Sikoba tokens (SKO) are utility tokens that will be used to pay transaction fees on the Sikoba Network. The SKO post-MVP Token Sale will start in late July.
Our post-MVP token sale will start in late July (postponed from the intially announced "late June"). The sale will be done via an Ethereum smart contract, and the tokens will be ERC-20 tokens that will eventually be exchangeable for native Sikoba tokens after mainnet launch. We will use the proceeds of this sale to fund development of the Sikoba mainnet and to prepare for an IEO/ICO later this year.
Note that the token sale is not open to US citizens or residents, nor to anyone for whom it is not legal to purchase Sikoba tokens. For more details, please check our Risks and Limitations page.
Timing: The post-MVP Sale will start in late July 2020 (the exact date will be announced later) and last for one month.
Phase 1 (for pre-registered accounts): up to 500,000 tokens will be sold at the equivalent of US$ 0.45 per token to pre-registered accounts during the first week of the sale.
Phase 2 (public sale): the token price will start at US$ 0.55 until 750,000 are sold, and increase to US$0.60 for the tranche 750,000 - 1,000,000.
USD/ETH oracle: we will use Chainlink's ETH/USD oracle to determine the number of tokens received for each individual purchase.
SKO1 tokens holders: existing SKO1 token holders will be able to exchange their tokens for new SKO tokens via the new SKO contract. Instructions will be provided.
Smart contract: the code will be published several days before the post-MVP sale starts.
By pre-registering, you will be able to purchase SKO tokens at a lower price during the first week of the Sale.
Install the sikobaPay app, create an account and send a connection request to the special account “sko-referral”. Instructions can be found on our Sikoba Betatesters page.
Register via this link (note that you will need an Ethereum address to particiapte):
[ >> SKO Referral Program << ]
Share your unique referral link with your friends and contacts via messages, email or social media. You can also use it in articles, reviews and YouTube videos. But please refrain from spamming!
Rewards for each referrer: 1% of SKO tokens purchased with his/her code
Rewards for token buyers using a referral code will be as follows:
These rewards will be relative to the numbers of tokens purchased.
In addition, the three referral codes corresponding to the most tokens sold will receive an additional reward of 2%.
The planned token allocation is: 40% token sale, 10% marketing, 10% Sikoba Foundation (which will be created later) and 40% Sikoba Ltd (including team/advisors)
As of now (early July 2020), there are a total of 1.775 million tokens outstanding, counting the SKO1 tokens that have not yet been burned and new SKO tokens. Of these, a bit less than 710k (or approximately 40%) have been sold, 425k (24%) were used for marketing and issued in lieu of payment and 178k (10%) are earmarket for the future Sikoba Foundation. Only 462k (26%) tokens are held by Sikoba Ltd.
Future token sales will, however, be made in accordance with the 40% - 10% - 10% 40% token allocation plan.
Sikoba tokens (“SKO”) will represent an electronic form of value that will be used to indirectly pay for commissions on the Sikoba network. There will actually be two types of tokens: SKO and SKS.
SKO is the main Sikoba network token, and this is the token being sold to fund network development. The price of SKO will eventually fluctuate based on supply and demand. Currently, there is no active market for this token, and we only have a record of token sales at (so far) steadily increasing prices. Once the mainnet is launched, a market for SKO tokens will be organized and the SKO price should be influenced by the actual growth of the Sikoba network as measured, for example, by transaction volume.
SKS is the internal Sikoba Gas token. All transaction fees on the SikobaPay network will be expressed in SKS. At the launch of mainnet, the price of SKS will be fixed against fiat at a level that is expected to make the system profitable for blockchain node operators—this is essential for the stability and security of the network. The goal is for SKS to track cloud computing and storage costs. This will make transaction costs stable and predictable over the long term, thus completely avoiding the large variations in transaction costs observed on blockchains such as Bitcoin or Ethereum.
SKS can be purchased using SKO using an internal market-maker. It will also be possible to exchange SKS back into SKO, but this will be subject to a conversion penalty.
To summarise: SKO are tokens whose value will fluctuate, while SKS tokens have a stable value. A user holding SKO will not be sure how many transactions she will be able to make in the future but may hope to see a price appreciation. A user holding SKS cannot hope for a price appreciation but will know exactly how many transactions she will be able to make in the future.
2017
We raised a small amount of funds via a sale of SKO1 presale tokens
1Q2020
We sold a small amount of tokens in a pre-MVP round
July-August 2020
We aim to raise enough to be able to fund development until mainnet launch as well as ICO/IEO preparation
4Q2020
The main funding round will ensure that we can scale the Sikoba Network globally and reach our goal of millions of users.
Late 2020
We aim to have SKO listed on a major exchange before the end of 2020
The demand for SKO tokens will be driven by users who wish to transact on the Sikoba network. Such users will have the opportunity to purchase SKO tokens for fiat money or cryptocurrency using various methods: on crypto exchanges, online using their credit card, from other Sikoba users or from local resellers, which are likely to include participating stores.
The Sikoba network will include a Special Purpose Vehicle (“SPV”) acting as an automated market-maker, fee collector and fee redistributor. By design, the SPV will tend to have a debit balance of SKS but will always tend to have a credit balance in SKO exceeding the value of its SKS debits.
With their SKO, users can purchase SKS from the SPV at a rate that reflects the market price of SKO (as the SKO price goes up/down, one SKO can be exchanged for more/less SKS). This increases the SPV’s credit balance in SKO, and increases its SKS debit balance.
When transacting, users are charged transaction fees expressed in SKS. These SKS are credited to the SPV, which reduces the SPV’s SKS debit balance.
With time, the SPV will tend to accumulate a net position in SKO. It will periodically distribute this to:
The Sikoba Federation members and the Sikoba Foundation will tend to sell SKO tokens for fiat to fund its operating costs, thus closing the circle.
Given a fixed supply of SKO tokens, this circular economy will naturally result in a tendency for the price of SKO to follow the number of transactions in the Sikoba network.