Our Launch Fundraising Campaign is open now for a limited time. This is your only chance to obtain BFD Tokens and be a BTRIC Founding Donor.
BTRIC’s mission is to work with great projects and transform them into awesome businesses through our Innovations Incubator program. Once they’re ready, we launch them as separate entities, ready for investment and primed for growth.
We also focus on industry-wide advocacy, educational, and research efforts to promote best-practices and smart approaches to changing the world through decentralization and other emerging technologies.
BTRIC Founding Donors receive BFD Tokens, which are Ethereum ERC20 tokens. Holders of BFD Tokens will be rewarded by every project that completes our Innovations Incubator program. Now, strictly speaking, you shouldn’t consider BFD Tokens to be an investment (as that has specific legal meaning), but when projects are launched as businesses they will provide rewards to all those that then hold BFD Tokens.
BFD Token holders will receive a grant of “BTRIC Coin” cryptocurrency or token when it is issued.
BTRIC Founding Donors can choose to be permanently recognized on our website and in our materials as a Founding Donor. (This is optional, we won’t list your name/business name, website, logo, and URL unless you give us permission!)
BFD Token Fundraising Campaign Details
Use of Funds
- Build out the infrastructure needed for operations of our organization, including “BTRIC Coin”, the Innovations Incubator, BTRIC Institute, and BTRIC Labs.
- Consult with cryptocurrency experts in developing and deploying “BTRIC Coin” as a cryptocurrency or token.
- Incubate the first three projects in our Innovations Incubator, which are code named “Bitcoin for Good”, “Cryptocurrency Federal Credit Union”, and “Sea to Table”.
- Accept more projects into the Innovations Incubator program.
- Cover all of 2018’s overhead, infrastructure, staff and contractor costs.
Ongoing rewards for BFD holders
In addition to being listed as a Founding Donor on our website and in our promotional materials (if you choose), BFD Token holders receive an additional, ongoing benefit.
An important benefit for holders of BFD Tokens is that they will be rewarded in some form by each project that completes the BTRIC Project Incubation Program. For example, when we issue the “BTRIC Coin” (working name) token or cryptocurrency in the second quarter of 2018, all those holding BFD Tokens at the time/date of a “snapshot” (to be announced in advance) will receive a grant of BTRIC Coin. You can read more about that in this white paper.
However, this is not limited to the issuance of our “BTRIC Coin”. Every project that completes incubation and is divested from BTRIC as a separate business will have a publicized “snapshot” date/time. All BFD Token holders as of that time/date will receive some benefit from the business that graduated from the incubation program as a separate business. In this way, you are rewarded by every project that completes the Project Incubation Program for being among the first to support our organization.
One of the conditions for acceptance into BTRIC’s Project Incubation Program is that the project agrees to provide some reward or benefit to donors to their project, which specifically includes all BTRIC Founding Donors.
Because the projects vary in their business models, and will also vary in the jurisdictions they do business in, this reward will vary from project to project. It could include (subject to applicable regulatory and legal requirements):
- Credits for use of their product or service;
- Free “not-for-resale” products;
- “Airdrop” coins or tokens;
- Buyback of coins or tokens; or
- Equity in the newly-created business.
By getting on board now as a BTRIC Founding Donor, you will receive benefits from each project that completes the BTRIC Project Incubation Program for as long as you continue to hold BFD Token. If you transfer your BFD Token, the benefits will be given to holders of BFD Token as of the next “snapshot” time/date.
March to July 2017
The initial concept for BTRIC was conceived while researching for a project using blockchain DLT and taking a close look at the state of the emerging technology industry.
August 30, 2017
BTRIC was incorporated as a New Jersey, USA non-profit corporation.
September 11, 2017
BTRIC was recognized by the Internal Revenue Service as a Section 501(c)(3) organization, which allows contributors to receive a tax deduction (to the extent allowed by law).
Beginning January 1, 2018
Until we reach our 2018 budget goal, BTRIC’s BFD Token fundraiser is in progress. Donors receive BFD Token in return for contributing to our launch.
BFD Token holders are our Founding Donors and are able to receive a free grant of BTRIC Coin, recognition on our website, and rewards from each project that completes the Innovations Incubator program.
By August 30, 2018
The statistical survey for interest in chartering “Cryptocurrency Federal Credit Union” will be completed, and progress will begin on Phase 2 if there is sufficient interest from the industry.
