The Asura Coin ICO
What is Asura Coin?
Asura Coin seeks to take advantage of the growing trend in Esports tournaments and betting. According to the Asura team, there are many problems with current Esports platforms.
First, current betting rules lack creativity and are uninteresting to many users. Second, players that want to learn how to play better find that there are no decent guides on how to reach the professional level of play skill. Third, the community matchmaking process is costly because of its closed-source nature, requiring audits to guarantee trust. The Asura team believes a blockchain-powered network can solve these problems.
How does the Asura Coin platform work?
In the Asura Coin platform, betting rules are created by users and voted on by the community. A user whose betting rule wins the vote receives ASA coins as a reward. These rules are created using a smart contract called Rule Creator. This leads to unique and exciting betting rules.
In addition, the Asura team plans on recruiting professional Esports players to create video guides. These will explain how to play popular Esports like Dota 2, League of Legends, etc. The first video in each of these guides will be free, but users will have to pay ASA coin in order to unlock the rest of the videos. The ASA coin fee paid for these videos will be given to the professionals who write the guides.
Another feature of the Asura Coin platform is that community matchmaking and tournament hosting will be handled through open-source smart contracts. This will reduce cost by eliminating the need for third-party audits.
It will also guarantee to players that they will be able to withdraw their winnings whenever they want. Since user deposits will not be held on a central server, Asura employees will not have control over them, and users will be assured of the safety of their funds.
Because of these advantages, the Asura team believes it will be able to capitalize on growth in the Esports business.
How is Asura Coin unique?
The principal competitors to Esports are centralized betting services that primarily cater to fans of physical sports, but that do have a division dedicated specifically to Esports. These include Betway Esports, Bovada Esports betting, and Pinnacle Esports. It also includes a few businesses that cater specifically to Esports fans, such as EGB.com.
However, the team believes the Asura Coin platform has significant advantages over these others due to its decentralized, blockchain nature.
Who makes up the team behind Asura Coin?
The Asura Coin team consists of experts in marketing, business operation, blockchain technology, and engineering. It includes CEO Peter Shen (Founder of Fresh Koha), COO Eman Abdollahi (formerly Director of Development for Tofu Games Studio), Haoyang Fen, Nathan Frater (Founder of Outliers in Orbit), Steven Ngov, Dang Tie Peng, Kang Ji Hye, Huan Pang Ding, Stuart Feigin, Nick Fujita, Richard MacDonald, Cecilia Xu, and Taylor Liu.
More details about the Asura Coin ICO
The Asura Coin ICO is launching at 4am (GMT) on 21 May, 2018 and is due to end at 4am (GMT) on 15 June, 2018. Investors that want to participate will need to sign up for the whitelist, which can be done from this url. For the public, tokens will be transferable immediately after the ICO ends.
The Asura Coin tokens will cost US$0.02, to be paid in NEO equivalent. The minimum investment amount for an individual to participate is 1 NEO.
For the first day of the ICO, the maximum amount of Asura Coin any single investor will be able to buy will be 50 NEO worth. For the second day of the ICO, the maximum individual cap will be 500 NEO. After Day 2, there will be no maximum cap for individuals.
The team will go forward with the project if it raises US$2 million. The total maximum cap will be US$12 million.
Investors who participate in the first 24 hours of the crowdsale will receive a 20% discount. In the first two hours of Day 2, investors will receive a bonus of 10% extra tokens. For the rest of Day 2, a bonus of 10% will be given out for any investors that buy 100 NEO or more worth of Asura Coin. After Day 2, there will be no more bonuses.
The May 21 ICO will comply with the following allocation strategy:
- 65% of the tokens will be sold in the crowdsale
- 25% will be reserved for growth and betting
- 10% will be given to the Asura team and advisors
The following restrictions apply to the tokens allocated to the team and advisors:
- Tokens allocated to advisors will be locked for 12 months and then released
Tokens allocated to the core team will be locked for 12 months, immediately after which 25% of them will be released. After this, 12.5% of the remaining tokens allocated to the team will be made transferrable each quarter until no locked tokens remain