SATURN Token Details

whitepaper

#1

7. SATURN Token Details



Figure 7.1: Token Distribution


Info Details
Token standard ERC223[94]
Total supply 1,000,000,000 SATURN
ICO start date May 1st, 2018
ICO end date July 31st, 2018
Tokens allocated for ICO 500,000,000 (50%)
Founding team & Partnerships 200,000,000 (20%)
Strategic Investors[95] 150,000,000 (15%)
Protocol development fund 150,000,000 (15%)
ICO price 1 ETH = 1 STN[96] = 50,000 SATURN

  1. https://github.com/ethereum/EIPs/issues/223 :leftwards_arrow_with_hook:
  2. https://rados.io/saturn-network-presale-update/ :leftwards_arrow_with_hook:
  3. STN tokens, currently traded on Radex, will be redeemable for SATURN​ tokens during
    the ICO period at the same exchange rate as ETH. :leftwards_arrow_with_hook:

Saturn Network Whitepaper v1.2
#2

Hi Team,

Could you please explain on the usage of Protocol Development Fund?

I see this portion on the ETC chain was sold to raise fund for the project (1ETC = 50k Saturn Classic). When we launch Saturn on other blockchains, will we also offer this portion to public sale? If yes, at what price will it be? Or, the question is how much market cap of this portion will we raise? And who will make these decisions? Thanks for clarification.


#3

Hello! Great questions :slight_smile:

The protocol development fund on ETH is intended just as the name specifies for developing Saturn Protocol. At this point in time I believe it has not really been touched, our development team hires on demand but as you can imagine the great developers we need are sometimes wary of accepting payments in tokens. However, I am sure as our token becomes more established and awareness grows then it will see more use.

Yes for future blockchains, just like ETC, this allocation will be sold via public sale. One it helps onboard the new blockchain’s community into our own, as we saw with ETC, even though we had announced our intentions of being multi chain there was not much interest from ETC’s community until we started the public sale. Secondly, it allows us to quickly raise funds to remove any blockades from entering the new chain, for the case of ETC, we needed to develop a dApp browser(Saturn Wallet) immediately or our tech would have been unusable there.

The allocation will always be 15%, and I see it being exactly like on ETC, the sale will run until it is all sold. In regards to who decides the price, think of it like this, the developers build the technology and then sell their control of it to DAO - so the price really is kind of arbitrary and would depend on what chain but it would be decided by the development team.


#4

one thing to add - selling a portion of tokens for native currency (i.e. ETC for saturn classic) properly aligns incentives. Now that we have some ETC we are financially incentivized to make great products for the chain and grow the ecosystem. Whole crypto is about figuring out the right incentives, and we believe that this structure properly aligns incentives between the community, the investors, the devs and the founders.