What is Betform
What is Betform
When we as the co-founders of Betform got together to start this company, it was our vision to have assets on the blockchain gaming be not only available to professional players, but rather something that can be used by any individual players in the social way and for fun.
At Betform, we strive to offer the user access to as large as possible a range of blockchain games at a maximum degree of convenience, while adhering to the highest security standards in the ecosystem.
We are able to do this by connecting blockchains, leveraging on the smart contracts, and Payment Channels, which works in a completely secure, instantaneous and low-cost manner. For further information, please refer to the whitepaper in respect thereof, accessible.
What is an Initial Token Sale?
An Initial Token Sale (ITS) is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for funding. For the party offering the tokens for sale, this has become a well-documented and well-respected way to raise funds to upscale an existing product or service.
The sale by the Distributor of Betform Coins in connection with an Initial Token Sale (the “Betform Initial Token Sale”) to you as a purchaser thereof, will be subject to and governed by the T&Cs - which is a separate document setting out the terms and conditions of the agreement as between the Distributor and you in relation to the Betform Initial Token Sale. This Whitepaper is not incorporated into and does not form part of the T&Cs. In the event of any inconsistencies between the T&Cs and this Whitepaper, the former shall prevail.
The Distributor is M@W or affiliate or any other person designated by M@W from time to time and will deploy all proceeds of sale of the Betform Coins to fund Betform’s cryptocurrency project, businesses and operations.
General Token Sale Overview
On January 8th 2019 starting at 9PM Singapore Time (see the applicable commencement times in more time zones above), we will offer 40% of all Betform Coins to be created for purchase by the public in the Betform Initial Token Sale under the ticker symbol GEM. A further 43.9% of all Betform Coins to be created will be distributed to identified investors. The remaining 13.5% of Betform Coins to be created will be distributed to Betform’s founders, employees and early investors as an incentive to ensure long term alignment of interests and commitment to the tokens and their future value and also for future business development and development. Further details of the distribution of tokens are set out below
Each Betform Coin will be sold for 1/4000 ETH, meaning 1 ETH will give you 4000 Betform Coins. There is a minimum purchase amount of 500 Betform Coins per purchase.
We will accept a maximum (fixed limit) of 24,000 ETH, for purchase of Betform Coins in the Betform Initial Token Sale. The Betform Coins created for such maximum amount contributed will in turn represent 40% of all Betform Coins. Should this amount be reached before the end of the sale on 4 January 2019, 8.59pm Singapore Time (UTC+8), which is 4 weeks after the token sale commencement date, we will cut off the sale.
Please note that we will not create any new Betform Coins after the Betform Initial Token Sale.
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