REPU ICO FAQ

Smart reputation managment on blockchain

General questions

1What is ICO and pre-ICO?
ICO, or Initial Coin Offering is a mechanism for raising funds, under the terms of which future crypto currency is sold for liquid virtual money. You pay with bitcoin or ether in ICO, and in return receive tokens of the new project. This is another realization of the crowdfunding model. The participants finance the company's development now in order to obtain from it some benefit in the future. Pre-ICO - stage before ICO (main stage), fundraising for the project. Pre-ICO is conducted to test and verify the demand for the project, get support from the community and expand the budget for marketing before the main ICO. Not all projects carry out pre-ICO.
2What is blockchain?
Blockchain is a distributed database that doesn’t have storage devices connected to a shared server. This database stores an ever-growing list of ordered records, called blocks. Each block contains a timestamp and a link to the previous block.
3What is smart-contract?
This is a program code that allows you to automatically perform certain functions when certain conditions occur. To implement smart-contracts, a decentralized environment is required that completely excludes the human factor. To use the transfer of value in a smart-contract, it requires a cryptocurrency.
4What is cryptocurrency?
These are monetary units (also known as "coins" or "tokens") protected by cryptographic technology. There is no physical analogue to these monetary units, they exist only in virtual space. Tokens are protected from forgery, because they represent encrypted information that can not be copied (the use of cryptography defined the prefix "crypto" in the title).

Legal questions

1Jurisdiction of transactions within the company.
Registration of REPU and REPU ICO is in Singapore. We closely follow the legislative regulation of ICO in the world and our task is to make ICO on our platform in legal way
2What is the impact of the decision by the SEC and Singapore to qualify the ICO as a valuable papers with appropriate regulation?
The question isn’t quite right, since the SEC decision about "The DAO" from 25/07/17 and the clarification of MAS on the issue of ICO regulation from 01/08/17 don’t qualify all ICOs as a valuable papers. Both documents explain that a token can be qualified as a valuable paper if the issue and sale of crypto tokens occurs in exchange for promises of a share in the company and/or the receipt of dividends and/or other such obligation. According to the explanations of MAS from 01/08/17 "The types of digital tokens offered in Singapore and other countries vary widely. Some offers of tokens may fall under the regulation of the Securities and Futures Act (SFA), while others may not fall. " These clarifications by the SEC and MAS don’t affect the development strategy of our crowdfunding project, as we initially assumed that the release and sale of crypto tokens in exchange for promises of a share in the company or dividends in many countries falls under the regulation of securities legislation and will have to be registered by the relevant way. The decisions of the SEC and MAS only confirm our vision.
3How is the collected cryptocurrency regulated by the tax authorities?
In all countries in different ways. It can be a means of payment, a digital asset, a foreign currency, and even a service. Therefore, you should decide in advance independently in which jurisdiction you want to incorporate. And after that to study relations of tax authorities and cryptocurrencies already in this country.

REPU ICO related questions

1Which wallet should I use to purchase REPU?
REPU is an Ethereum-based ERC20 token. Token holders can easily store and manage their REPU using existing Ethereum clients, including the official Ethereum wallet, Mist, MyEtherWallet.com.
2Can I participate in REPU ICO without creating an Ethereum address?
No, since the REPU tokens are released on the Ethereum blockchain, you will need an Ethereum address to get and store REPU. You can use the following Ethereum wallets: Ethereum wallet, Mist, MyEtherWallet.com or other wallets in which you have access to your private keys. Don’t send the Ethereum to participate in ICO from the accounts of exchanges !!! You don’t have access to your private keys on accounts of crypto-exchanges, so you won’t have access to REPU!
3What is the legal structure of the REPU project?
REPU is incorporated in Singapore. The REPU team is international, our team members and advisers are located all over the world. The head office is currently located in Lviv, Ukraine.
4Why are you starting with a pre-ICO?
The purpose of our pre-ICO round is to ascertain community interest regarding our platform and obtain pre-seed funds for our aggressive marketing strategy plan. This will allow us to avoid traditional venture capital funding, and still obtain the some leverage before launching our full-blown ICO.
5What exchanges are going to list REPU tokens?
At present, we are unable to post a guaranteed list of all exchanges we will work with, as multiple contacts are in progress right now. REPU will appear on several exchanges within two weeks after the end of crowd sale. The exact amount of exchanges we are going to be listed on is yet to be defined.
6What is going to happen in case you are not able to collect the estimated funds?
We will continue developing the REPU platform with any collected ICO proceeds, following our tentative roadmap of operational development. We already have a sufficient number of preliminary agreements with supporters involved, which allow us to count on the worthy results of this crowdsale.
7I am a US citizen. Can I participate in the ICO?
Unfortunately, US citizens and residents are not allowed to participate in the ICO due to US Security Law restrictions. We wholeheartedly respect all country laws in all locations we operate, and urge you to obtain more information regarding specific financial laws in your jurisdiction. You can participate in the ICO if you are neither a U.S. citizen or permanent resident of the United States, nor have a primary residence or domicile in the United States, including Puerto Rico, the U.S. Virgin Islands, and any other territories of the United States.
8Is there a minimum investment stake?
Yes, our minimum investment stake depending of the round and is set at: - 1 ETH at Closed Round - 0.1 ETH at Pre-ICO - 0.03 ETH at ICO

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Roadmap

  • 2016 year 4-th Quarter

    Reputation management and social networks – global market analysis. Development of the primary idea of the platform.
  • 2017 year 1-st Quarter

    • Team building
    • Development of the project concept
    • Development of prototypes
    • Initial financing
  • 2017 year 2-nd Quarter

    • Studying blockchain in terms of platform integration perspective
    • Risk analysis, associated with blockchain
    • The start of the platform development
  • 2017 year 3-rd Quarter

    • Platform integration with blockchain
    • Closed alpha testing of the platform
    • ICO market analysis
  • 2017 year 4-th Quarter

    • Whitepaper Development
    • Smart Contract Development
  • 2017 year November 24 – December 1

    • Pre-ICO stage
  • 2018 year January 12 – February 12

    • ICO stage
  • 2018 year 2-nd Quarter

    • Closed beta testing of the platform among ICO participants
  • 2018 year 2-3 Quarter

    • Public testing of the beta version of the platform
  • 2018 year 3-4 Quarter

    • Platform release

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