X Coin Machines (XCM) are gift certificate tokens, issued by TigoCTM. The tokens use an ERC20 standard contract for deployment on the Ethereum blockchain. The contract extends Open Zeppelin BurnableToken.
Each XCM will have a redemption value of $10 (1.025-2x it's cost), when spent on TigoCTM products or services. TigoCTM will use the funds raised to develop and manufacture cryptography optimized machines, with built in hardware security modules. Machines will feature guldOS, the OS with built in blockchain, p2p file sharing and more. It is fair to say that XCM tokens are backed by hardware, though the hardware is produced after the corresponding token creation event.
The lifecycle of an XCM token is creation -> circulate -> redeem -> burn. It is expected that 100% of the XCM will eventually be burned, so the supply will trend toward 0 (zero) over time. No explicit expiration date will be enforced, but users are warned that TigoCTM will not take inevitable US Dollar inflation into account, and therefore, the $10 face value will have less purchasing power in years to come.
TigoCTM will do creation of all tokens on Nov. 1, but will not distribute them until Jan. 1 2018. This is to ensure that no XCM are burned before the ICO ends. Any ICO tokens which are not purchased will be burned on Jan. 1, instead of being transferred.
After Jan. 1, XCM tokens circulate using generic transfer functionality, which is supported by every major Ethereum wallet. This makes XCM easier and more fungible, since no hosted wallet is required, and enterprise users like exchanges do not need to implement any special functions.
The redeem step is simple: purchase an item from the https://tigoctm.com store, choosing XCM as the payment option (not available until ICO completion), then send your XCM to the address given.
Upon receiving payment in XCM, TigoCTM will process your order, and burn the tokens. This permanently removes them from circulation, proportionally reducing the XCM supply. While, technically, users can burn their own XCM, TigoCTM will not provide a user interface for accomplishing this. Any such user-burned XCM will still be redeemable, by contacting TigoCTM support with cryptographically signed proof of ownership of the burning address.
Initially, 15,350,000 XCM will be created. Any of these which are not sold by Jan. 1 2018 will be immediately burned. The rest will circulate until a user redeems them for $10/XCM worth of TigoCTM products or services. The ICO will follow a scaled distribution model, starting at $5/XCM, and increasing to $9.75.
| Tranche | Cost | Supply | Revenue |
|---|---|---|---|
| 1 | $5 | 100,000 | $500,000 |
| 2 | $6 | 250,000 | $1,500,000 |
| 3 | $7 | 500,000 | $3,500,000 |
| 4 | $7.5 | 750,000 | $5,625,000 |
| 5 | $8 | 1,000,000 | $8,000,000 |
| 6 | $8.5 | 1,250,000 | $10,625,000 |
| 7 | $9 | 1,500,000 | $13,500,000 |
| 8 | $9.25 | 2,000,000 | $18,500,000 |
| 9 | $9.5 | 3,000,000 | $28,500,000 |
| 10 | $9.75 | 5,000,000 | $48,750,000 |
| total | $9.06 (mean) | 15,350,000 | $139,000,000 |
As more ICO funding targets are achieved, TigoCTM will be able to manufacture more and more complex machines. In this way, ICO participants may guarantee the future availability of those same products. In electronics, miniturization increases complexity, so the highest target unlocks the smallest machine (a smart phone). While it may seem counter-intuitive, a secure, linux-based smart phone will definitely require tens of millions of US dollars in funding beyond what a desktop device would require.
MSRP: $3000
ETA: 6 mos.
specs: TBD
guaranteed upon filling tranche: 1
MSRP: $12500
ETA: 9 mos.
specs: TBD
guaranteed upon filling tranche: 3
MSRP: TBD
ETA: 12 mos.
specs: TBD
guaranteed upon filling tranche: 5
MSRP: $800
ETA: 15 mos.
specs: TBD
guaranteed upon filling tranche: 7
MSRP: $10000
ETA: 18 mos.
specs: TBD
guaranteed upon filling tranche: 9
MSRP: $1000
ETA: 21 mos.
specs: TBD
guaranteed upon filling tranche: 10