UPDATE: EventChain (EVC) is now listed on the following exchange(s): LiveCoin, EtherDelta.
12,600,000 (15%) of the EVC Tokens are distributed to EventChain’s legal entity. These tokens will be vaulted for a two year vesting period whereby 25% of tokens will be unlocked each subsequent six months, beginning from the date that participants receive their EVC Tokens.
1,680,000 (2%) of the EVC Tokens are reserved for a Social and Bug Bounties account. Allocated EVC Tokens will be used for translations, marketing, business bounties on a social level, bug bounties for the EventChain token sale contract and other incentives to reinforce honest conduct on the EventChain platform on an ongoing basis.
6,720,000 (8%) of the EVC Tokens are reserved for an event sponsorship account. Allocated EVC Tokens will be used for accommodating and sponsoring worldwide events, hosting EventChain events and event related activities to further community involvement.
8,400,000 (10%) of the EVC Tokens are reserved for early contributors. EVC Tokens allocated to advisors and corporate partners will be vaulted under the same terms as EventChain’s EVC Tokens, with a two year vesting period and a six month cliff with a 25% release each subsequent six month period, beginning from the date that participants receive their EVC Tokens. Early contributors that receive EVC Tokens in lieu of wages will not be vaulted.
Currently there are countless number of problems and issues plaguing the centralized event ticketing industry globally. The main issues in the industry are ticket counterfeiting, ticket scalpers, instant sell-outs and overpriced resale tickets on secondary markets.
EventChain is a global Smart Ticketing blockchain project that will allow events worldwide to sell Smart Tickets through a peer-to-peer network, solving the issues of the centralized event ticketing industry. Decentralized networks can change the way almost every industry works, including the event ticketing industry.
Implementing the EventChain token network for event management presents the opportunity to upgrade the current event ticketing industry to faster transactions, indisputable ticket vouchers, transparency from event hosts and fully flexible and programmable Smart Tickets. With the use of the EventCoin token, smart contract code, and the Ethereum blockchain, EventChain’s transaction network will bring increased accountability, transparency, and security to event ticketing.
Chong Foo Chaw