Become a BFD (BTRIC Founding Donor) Right Now!
|BTRIC FOUNDING DONOR TOKEN (BFD) TECHNICAL SPECIFICATIONS|
|Token name||BTRIC Founding Donor Token|
|Fundraising begins||January 1, 2018|
|Tokens generated||500,000 (fixed amount)|
|Date of token generation||November 28, 2017|
|Cost of token generation||$8.38 USD (0.0191592 ETH)|
|Token details URL||https://etherscan.io/token/0x117a4db782f29598d9627a57be5ed331f6aa446c|
|Contract address URL||https://etherscan.io/address/0x117a4db782f29598d9627a57be5ed331f6aa446c|
|Token vault address URL||https://etherscan.io/address/0xd4ff4eb15308ea72914d243a7b141a5ef1df40dd|
|Contract verified||Yes, on Etherscan.io.|
|GitHub contract repository||https://github.com/btric/bfd-token|
|Token fundraising goal||$500,000.00 USD|
|If the goal is achieved early?||The BFD fundraiser will end early.|
|If the goal is not achieved?||All remaining BFD will be distributed pro-rata.|
|Distribution schedule||Token distribution within 3 business days of donation.|
What are BFD Tokens?
BFD Tokens are “BTRIC Founding Donor Tokens”. They are Ethereum ERC20 compliant tokens and are a gift given by BTRIC to those that contribute to our launch. Those amazing people are our Founding Donors, and we recognize their contribution by giving them a token of our appreciation, in the form of BFD Tokens.
BFD Tokens were created especially for our launch fundraising event. No additional BFD can be created, and all BFD will be distributed to Founding Donors at the end of the fundraising period.
People that hold BFD Tokens will be provided rewards from projects that complete the BTRIC Innovations Incubator program. Every time a project completes the program, we will take a snapshot of all Ethereum addresses that, at that time, hold BFD Tokens and then we will coordinate a reward between the newly created business and BFD holders. Because the laws are different all over the world, we can’t promise any specific reward for a given project, but know that each will be fully compliant with applicable laws and regulations specific to the jurisdiction of their founding. Projects agree to this before entering our Innovations Incubator program.
What is the difference between BFD Tokens and "BTRIC Coin"?
Good question. BFD Tokens are special tokens given out to those that participate in our launch fundraiser. Some organizations give out mugs with their name on them, we give out BFD tokens. No more BFD tokens will ever be created and they will not be available from BTRIC after March 31, 2018 (or sooner if we reach our fundraising goal early).
“BTRIC Coin” is the code name of a utility currency or token we will be developing in conjunction with crypto asset advisors after we launch. The details of BTRIC Coin are presently not final. Will it be mineable? Will it be a cryptocurrency, with its own blockchain, or will it be a token on Ethereum or another platform? Simply put, we don’t know these answers at this time. We want to consult with crypto experts to make the best decision for our organization in consideration of our mission: emerging technology business incubation and industry-wide advocacy, education, and research.
What we do know is that when BTRIC Coin launches later this year, all holders of BFD tokens will be given a grant of some BTRIC Coins. This is part of the marketing effort for the coin or token. We also know that as a fully transparent organization, the steps we take to decide about the specifications of BTRIC Coin will be done in the open, and we invite participation from the industry and anyone else interested.
Are BFD Tokens mined?
No. BFD Tokens were created on November 28, 2017 by publishing a ERC20 smart contract to the Ethereum mainnet. This is the token details, this is the contract address, and this is the token vault address, all on Etherscan.io. Here’s our GitHub repository with the smart contract source code.
How many BFD Tokens exist?
Five hundred thousand (500,000) BFD have been minted. It is impossible to create more BFD, and 100% of BFD will be distributed to Founding Donors at the end of the fundraiser.
Are BFD Tokens able to be traded or transferred?
Of course. Once we give you BFD Tokens, they’re yours. You can trade them with other parties if you choose.
When will the BFD launch fundraiser be closed?
The BTRIC Founding Donor fundraising campaign will end when we reach our fundraising target of $500,000 USD. All 500,000 BFD tokens will then be distributed to our Founding Donors. BTRIC keeps none. Our Founding Trustees don’t get any either. They’re just for Founding Donors.