X Pool (XBTC)
A global and decentralized Bitcoin mining project with backers` reward system
The XBTC tokens represent ownership of the following assets: - The active 50 Petahash of Bitcoin Unlimited miners and power supplies; - 90% of the Bitcoin profit generated by the 50 Petahash of Bitcoin miners discounting electricity costs. The average power consumption of the Bitcoin miners is 300W/T; - 60% of the ETC funds generated by selling XBTC will be used to purchase new Bitcoin miners to increase the hashrate of the project, which is expected to increase 50 to 70 Petahash; - 90% profit after discounted electrical cost from the purchased miners ( 50-70 Petahash ) with 60% of ETC funds received by XBTC sale, the average power consumption of miner is 100 W/T; - 90% of the Bitcoin profit discounting the electricity will be used to place buy orders for XBTC, if the buy orders cannot be completed within 30 days, the purchase orders will be cancelled and the Bitcoin will be used to purchase new Bitcoin miners to generate more Petahash. Also, the 90% of the Bitcoin profit generated by new Bitcoin miners discounting the electricity.
The sale of the XBTC tokens is achieved through a smart contract based on the Ethereum Classic blockchain. The purchase orders for XBTC token is processed on the Ethereum Classic network.
|ICO start date||05 Feb 2017|
|ICO end date||06 Apr 2017|
|Registration Country||Hong Kong|
|Additional Token Emission||No|
Total supply: 21,000,000 XBTC tokens It is planned draw 12mln ETC emission 21mln XBTC tokens. After the end of ICO, XPool will begin gradually to purchase and destroy X-BTC tokens, creating shortages and guaranteeing a profit for its investors. 60% of the ETC funds generated in selling the XBTC token will be used to purchase new Bitcoin miners (the power consumption of the new Bitcoin miners is 100W/T) to increase the hashrate of the project, which is expected to increase from 50 to 70 Petahash. The remaining 40% of the ETC funds generated in selling XBTC token will be owned by the manager of the project and the funds will be frozen for 6 months. During this period, the manager of the project cannot use the funds. After discounting 10% for electricity costs the remaining 90% of the Bitcoin revenue will be used to place buy orders for XBTC in the EXX token exchange market, the price of XBTC equals to 0.7 ETC. The remaining 10% of proceeds after deducting the electricity fees is the operation costs.
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