Place/Date: Russia - November 3rd, 2017 at 10:16 am UTC · 4 min read
Source: Titan Coin
Pre-ICO of cryptographic token Titan Coin starts on November 4, 2017, which is provided with the goods of industrial production. For the first time in history, ICO will be held in platform Byteball, so, the possibility of investing funds in the project is available only to holders of coins and tokens. The pre-ICO Titan Coin starts at the same time as the free distribution of Airdrop Byteball Bytes.
Byteball is a new generation of DAG-based crypto-currency without blockchain or mining, with fast and unchanging transactions that you can hide or confirm with the help of a third party. The platform was introduced in mid-2016. Its key feature is Airdrop – free token crediting to current bytes holders. The nearest Airdrop will be held on November 4, 2017 at 05.23 UTC (full moon). At this time, all holders of Byteball Bytes crypto currency will receive a certain number of tokens for free.
The price offered to the project investors: 1 Titan Coin = 0.0005 GBYTE = 1 kg of ilmenite concentrate. The total cost of the project will be 56,000 Byteball or 11.2 million US dollars in a crypto currency equivalent.
Pre-ICO will last for a month, the main stage will begin about two months after it. At the initial stage, Titan Coin is offered with an additional bonus up to 75% from the face value. At following ICO stages, bonus from the token’s purchase will be up to 25% from the face value.
Raised funds are necessary to create high-tech production of titanium products with high added value from titanium-bearing raw materials on the basis of the Tailing dump No. 1 existing resource base of the Zlatoust mining (Magnitka village, Kusinsky district of Chelyabinsk region). This facility contains about 2 450 000 tons of waste sands.
Results of trial drilling and X-ray fluorescence analysis conducted by the Institute of Mineralogy, Ural branch of the Russian Academy of Sciences, confirm that sands contain from 4% to 8% of titanium dioxide in the form of tiny particles less than 0.4 mm of the mineral ilmenite. In this way, the object is a warehouse of already mined and crushed material ready for industrial processing. In the processing of the total amount of resources it can be obtained about 350 000 tons of ilmenite concentrate with content TiO2 of at least 42%, which total cost is more than $100 million.
The amount of raw materials offered for sale within the ICO is 100,000 tons (100 million Titan Coin). The company provides an opportunity to buy TiO2 at a 15% discount from the market value in fiat money.
The repurchase of Titan Coin blockchain options will start 3 months after the end of fundraising. Quarterly repurchase will be 10% of Titan Coin. Also, investors will have the right to exchange tokens for the corresponding volume of ilmenite concentrate.
The global consumption of titanium dioxide has increased from 4.5 million tons per year in 2005 to 6.8 million tons per year in 2016, which amounted to about 13.5 billion dollars. The main countries providing growth in titanium dioxide consumption today are China, Indonesia, Thailand, the Philippines, India, Turkey, Russia and Brazil. Per capita consumption of titanium dioxide in China is 1.1 kg per year, compared with 2.7 kg for Europe and the United States.
In its pure form and in alloys, titanium is used not only in the aircraft building and automotive industries, but also in chemical, agricultural, food and medical industries, various industrial processes, as well as in sports goods, mobile phones and consumer electronics.
Depending on the total amount of funds raised, the project will be implemented completely or partially. Implementation of even the first stage of the project will allow the company to increase the volume of products significantly and strengthen the autonomy of Russia in the global industrial arena.