6.1 Details of the ICO

The goal of the ICO is to exchange GET for Ether (ETH) for an equivalent in €15,000,000 at maximum and €2,300,000 at minimum. The exchange of ETH against GET will be smart contract based. Some of the numbers may change with ETH exchange rates and volatility, but the following numbers are best effort estimates as of 1 November, 2017. This blog post goes into details about the choices made and Ethereum / €lockrates that will be used in pricing the contributions and for the amount of GET that is issued per Ether collected.

GUTS/GET Protocol

Euro

Ether lockprice*

Total

Softcap

€2,3million

Reached

8.560.800GET

Hardcap

€15million

Croudsale will end on 13th of December 2017, 13:00 CET.

90.000.000GET

Pre-sale private

€1,8million

€258,29/ETH

7.200.000GET

Pre-sale public

€0,5million

€262,17/ETH

1.351.351GET

General sale

€12,7million

€275,44/ETH

15.826.432,55GET*

Table 12: Summary of the GET Protocol ICO. Details about the recalibration of the hard-cap on the half-way point due to the increased ether price is described in our blog. All tokens that will be left unsold during the general crowdsale will be burned. Tokens allocated to the partitions (UGF, Team, etc,) will be burned according to ratio. *Due to the rise in Ether price GUTS has decided to burn unsold GET to ratio on the half-way point of the general sale. This meant that on 29 November 13:00 CET the ether held by GUTS was re-valued at e418.66. 12.5 million unsold GET where burned from the crowdsale.

Roadmap GUTS/GET

2017

2018

2019

Strategy

B2C - Target: Event organizer

B2C + B2B Target: Ticketing companies

B2C+ B2B Completely open platform

Focus region

Netherlands

Europe + North America

Asia

Tickets sold

10k tickets

200k - 300k

1million +

Table 12-1: GUTS roadmap.

Crowdsale contract details .

  • Length of the ICO: 28 days (4 weeks).

  • Starting-date of ICO : 15 November 13:00 CET.

  • Ending-date of the ICO: 13 December 13:00 CET.

  • Total token supply: 90 million GET tokens - UPDATE: 33,368,773.40 GET where minted after finalization of the crowdsale.

  • Maximum financing : e15.0 million - UPDATE: In total e6.253.185 was raised during the whole crowdsale period.

  • Minimum financing : e2.3 million - UPDATE: The soft-cap was reached after having completed the private pre-sale of 6968 Ether valued at e258/ETH. Combined with the capped public pre-sale with 809 unique participants collecting 1908 Ether valued at e262/ETH. For more details about these two sales consult this blog post covering both the public and the private pre-sale.

  • GET are coded as such that they cannot be transferred/movable to another address until 10.00 CET on the 20th day following the date on which the ICO ended (i.e. if it ended on 13 November 2017, GET can be transferred on 20 December 2017), a period which the Foundation will use to validate whether the ICO was conducted in a fair and orderly way.

  • Token contract address: Jan Tooropstraat 1, (1062 BK) Amsterdam, e-mail address: [email protected]

  • There will only be one GET Protocol ICO. The tokens issued during this ICO will be the only GET tokens ever to be issued by the protocol. UPDATE 20 December 2017. The GET Protocol crowdsale contract is finalized. This transaction link to etherscan shows the calling of the crowdsale contract and thereby definitely ensuring that additional minting/creation of GET by this contract is not possible.

*UPDATE 27 DECEMBER 2017. As of now the GET Protocol crowdsale has been completed (the crowdsale ended on 13 December at 13:00 CET). In this blog you can read more about the finalization of the crowdsale and the about the total amount of GET minted, burned and vested. As of 20 December 16:00 CET the GET token has made movable, meaning that the crowdsale contract cannot mint any more tokens GET tokens as well as it will allow holders/owners of the token to move and trade the token as they deem fit. The token can be found on etherscan at ’0x8a854288a5976036a725879164ca3e91d30c6a1b’.*

The different partitions and their effect on circulating supply

Partitions

Public crowdsale

User Growth fund

Stability fund

Team

Bounty

Initialy issued total 90million

36.9000.000

27.000.000

12.600.000

11.700.000

1.800.000

Effects circulating supply

Yes

No

NO

Yes, after min. 1 year vesting.

Yes, from mid jan'18

Total Burned

26.998.608

19.755.079

0.00

8.560.534

1.317.005

Total issued/Minted

9.901.391

7.244.920

12.600.000

3.139.465

482.994

Table 13: Summary of the circulating and maximum supply of GET. Check the minting, burning and vesting specifications and subsequent proofs by viewing this public Google spreadsheet. Monitor the movement of the GET on etherscan. Circulating supply: 10 384 386 Maximum supply: 33 368 773 Total Vested: 22 984 386

The crowdsale contract and its audited code can be found on etherscan. The contract was owned by ’0x8a854288a5976036A725879164Ca3e91d30c6A1B’.

  • Crowdsale: Directly effects circulating supply. These GET are controlled by crowdsale participants and can be sold for any price in any way these holders deem fit.

  • User Growth Fund: This partition does not effect circulating supply. GET issued in this partition will be put in a vested contract until 1 April 2018*, after which the tokens issued will be given their function within the GET Protocol as described in chapter 3.6 of the whitepaper.

  • Stability Fund: This partition does not effect circulating supply. GET issued in this partition will be put in a vested contract until 1 April 2018*, after which the tokens issued will be given their function within the GET Protocol as described in chapter 3.8 of the whitepaper.

  • Team: This partition not directly effect circulating supply. All tokens issued in this partitions (see spreadsheet tab 2) will be put in vested wallet contracts of minimum 1 year, with larger holder having an additional 1 year linear vesting period attached to their token partition. This means that the team members will not have control of their tokens for at least 1 year and we can therefore state that these tokens will not effect circulating supply in the short term.

  • Bounty: The tokens in this partition will enter circulating supply. These tokens will be issued mid-January and will then enter circulating supply.

Summary of the circulating and maximum supply of GET. Check the minting, burning and vesting specifications and subsequent proofs by viewing this public Google spreadsheet. Monitor the movement of the GET on etherscan.

Disclaimer

GUTS Tickets will never approach and/or provide crucial information (especially sensitive instructions like contract addresses) to investors via Slack, Telegram, RockChat or any other messaging application with exception of Intercom. This type of communication will exclusively happen via e-mail or via the GUTS ICO application. In this blog post you can read step for step how the self build ICO application will ensure that the crowdsale will be secure, controlled and will follow our planning.