Spotcoin (SPOT) make digital currencies work for everyone.
The digital asset marketplace often mimics a futures market more than a spotHistory Timeline
market. Where others must navigate multiple markets and their corresponding high
fees to obtain liquidity between fiat currencies and digital assets, Spotcoin provides
users with an efficient, cost-effective alternative. Spotcoin was founded to meet
the increasing demand for rapid digital to fiat currency trading with the launch of
our over-the-counter marketplace. Due to our access to working capital and wellsupplied,
diversified digital asset accounts, we were able to provide fast, effective
solutions for our clients by delivering trades that were much closer to the spot price
at transaction initiation.
Spotcoin processed over $1M per month in trades just two months after its
November 2016 launch. Our proof of concept was affirmed as market demand
increased. The company cleared over $5M in trades by the end of its second
quarter in operation. Due to the overwhelming response, the founders recognized
that the business required additional investment to grow its OTC business and
expand its range of services. What began as an exquisitely simple way to handle
the digital asset management needs of our colleagues and friends expanded into
a much broader business. We are honored to bring transparency and innovation
to this fragmented marketplace. As we move forward toward 2020, pioneers like
Spotcoin will reshape and further define the marketplace for digital assets and their
effects on the global economy.
NEO is an open source, non-profit, community-backed blockchain token platform
that aims to create a distributed network “Smart Economy.” NEO is ideally suited
to provide the platform that will best support Spotcoin’s vision for the future. NEO
was specifically designed to address legal and regulatory requirements for both
fungible and non-fungible digital assets. NEO also incorporates digital identities
which makes its network, and any tokens built upon it, ideally suited for satisfying
know your customer (KYC) and anti-money laundering (AML) requirements.
NEO’s founders intend to work within existing legal and regulatory frameworks to
bring real world assets to the blockchain. Spotcoin is excited about NEO’s vision
and is directly allocating company resources to support NEO’s goal of 100,000
Transactions Per Second by 2020.
See who we are and hear what we do at Spotcoin
What does Spot coin do?
We are an over-the-counter clearing house that provides ease of movement between fiat and cryptocurrencies. With our rapid growth, we've expanded into a multi-faceted powerhouse engaged in mining operations, education in the Black Sea Region, and building a global digital exchange based in Georgia.
At Spotcoin, we bridge the gap between the traditional banking sector and the emerging digital currency marketplace. We are focused on making the financial institution of the future accessible for everyone.
Through our partnership agreement, Spotcoin designed and initiated an
environmentally friendly $3.25M facility utilizing hydroelectric power scalable up
to 25MW. Our new facility will house 2,250 GPU miners with capacity to host up to
9,000 additional units on behalf of clients.
The Spotcore engine will sit at the heart of Spotcoin’s business. Spotcore is a
process-mapping system that consists of automatic checks on wallet balances,
fiat / digital exchanges, and trade matching. The Spotcore engine will seamlessly
integrate each component of Spotcoin’s toolkit. Our fiat to digital asset exchange
is designed around user experience allowing for fluid movement between
our digital exchange, mining operations, Spotpay payment system and OTC
marketplace. Spotcoin’s unified interface provides users with a comfortable, easy
to navigate experience built upon simplicity.
Initial Coin Offering (ICO)
Spotcoin will hold a Private Placement (PP) and Initial Coin Offering (ICO) to raise
capital for the expansion of its business. Our NEO smart contract will be available
for public review by April 10, 2018, prior to the Pre-ICO Sale start date on
May 1, 2018. There will be a maximum of 99,000,000 SPOT tokens, of which
66.7% (66,000,000 tokens) will be available for sale, and 33.3% (33,000,000
tokens) which will be reserved for the team and for Spotcoin’s treasury. This 2:1
ratio will be maintained in the event that the hard cap is not reached.
SPOT tokens will be priced at $0.50 USD per token during the Public Sale. For
digital currency contributions, we will use the market price of the digital currency
at the time of sale to determine the number of tokens to be reserved. Upon
completion of the ICO, unsold tokens will be burned. If the soft cap is not reached,
all contributions will be refunded (less transaction fees). SPOT tokens will be
distributed after our Big 4 accounting audit is completed.
Eligibility – Spotcoin LLC is incorporated under the laws of Georgia, with its
registered office located in Tbilisi, Georgia. Investors must adhere to all
KYC / AML compliance requirements. Currently, there are no regulations for initial
coin offerings in Georgia. Spotcoin’s Pre-ICO Sale and Public Sale is not open to
investors in China, South Korea, or the United States of America; however, U.S.
accredited investors, as well as residents and citizens of China and South Korea may
participate in the Private Sale via a Simple Agreement for Future Tokens (SAFT).
Spotcoin ICO Timeline:
Token Distribution – Spotcoin will use a trusted third-party token distribution service.
They will not release the tokens until our third-party, Big 4 audit is completed.
Refund – Tokens that are not sold during the Private Placement, Pre-ICO, or ICO
will be burned. The quantity of tokens to be burned, if any, will be published along
with the details of our Big 4 audit. ICO funds will be returned (less transaction fees)
one month after the third-party audit is completed if the soft cap is not achieved.
Minimum / Maximum Token Purchase – Spotcoin has instituted a fair token
distribution policy designed to prevent large investors from manipulating the
market for SPOT tokens. The maximum allowable purchase for a single investor is
1,000,000 SPOT tokens and the minimum is 50 SPOT tokens.
Private Placements – Private Placement investors may submit their KYC / AML
applications beginning on March 30, 2018 (U.S. investors will also be required to
demonstrate proof of accredited investor status). Spotcoin’s Private Placement will
begin on April 10, 2018 and will conclude on June 1, 2018 or once the hard cap is
reached, whichever comes first.
Pre-ICO and Public Sale – Pre-ICO and Public Sale investors may submit their
KYC / AML applications beginning on April 10, 2018 on Spotcoin’s website. The
Pre-ICO Sale will begin on May 1, 2018 and conclude on May 7, 2018, or when the
Pre-ICO Sale limit is reached, whichever comes first.
Treasury – Tokens held in the treasury will be used for creating exchange listing
liquidity and expanding our business over the next 5 years. Spotcoin will sell
a maximum of 20% of its initial treasury token balance as of the initial audit
publication date for each of the next 5 years to fund business expansion.
Token Utility – SPOT token holders will be entitled to a weekly dividend of 51%
of the total trading fees generated by Spoitcoin’s digital asset exchange. SPOT
token holders are also entitled to an additional quarterly dividend of 12% of the net
profits derived from Spotcoin’s mining, OTC and Spotpay payments businesses.
Bounty Program – Spotcoin will have two bounty programs as part of its ICO
marketing campaign; the investor bounty and the marketing bounty. Both programs
were established to reward our community during the ICO. For more information
on our bounty program please visit our website.
Here’s how Spotcoin plans to take advantage of the changing strategic landscape:
Agility is built into our business model. Innovation and flexibility will enable us to
rapidly exploit new developments in technology, regulations, and use-cases.