PRE ICO Dates : 04/02/18 – 28/02/18
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Blockbits is a decentralized open-source crowdfunding/investing platform. Its most innovative feature is that it eliminates blind trust requirements, thus providing a signi cantly safer investing experience. This is achieved via blockchain contracts, built-in features that allow it to become fully maintained and governed by its token holders.
We introduce Blockbits, the platform that provides the optimal solution to the problem of risk and trust in investing. Our innovation consists of built-in features and mechanisms that take into account general rules of human psychology in relation to risk and investment. Our ultimate goal is to provide a safe investing experience, where: 1. Projects advance insofar as they are viable 2. Risk inherent to human bias or error is minimized. This, in turn, will mean that investing will become accessible and relatively risk-free.
To achieve this, Blockbits relies on a set of smart contracts onto which we’ve built a complex ecosystem of rules and business logic. This breakthrough technological innovation allows token holders to moderate and validate the development process of the platform. The requirement of blind trust into the platform’s development team is virtually eliminated and so are many of the problems that would stem from this problem thereafter.
Blockbits ICO offers two types of project funding, namely, Direct funding and Milestone fund-ing. For both, an innovative Vault mechanism is put in place to protect against hacking. The Vault isolates each investor’s funds into a separate contract, with two enforced hardcoded output addresses: the platform and the investor wallets.
The Milestone funding mechanism mitigates project delivery risk by locking up investor funds until a milestone delivery is reached. At this point the investor has the choice to validate and accept the delivered content and thus release locked funds to the project owners for the milestone in question. In turn, the investor will receive previously locked tokens as compensation.
If, instead, the majority of investors do not deem the delivered content as acceptable, all investors who voted NO on the proposal, can choose to use the CashBack mechanism to retrieve their remaining locked ETH. Essentially, this gives the investors the power to decide if the project delivered on its promises or not. Furthermore, voting NO does not require an investor to actually resort to CashBack – it may just signal disagreement with the delivery.
Investing into Blockbits awards BBX Tokens. These tokens allow the participation in Internal funding phases of projects launched through the platform. This does not only provide bonus discounts, but also genuine involvement as an investor with the ability to initiate code upgrade proposals. If such upgrades are accepted by the community, they will yield revenue and possible return of initial investment through the token buyback program.
This unique ensemble of process makes Blockbits and all the projects launched through it stand out starkly among its competitors. They provide an objective and transparent risk analysis based on risk indicators built into the software contracts used to run the investment campaign. We call them “Platform testable risk indicators”.
PRE-ICO Funding Phase
Start Date: 4st of February 2018
End Date: 28th of February 2018
PRE-ICO stops when a CAP of 7000 ETH is reached! 1 ETH = 9800 BBX
PRE-ICO bonus 40
ICO Funding Phase
Start Date: 10th of March 2018
End Date: 1st of May 2018
ICO stops when a CAP of 35000 ETH is reached! 1 ETH = 7000 BBX
NOTE: Final token supply is allocated based on the amount sold in funding!