PICOUNSK (Pre-ICO UNSK) - UNSK Airdrops
Updated: Aug 28, 2018
I would like to make pre-ICO UNSK, PICOUNSK, and the 100% bonus more clear.
Pre-ICO UNSK is vested for a minimum of 3 months and .04 XLM/UNSK market price (120% ICO price).
PICOUNSK is sold to represent the vested UNSK tokens and the UNSK will be airdropped according to 2 PICOUNSK holder snapshots. The actual UNSK tokens that will be delivered are currently held here.
The Unsinkable Project is using an "Unsinkable" ICO for UNSK, so no funds are available for development until HODLers make them available.
We are also using an UNSK pre-ICO, with an eventual 100% bonus if UNSK hits 200% ICO price, via PICOUNSK airdrops. PICOUNSK is not Unsinkable and does not offer any buyback. Funds invested in PICOUNSK are immediately available to Unsinkable Project devs for development. UNSK will be airdropped to PICOUNSK holders according to 2 snapshots, at dates/times to be determined. The airdrops will occur when the UNSK pre-ICO vestment unlock requirements are met:
50% minimum 3 months after ICO end - requires .0666666 XLM/UNSK market price (200% ICO price)
50% 6 months after ICO end - requires .04 XLM/UNSK market price (120% ICO price)
PICOUNSK "snapshot 1" holders will receive a 1:1 UNSK airdrop when XLM/UNSK price hits 200% ICO price, minimum 3 months after UNSK ICO end. PICOUNSK "snapshot 2" holders will receive a 1:1 UNSK airdrop 6 months after UNSK ICO end if UNSK price is over 120% ICO price, sooner if UNSK hits 400% ICO price within 6 months of ICO end.
PICOUNSK snapshot times for the UNSK airdrops will be announced at least 1 week in advance. The community will be polled about desired snapshot times. Actual snapshot times may be decided via a vote by UNSK and/or PICOUNSK HODLers. Possible times for snapshots are:
end of PICOUNSK ICO
when the airdrop methodology is tested and ready
end of UNSK ICO
prior to exchange listings
immediately upon 2x and/or 4x XLM/UNSK ICO price reached
immediately upon 3 month and/or 6 month minimum time expiration
Sufficient company UNSK will be sold below 200% ICO price, with profits (sell price - ICO price) deposited into the buyback fund to bolster the Unsinkable buyback offering, allowing UNSK to remain "Unsinkable" after pre-ICO token unlocks.
Pre-ICO Vestment Unlocks (PICOUNSK-UNSK Airdrops) Best/Worst Case Scenarios
Best Case - UNSK hits 200% ICO price within 3 months, airdrops occur 3 months and 6 months after ICO end.
Successful Case - UNSK hits 200% ICO price within 1 year after ICO end and the second airdrop unlocks. 6 months after ICO end XLM/UNSK market price was above 150% ICO price and the first airdrop occurred. This airdrop will occur 6 months after ICO end as long as UNSK market price is above 120% ICO price - .04 XLM/UNSK
Problematic Case - UNSK reaches 200% ICO price around 6 months after ICO and both airdrops must be covered simultaneously. Significant company UNSK will have to be sold onto the market to cover buybacks.
Worst Case - UNSK ICO does not reach softcap and/or UNSK market price never reaches .04 XLM/UNSK. Pre-ICO investors have received no UNSK airdrops and their funds were spent on development - PICOUNSK buyback funds are unavailable.
Plausible Scenario - UNSK has stayed within 120-150% ICO price for a year after ICO. PICOUNSK investors have not yet received their 100% bonus UNSK. PICOUNSK investors received their first airdrop, and can redeem their UNSK for an XLM investment back refund if they lose faith in the project even if the price crashes back down to ICO price.
I think team vested UNSK should have more stringent unlock requirements than PICOUNSK unlocks so in addition to the 1 year unlock vestment, half the team allocated UNSK will require 150% XLM/UNSK ICO price (.05 XLM/UNSK) and the other half 201% XLM/UNSK ICO price (.07 XLM/UNSK).