YouToken is a blockchain-based crowdfunding platform that converts human intelligence into a financial asset (token). We help investors and entrepreneurs establish connection via crypto tokens.
Entrepreneurs can “sell themselves” and their ideas on YouToken while investors can buy “human intelligence” on our marketplace.
As a result, talented entrepreneurs can quickly get financial support for their project, and investors get the opportunity to invest in another “Steve Jobs” or “Elon Musk” at their early stage of success.
The platform introduces users to a new financial asset – “Human Intelligence”. The platform allows any user to “sell themselves” in a form of a personal token (YTN_creatorname) in exchange for receiving financial support.
OUR MISSION
We make entrepreneurship accessible to everyone, everywhere and trustable once again for investors.
OUR GOAL
Our main goal is to disrupt the crowdfunding industry using the opportunities of blockchain technology and the FinTech industry (online trading/investments). We simplify the investing process and capitalize on entrepreneurs who are at the early stage of their success.
TERMS
The YouToken platform is designed to connect two types of users:
• Entrepreneurs
• Investors
There are three project stages:
• Crowdsale – raising funds for the project
• Production – funds are raised and the entrepreneur starts developing their project
• Existence – the project is developed and business processes are launched.
Vault is a programmatic storage that stores funds for the “Production” stage of a project.
CUSTOMER JOURNEY
Step 1. Sign Up
Every entrepreneur who wants to “get tokenized” can sign up on the YouToken platform using “Social Signup” or via email & password.
Once sign up is complete, YouToken receives the user's email, password and access token.
Step 1. Profile Setup
After the first sign up, the entrepreneur needs to provide us with the following information:
• Full Name
• Gender
• Date of Birth
• Creator name (will be used for naming YTN_creatorname tokens). The creator name cannot be changed after the smart contracts for the first projects is issued.
• Country/City
• Profile photo
• "About me" description (needed for the entrepreneur's personal page)
• List of entrepreneurs profiles on their social networks
Step 2. Idea/Project Upload
Once registered, the creator can feature their idea(s)/project(s) on the YouToken Marketplace.
The YouToken platform is designed to help and engage entrepreneurs in a quick and effective manner. A creator can immediately start his/her crowdsale program or first consult the YouToken Community advisors to verify his/her idea.
Step 3. Entrepreneur/Project Verification
To get verified, each user must submit a copy of his/her government-issued ID and proof of Ethereum address.
To begin the crowdsale, each user needs to send us the amount of ETH required for issuing his/her smart contracts (we will use these funds for fees).
This is a one time verification only.
Step 4. Smart Contract Issuing
Now that the verification process is complete and the creator submitted his/her idea on the YouToken Marketplace,
We as a YouToken platform issue the following:
• Crowdsale Smart Contract for the project (Donation, Debt, Rev.Share, Equity)
• YTN_creatorname (ERC-20 standard based) tokens
Step 5. Crowdsale
Investors who wish to support an entrepreneur’s creative idea/project have the opportunity to purchase their creator tokens (YTN_creatorname).
Investors use the simple form to buy an entrepreneur's token. During the payment process, investors need to provide YouToken with the following information:
• Contact Email (classic or social signup) – For project notifications and updates regarding the success/failure of a crowdsale.
• Name (optional) – For use in comments
Investors can purchase tokens using:
• Ethereum address
• Metamask
• Fiat Money
• Any other coins (using BestRate cryptocurrency converter)
After purchasing YTN_creatorname tokens, the investor's money is sent to Vault.
If the crowdsale wasn't successful, all the money from Vault is returned to the investors.
Step 5. Idea/project gets funded
Once the funds are raised through the crowdsale, the “Production” stage of the project is launched. From this point, all received funds are stored in “Vault” and do not go directly to the entrepreneur.
After successful completion of the crowdsale, the entrepreneur receives funds for the first step in the contract.
The smart contract dictates the terms for the project’s development. Each project can have a minimum of one step in it’s smart contract. Each step in the process comes with the following questions:
• What will the creator do?
• When will the creator complete it?
• How much money does the creator need to do it?
After reaching the goal of each step, the entrepreneur sends a request to close that part of the contract and move on to the next stage and receive further financing.
Now, voting of the investors (holders of YTN_creatorname) takes place. Here, they decide whether or not the step was completed and if it’s time to move on with funding the next step of the project. If they vote”yes”, then the entrepreneur automatically receives the next portion of funds from Vault.
