True Flip, the provably fair international lottery, has successfully closed the company’s TFL tokens sale at 10:00 am (UTC), July 29, with the mark of 2000 BTC exceeded.
The first blockchain-based lottery solution with a viable business model has attracted the promising 3000+ participants (including direct transactions to the smart contract), who now own over 6 200 000 TFL tokens sold for 0,0005 BTC per TFL.
According to the initial plan:
- 20% (1,785 mm) of the general token amount is reserved for the project’s team: 20% of these unlock with the crowdsale end, 40% after achieving development KPI's and 40% in a year after the ICO.
- 10% (0,89 mm) are allocated to finance Advisory (5% - 0,45 mm), Escrow (2% - 0,18 mm) and bounty campaign (3% - 0,27 mm).
The original emission plan included 21 000 000 TFLs. The remaining tokens won’t be produced which results in proportional increase of each token holder’s share. The finalized share sizes will be calculated within the next weeks regarding the amount of tokens sold.
“We are completely satisfied with the results of TFL token sale. Last month has brought us new experience and new partners and for sure this will result in major improvements of True Flip. The funding we've gained is more than enough to follow the roadmap effectively and in comfortable terms for the team. Now we finalize crafting the business strategy in regard with received funding and then concentrate on the nearest milestones. These include listing TFL on exchanges, launching extra gaming options, bringing further decentralization to the system and scaling True Flip promotion”, - said CMO of True Flip Konstantin Katsev.
“First, i'd like to thank all token holders for their priceless support of this project. I'm sure there're no obstacles now to thwart our way ahead! With good efforts already made we’re ready to face the tough challenge of gaining the desired market share. True Flip has all the prospects to set the industrial standard in provably fair gaming. This target motivates the team on it's step by step track towards the desired product and business setup. In the nearest weeks we’ll provide more news on True Flip’s current workflow and further development”, - stated the company’s COO Nikita Parkhomenko.
The TFL token sale targets are:
o Boosting technical development and decentralization, extending gaming options;
o Forming a large Jackpot;
o Funding the marketing campaign;
o Scaling the business model.
TFL’s provide their holders with the following opportunities:
o 10-15% of daily ticket revenues participate in a regular closed draw only for token holders;
o TFL listing on exchanges within 2 weeks following the crowdsale end;
o The holders take part in key business decisions consideration;
o Special private lottery for the holders to be hold in September, 2017
True Flip resides in Costa Rica, where legislation allows online lotteries. The team is multinational. The lottery's Draw transparent code is released on Github.
You can learn more details about True Flip's business, its team and the White Paper on ico.trueflip.io. Also please visit trueflip.io to explore the lottery.
True Flip Team