, company assistance and support and access to high benefits.
The Jointly platform has projected an outstanding concept that will bridge a gap in the crypto world. As part of plans to ensure the success of this project, the Joint Platform itself is already running an ICO-fund raising activity, selling JP tokens with a base price of 0.4 euros. This price is subject to change according to the bonus distribution that is included in the pre-ICO and public ICO.
A total of 50,000,000 JPT will be subdivided as follows:
12% of the total tokens which is 6,000,000 JPT will be made available during the pre-ICO
68% of the total tokens which is 34,000,000 JPT will be made available during the ICO
1% of the total tokens which is 500,000 JPT will be given out during the bounty program
4% of the total tokens which is 2,000,000 JPT will be reserved for the AI team
3% of the total tokens which is 1,500,000 JPT will be given out during the bug bounty
4% of the total tokens which is 2,000,000 JPT will be kept for reserves and future projects.
8% of the total tokens which is 4,000,000 JPT will be given out during the bounty program
The JPT would allow seamless investment in ICOs via the JP Company platform as token holders would be able to simply send in their contributions to the ICO in the form of JP Token, which provides an immense benefit to many.
Prepared and edited by Andrew Carroll, Journalism MA in DIT.