The SKRAPS token, with the symbol SKRP, has the purpose of paying transaction fees in the Skraps platform and the services of the portfolio managers.
The first thing that Skraps will dedicate itself is to the development of a desktop app for the platform, with the beta version ready by April 2018. Once the desktop app is stable, there will be a mobile app in plan. The finalized versions of both the desktop and mobile apps will be released to the general public by June 2018.
After the releases, the project will be subjected to an open source governance process by the community.
About the team
The Skraps team is comprised of members that have years of experience in the blockchain, finance and marketing sector.
The cofounders, Kal Mokhtar and Mohamed Effat, both have their bachelor in Business Administration. The former has been involved in other projects, while the latter has activated as a financial analyst in various companies in his domain.
The capital that will be raised from the ICO will go to the improvement of the platform and marketing to spread awareness to new customer segments.
The total number of SKRAP tokens that will be created will be 110 mm. Out of these tokens, 66 mm of them will be used in the token sale, 11 mm will go to paying the founders and advisors/team, 5.5 mm tokens will be used to finance Marketing and Bounty programs and 16.5 mm tokens will be reserved for future token issue. All tokens that remain unsold will be burned.
Skraps has already raised its softcap of $1 m in just a few hours after starting its sale. Their target hardcap is of $21,450,000.
SKRAP tokens can be purchased by using Bitcoin, Dash, Ripple, Ethereum, Litecoin and Bitcoin Cash. Because of the volatile nature of cryptocurrencies, the prices have been fixed to USD as follows:
- Week 1: $0.30
- Week 2: $0.35
- Week 3: $0.40
- Week 4: $0.45
Skrap is a micro-investment platform that combines the best parts of traditional micro-investing with cryptocurrencies. This ICO will financially help the project develop all its sectors.