GES ICO — New Improvement Plan
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Dear GES Community,
As promised, we have some big news for you, our newly and greatly improved ICO:
1. We are incorporating Blockchain concept and development into our e-business ecosystem
GES is an eCommerce Ecosystem that incorporates the hybrid P2P Blockchain model, and set to be the market leader in Preowned and Refurbished Consumer Electronics.
GES will incorporate P2P blockchain concept and development onto its phone trading-in website, Mobilefreak.com:
· Peer 2 Peer Model to incorporate the C2B as well as B2B market segments and models (meaning that consumers and businesses sell their used phones to other businesses)
· Blockchain to record region/version of goods, phone industrial grading, IMEI numbers, logistics, tracking numbers and escrow system.
· GES tokens will be used for listing services and selling fees.
We believe blockchain integration on a preowned phones/electronics trading platform could resolve the trust and credibility issues in terms of supplier quality, product grading and quality standards, IMEI tracking (to ensure proper tracking and goods are not stolen or even fake),payment for goods and services as well as ensuring functionality and efficiency.
This model will allow GES to become an ecommerce ecosystem and a market leader that comprises of the following SBU’s via its different owned websites:
· B2C; B2B; C2C; C2B
A Hybrid phased-in model is required so that its current businesses (other websites with sales and tractions) won’t be affected especially when it has already reached monthly operationally breakeven point. On top of that, a centralised system best suit a B2C model since volume selling in refurbished items need careful quality control to ensure consumer satisfaction and hence repeat buying.
This will be reflected on the Whitepaper part and our blockchain team is on it right now.
2. Our token value will be revised to 10,000GES Tokens : 1ETH.
This is after hearing feedback from the community that such price per token is more appropriate. (Note: Previous backers at 100GES : 1 ETH ratio will receive the extra tokens in accordance to the new ratio).
3. All 10ETH and above backing will receive 10% extra boost on tokens. If any current backers wish to back us more given such improvement plan, we will give token boost too.
4. New Minimum investment will be 0.5 ETH.
5. New official ICO launch date will be 15th January to 28th February
6. No Soft-cap. Target Raise amount is 5M USD.
Hard Cap is 25,000ETH which will allow us for maximum and aggressive growth by achieving economies of scale and global reach.
(Remember GES is a company with real traction (achieved 20M USD in its first year of operation) and has achieved monthly operationally breakeven, and hence all funds raised will be mainly used for growth).
7. Token economics:
a. GES will allocate 20% of Quarterly Profits for Quarterly Market Buyback; (*(Numbers will be audited annually as required by Hong Kong Tax Authority)
b. GES will commit to continue buy back the tokens with the allocated profits up to 15 years (extended from originally stated 10 years);
c. GES will burn at least 50% of the bought back tokens from the market so that the token supply on market will be reduced and when profits increase, holders will be hugely rewarded.
8. Value Protection Mechanism: Token Redemption
a. GES will commit to redeem/buyback its tokens as long as prices fall below its average ICO price (based on USD/USDT). This is regardless of profitability and we commit to eventually buy up all tokens as long as prices fall below ICO averaged USD price, to give our backers the value protection guarantee to illustrate our confidence in our project.
This means that we actually provide you a safety net such that you can only look forward to gains and upsides. This demonstrates the kind of confidence and commitment our team has on the project success.
This Redemption Program will be based on the following quarterly schedule:
· Each Quarter of 2018 and 2019: 5% of sold GES Tokens (buy back as long as price below ICO USD price)
Total: up to 20% max in 2018 and 20% max in 2019 Respectively
· Each Quarter in 2020 and 2021: 7,5% of sold GES Tokens
Total: Up to 30% max in 2020 and 30% max in 2021.
· Year 2022: We will redeem all sold tokens within this year as long as the prices are below ICO average USD price.
9. Listing on Exchange:
We will be listed on at least 2 CentralisedExchange. One of them will be at least a medium sized exchange such as Kucoin, Coss, Yobit or Cryptopia. However, due to current negotiation and NDA, we can only disclose when terms are finally agreed.
We will also be listed on Bitmart, which is a new exchange currently doing an ICO, of which our CEO will act as their advisor.
10. Extra boost for early backers
Lastly for those early backers, we will distribute the tokens in accordance to the new ratio and offer an extra 5% boost, for the understanding and support in the project, including the delay to make it better for everyone.
We will organise a video interview with the CEO in couple of days to explain how important and positive these changes are, and the related details. Plus some minor updates too. So stay tuned!
GES Team.
22nd December 2017
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