There will be a total of 100 million
CHAMA tokens of which 40% will be
made available for purchase during the
Token Sale. The Token Sale is scheduled
for Summer 2018 with more information
on the token sale and pre-sale terms to
follow. Further updates on the token
sale will also be posted on our
40 million Chamacoin tokens will be offered for a combined pre-sale and public sale in an uncapped auction, staged over eight days.
Pre-sale participants will receive a 35% - 50% discount (individually negotiated) for locking their tokens up for one year, or until the Chamapesa Network launches - whichever comes first. While pre-sale funds will be included in the auction, Chamacoins paid out to pre-sale participants will be held in escrow by the Solidus CFO until the lockup period expires.
32 million Chamacoin tokens will be sold in eight daily auctions, so four million tokens will be available each day. Pre-sale funds will be divided into eight equal portions and entered in the daily auctions
At the end of each auction, four million tokens will be distributed to the Ethereum addresses that paid in, including the pre-sale portion. This way, we ensure everyone receives the same price per token.
After the final auction, eight million bonus tokens will be awarded in an ‘ORCA’: Open Reverse Cascading Auction.
The day with the highest price will receive bonus tokens until its price is brought down to that of the second highest day (or the bonus tokens are exhausted). Any remaining bonus tokens will be applied equally to the two highest days, until they meet the price from the third highest day (or, again, until the tokens run out).
If we find there are still some remaining bonus tokens, they’ll be applied to the next three highest days to bring the price down, or the tokens run out. Bonus tokens will cascade in this manner until all have been distributed.