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RE: First Steem Airdrop – Why Do I Think VICE Token Will Succeed?
How will this airdrop happen? Will we have an extra tab in our wallets with vice token?
Why are people paying with ETH? I thought they are gonna buy with Steem?
And it will be an ERC 20 token right? So it will run on the Etherum Blockchain?
I am so confused...
Good questions!
Im not gonna act like i know the answers...It will most likely not be a tab, but who knows how will SMT work in reality. I was also confused about the ICO being ETH based. Steem, throught SMT, is probably involved just with the airdrop and by "backing the VICE", but the actual fundraising is done through ETH (even though I dont know why)? I also thought that SMT will be the "smart contract" base, not the ETH... but i really have no clue:)
Looking through the whitepaper, it sounds like they will be fundraising on Ethereum and distributing ERC20 "proxy tokens" in advance of the actual SMT creation. They say they will have the mainnet and video platform running in June, and there will be a time for swapping out the ERC20 proxy tokens for the SMTs.
Out of 4 billion tokens, 50% will be sold in the crowdsale, and another 10% will be airdropped to Steem holders based on a snapshot of Steem block number 18,500,000.
The remaining 40% of the token supply is split among early investors (15%) and the 'Tokken' company (25%).
Check pages 16-18: https://vicetoken.com/static/Vice_Industry_Token_Whitepaper.pdf
so the erc20 tokens are more or less a place holder