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This allows to tokenize off-chain pre-eto round. Pre-liminary solution before platform offers such service as a product.
It works as follows:
company provides a list of investors, for each a number of equity tokens created is specified (allocation list)
company specifies convertible note token price (it's also specified in prospectus which is public document so it always may be audited)
company sets up allocation in token controller
company makes allowance in Euro and Ether Tokens for the Token Controller that allows to pay fee to NEU holders.
platform operator legal representative executes the allocation after checking if token price matches prospectus
such execution will: (1) issue new tokens to investors on allocation list (2) pay 2% fee in tokens to NEU holders (3) pay 3% fee in Euro and Ether to NEU holders (4) generates NEU for the investors on the current curve (money in - NEU out)
The text was updated successfully, but these errors were encountered:
This allows to tokenize off-chain pre-eto round. Pre-liminary solution before platform offers such service as a product.
It works as follows:
The text was updated successfully, but these errors were encountered: