Simple Token Finalizes Token Sale Price and Announces "Dream Team" of Global Advisors

HONG KONG, Oct. 26, 2017 /PRNewswire/ -- Today, Simple Token officially announced final details of its upcoming public token sale, which opens on November 14, 2017. Additionally, the company announced relationships with a number of world-renown individuals and organizations, which will serve in both support and advisorial roles to the company. Advisors hail from the blockchain, consumer Internet and corporate environments and are based in key locations worldwide.

Creating a Best-in-Class Platform, Token Sale and Simple Token Ecosystem

Simple Token founder and CEO Jason Goldberg explains that from the beginning of the Simple Token project the goal was to be an example of a professional, responsible, "best in class" platform and token sale. To that end, he notes the following points:

    --  We partnered with King Wood & Mallesons & Perkins Coie on legal and
        regulatory matters and sought out legal opinions in numerous
        jurisdictions.
    --  We are taking great efforts to ensure that ST is a utility token, with
        definable utility and use of ST prior to token sale and distribution.
    --  We engaged three security auditors, Zeppelin Solutions, Cure53, and Bok
        Consulting to audit our smart contracts.
    --  We partnered with a "Big 4" firm on tax, governance, reporting, and
        transparency.
    --  We partnered with Smith & Crown to dive deep into Simple Token token
        economics and modeling.
    --  We established a Board of Directors for the OpenST Foundation with 5
        directors including 3 non-executive directors.
    --  We publish all of our work on our website, including our entire pitch
        deck, our technical white-paper, and a series of side papers that go
        deep into very specific ST topics.
    --  We have published our token sale smart contracts on GitHub, and we are
        in the process of publishing our project code on GitHub within next 24
        hours.
    --  We are highly responsive in our Telegram channel, making sure that every
        potential buyer-customer of Simple Token gets their question answered
        promptly and substantively.
    --  We've secured meaningful advisory board relationships that add value to
        the project, as described in detail below.

Sale Details - Finalized Token Sale Price at $0.0833 per token, $20M hard cap
Simple Token ("ST") is being designed as a utility token. Purchasers need to acquire ST in order to access protocols that will enable them to create their own branded tokens powered by ST. As such, the pricing of ST, as with any utility, is a very important topic.

The upcoming first Simple Token sale event on November 14, 2017 (commonly known as an "ICO") is required for two reasons:

    --  Because the OpenST Protocol requires staking ST to create Branded Tokens
        ("BT"), we need to first create ST and have some value placed on it by
        purchasers of ST.
    --  So that we can create an endowment for the community ecosystem. 27.2% of
        the ST token supply is intended to be reserved for what we call the
        Network Accelerator Program. This will be used by the OpenST Foundation
        Limited ("OpenST") to seed projects, developers, and teams that are
        building interesting use cases based on ST. In this manner we can become
        a seed program/accelerator for a new generation of apps launching
        branded token economies.

CEO Goldberg commented: "In keeping with our "best in class" ethos, today the company announced an important revision to the token economics for our first token sale." Simple Token is taking this decision for two reasons:

    --  We want to show responsibility and accountability towards the community
        and ecosystem we are developing and only take as much funding as we
        require for the next phases of the project;
    --  We believe this decision prices ST correctly and fairly for our
        customers at the launch of the OpenST protocol.

"Here are the token sale details, and we think our customers are going to like them," noted Goldberg. "And I'm always available in our Telegram channel to answer any questions."

Details:

    1. We have set the initial price for Simple Token at $0.0833 per token (vs.
       the previously marketed $0.1667) and we have lowered the hard cap to $20M
       vs. the previous $40M.
    2. 30% of the 800,000,000 token supply will be sold for $20M.
    3. This is more than enough revenue for us to accomplish our near to medium
       term plans.
    4. Our early backers, who have already purchased several million dollars
       worth of Simple Tokens in pre-sales, are supportive of this move.

Building a World-Class Team of Advisors
Also today, Simple Token also announced many of the members of its extended Advisory Board. Simple Token CEO Jason Goldberg commented: "We have carefully selected advisors who are helping us bridge the gap between the crypto world and mainstream businesses and startups. All of our advisors are playing an active role and working closely with our teams to refine our technology, token economics, and market development efforts. We will also be announcing additional technical advisors in the comings days."

Simple Token Advisors announced today include:

    --  Trent McConaghy. Trent likes to build things that matter for humanity in
        the long term. He's working on democratizing data. This is via Ocean
        decentralized data exchange protocol & network, BigchainDB & IPDB
        blockchain database protocol & network, COALA IP protocol, and advising
        the Estonian E-residency program. His long-term goal is to help ensure
        that humanity has a role in an increasingly autonomous world.

    --  Brian Lio. Brian is the founder and CEO of Smith + Crown. He is the
        Chief Research Adviser to the Digital Chamber of Commerce's Token
        Alliance and a Fellow at the Singapore University of Social Sciences.
        Previously, he founded the Bright Iron Group, a design, strategy and
        user experience consultancy based in NYC and has held positions at
        Microsoft and DDB.

    --  Allen Morgan. Allen has been deeply-involved with technology startups
        for more than 35 years. He is an early-stage investor and startup
        advisor. He also serves as Managing Director, New Ventures Group, at
        Idealab, where he is on the Board of Directors. Previously, he was
        Managing Director at Mayfield Fund. Prior he was a partner at Latham &
        Watkins and Wilson Sonsini Goodrich & Rosati.

    --  Jehan Chu. Jehan is co-founder and Managing Partner of Kenetic Capital
        (formerly Jen Advisors), one of the first Blockchain Venture Capital and
        Cryptocurrency Funds as well as Token Sale Consulting in Asia. An early
        investor in crypto-currencies, Jehan Chu founded Ethereum Meetup Hong
        Kong and grew it from 5 persons to over 1,100 and hosted >60 Blockchain
        events including Ethereum Founder Vitalik Buterin 7 times.

    --  David Bohnett. David is a philanthropist, technology entrepreneur, and
        the founder of early stage private equity firm, Baroda Ventures. David
        began investing in digital currencies and crypto companies in 2014. An
        internet pioneer, in 1994, David founded GeoCities.com, once ranked one
        of the four most trafficked websites in the world. GeoCities became
        publicly traded on NASDAQ and was acquired by Yahoo!

    --  Sebastian Quinn-Watson. Sebastian is a partner at Blockchain Global
        leading the Blockchain marketing and advisory business. He has advised
        on a number of successful and market leading projects such as Viberate
        (sold out in 45 seconds), Bankera (largest presale in history),
        Powerledger, Etherparty, Playkey.io, Airswap and others.

    --  Gary Nuttall. Gary is well recognised in the Blockchain / Distributed
        Ledger Technology arena, with particular expertise in the commercial
        insurance and legal sectors. He is a founding partner of Team
        Blockchain, a global virtual consultancy practice and sits on the TechUK
        DLT Working Group. He writes articles for magazines and thought
        leadership blogs with a particular emphasis on blockchain.

    --  Chris Dark. Chris is President International at C2FO. Based in the C2FO
        Hong Kong office, Chris is responsible for C2FO business in EMEA,
        Asia-Pacific and LATAM. Prior to C2FO, Chris held key leadership
        positions at Atomico, AOL (advertising.com) and Bain & Co. Chris is a
        former entrepreneur and the Founder of GameReplays.org, an early eSports
        community founded in 2002.

    --  Daniel Weinberg. Daniel has over 20 years' experience in financial
        trading & technology. He was a Senior Partner of Optiver APAC and
        founding member of the Optiver Global Foundation board. He is also a
        member of the Derivatives advisory committee for the Hong Kong,
        Singapore and Korean Exchanges and an adviser to a number of businesses
        spanning multiple industries and jurisdictions.

    --  Thomas Power. Thomas is a cutting edge Board Member to numerous
        companies involved with Bitcoin, Ethereum, and Ripple, deeply connected
        in Silicon Valley, NYC, London, Australia, New Zealand with over 200,000
        Twitter followers since March 2007. Raised and sold over £1bn since
        1980. Focused on AI Big Data Bitcoin Blockchain Crypto Ethereum FinTech
        ICO SaaS Social Media Tokenomics ...very Geeky, Social and Likeable.

    --  Adam Jackson. Adam is a technology entrepreneur and investor obsessed
        with creating beautiful and intuitive software. Currently an active
        investor & advisor to early blockchain projects. Prior he was CEO and
        co-founder of Doctor On Demand. Previously founded DriverSide and
        MarketSquare. Angel investments include: Bolt, Placer, Aktana,
        Rapportive, MyTime, Automatic, Womply, Superhuman and Zenefits.

    --  Matt Chwierut. Matt Chwierut is the Research Director at Smith + Crown.
        He guides a research team in evaluating new cryptocurrency protocols,
        authoring briefing memos on key emerging topics, and reviewing countless
        white papers and is a Fellow at the Singapore Institute of Management.
        He holds degrees from University of California Berkeley and Stanford
        University.
    --  Tony Evans. Tony is a specialist in fiat and crypto currency based in
        Tokyo, Japan, with over 12 years experience in Asia. Tony has over 14
        years' experience in Europe and Asia in the finance industry from client
        facing, portfolio management, to managing teams.

Join the conversation on Telegram: https://t.me/simpletoken, and for more details on Simple Token please visit: http://simpletoken.org/about.

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