Logistics Firm A2B Direct Plans ICObr>
Logistics company A2B Direct is seeking to raise €500,000 to €3,000,000 in its upcoming ethereum-backed initial coin offering (ICO), which is set to go live on July 12 and will run for a month.
A2B Direct began operating in Eastern Europe in late 2016, and has since become known as a “freight Uber.” The platform allows for a direct interaction between a freight forwarder and cargo owner across all stages of cargo delivery.
The crowdsale seeks to finance transferring the platform onto blockchain in order to cut expenses for international transportation and allowing carriers and customers to work with fiat and cryptocurrencies at the same time. ICO participants will receive their share of the company’s profits similar to traditional shares.
The company will release a total of 30,000,000 tokens. The token price will depend on the number of vehicles subscribed to the platform; therefore, their price will directly reflect the platform’s activity. Owners of A2B tokens will be entitled to use them as soon as they are received.
ICO participants will be entitled to 6% of annual dividends if the platform manages to sell 2%-19% of the issued tokens. Investors will also receive 10% of the profits annually in case of more than 20 per cent of the tokens being sold. Additionally, A2B will award bonuses to token holders as of 2018.
The company has developed several strategies, depending on the amount of funds it will manage to raise. If the ICO manages to raise €500,000, A2B Direct will focus on hiring ethereum and blockchain developers. The company will also launch a European office and adapt its services to European standards if €1,000,000 is raised. Should the ICO raise €2,000,000, the company will open several offices in Europe while adapting its services for the specific needs of a particular country. If the ICO raises €3,000,000, they will launch an American office. In case the ICO fails to raise €500,000, the investors will receive their contributions back.