TimeCoin protocol is being developed by a company called TimeTicket GMBH, a subsidiary of TimeTicket Inc. It has the purpose of bridging people who want to provide services by selling their own time and people who want to purchase it.
TimeTicket allows the user to buy and sell personal time devised in a 30-minute unit. The protocol has grown notably since its launch, and, according to the official website, the number of users has now reached about 250,000.
The protocol has its own native token ticked TMCN. At the time of this writing, it’s trading at around $220, and the biggest market is the cryptocurrency exchange Bitforex. The coin was launched through an Initial Exchange Offering (IEO) on BitForex on November 11th, 2020, and had an initial price of $0.7, which means that early investors have already benefited from the massive increase in value.
TMCN was also listed on BitMart on March 24th and will be listed on Biki on April 14th.
The team is raising additional funds for development and is offering a special token sale with serious discounts over-the-counter.
The Special Token Sale of TMCN
The special token sale of TMCN will take place in two rounds, both of which offer massive discounts from the current market price.
The total circulating supply of the coin is 100,000,000 TMCN tokens, out of which 10,000,000 are now being sold over-the-counter at a discount.
The first round of the special token sale started on February 15th and will continue until April 30th, 2021. It offers a discount upwards of 90% as each token will be sold for $2 OTC. Users can purchase them with BTC, ETH, or USDT.
The second round will take place between May 1st and May 31st, 2021, and it will offer a discount of around 85% as the price for 1 TMCN token is set to 0.00009 BTC.
Both rounds of the token sale will accept purchases starting from 0.015 BTC, 500 USDT, or 0.3 ETH.
The team has already sold the 10,000,000 TMCN tokens to Shenzhen Heleyi Internet Information Consultant Co., Ltd. They will be selling it to the public under the abovementioned conditions.
Users have to fill out a purchase application if they want to participate, and they have to send the funds within 10 days of filling this out. The application will be automatically canceled if no payment is received within these 10 days. It’s important to be very careful because you may not receive the tokens if you deposit after the 11th day.
There’s also a lockup period as the tokens are unlocked in four batches to prevent excessive selling pressure. They are as follows:
The Goal of The Fundraising
As we mentioned above, the TimeTicket team is raising funds for additional developments. More specifically, the funds will be used to develop the eSportStars dApp, which was released back in October 2020 and is expected to grow faster than expected.
This is why the project requires further development and the implementation of DeFi and NFT functionalities in the TimeCoinProtocol, further adding to the development and marketing costs.
The idea is to enable fans to support creators such as eSports players, streamers, VTubers, and so forth. This will allow both the fans and creators to receive additional tokens and in-game items, art, and anime characters traded using NFTs.