If they vote “no,” the remaining, unused funds from Vault are returned to investors.
Step 6. Project launched
Project Revenue / Profits
After all steps of the “Production” stage are complete, a new stage entitled “Existence” begins.
Depending on the type of smart contract, the project may or may not have a Bucket to store funds earned along the way.
For the Revenue Share, Equity and Debt smart contracts, the entrepreneur must deduct a specified amount of money into the contract’s “bucket”. Once the business begins to profit, the funds from the bucket will be distributed amongst YTN_creatorname holders.
The accrual of “Revenue Share” and “Debt” contracts is extracted from the bucket at the following intervals:
• Monthly, quarterly, annually for Revenue Share and Equity contracts.
• One time at an agreed upon date for the Debt contract.
Internal Exchange
At this stage of the project, YTN_creatorname tokens can be bought/sold on the YouToken Internal Exchange. Each YTN_creatorname holder can put an order with the following data:
• Order type (bid/ask)
• Amount
• Price
After the certain amount of order is placed in the exchange, the exchange engine starts to execute orders with the same (or close to the same) prices depending on the order mode (fixed or market price).
An entrepreneur also can trade his/her personal tokens in the Internal Exchange. (E.g. if he/she needs additional funds.)
External Exchanges
As an entrepreneur succeeds, his/her YTN_creatorname value increases and if an entrepreneurs’ project/idea reaches a certain level of success, then their YTN_creatorname token can become available for buying/selling/trading on external exchanges. This brings benefits to both the entrepreneur and the investor in a similar way to stocks on the stock market.
TOKENS: YTN vs YTN_creatorname
At YouToken, crypto holders can benefit from being exposed to the price representing the entire platform (YTN token) and the price of various creator tokens (e.g. YTN_elonjobs, YTN_stevegates, YTN_lamarronaldo, etc.). Both YTN and YTN_creatorname tokens are Ethereum, ERC-20 standard compatible and are considered a “utility token.” Utility tokens are designed to enable fluid interaction between entrepreneurs, investors and the YouToken platform.
YTN and YTN_creatorname linked to success rate of entrepreneurs registered on the marketplace,
The Two Types of Tokens:
• YTN – these are the general tokens that represent the platform as a whole.
• YTN_creatorname – these are personal tokens issued to each entrepreneurs once he/she starts their first project.
The total value of the YouToken platform is represented by YTN tokens.
TOKEN DISTRIBUTION
35% of the tokens will be offered for the crowdsale purposes: This number of tokens will be distributed among our supporters.
This is needed for the fundraising purposes and the purposes of the community engagement.
25% of the tokens will be issued to the company: This number of tokens will be frozen for a period of 6 months after the platform is launched (we will freeze this number of tokens for the purposes of keeping YTN price stable and minimize the risks of the token devaluation).
This will ensure the stable development of the Project and will help us reserve tokens for further risk mitigation purposes.
15% of the tokens will be issued to the founders and managers of YouToken: Our team of industry experts is working hard to make YouToken the number 1 blockchain crowdfunding platform. This number of tokens will be frozen for a period of 6 months after the platform is launched (we will freeze this number of tokens for the purposes of keeping YTN price stable and minimize the risks of the token devaluation).
This will help us keep the team motivated and ensure the team’s further return on investment.
10% of the tokens will be issued to our advisors: To keep YouToken ahead of its competitors, we want to be surrounded by a strong team of advisors. This number of tokens will be frozen for a period of 3 months after the platform is launched (we will freeze this number of tokens for the purposes of keeping YTN price stable and minimize the risks of the token devaluation).
This will keep the deep involvement of the advisory board in the business processes of YouToken. Initially, it will help YouToken stay competitive.
10% of the tokens will be issued to the community advisors whose main focus will be helping the entrepreneurs to succeed. Every YouToken user will be able to benefit from this by helping entrepreneurs registered on the YouToken marketplace with a valuable advice.
This group of individuals will be working closely with the registered entrepreneurs by helping them develop and improve their unique ideas. This part of the token distribution is needed to help entrepreneurs minimize risks of failure.
5% of the tokens will be allocated to the community growth.
These tokens are needed for the bounty programs and referral activities. By benefiting the most active and engaged users, we will be able to grow faster as a brand.
ROADMAP
TEAM
ADVISORS
For more information, please visit:
Website: http://youtoken.io/
Presentation: https://ico.youtoken.io/presentation
Whitepaper: https://docs.google.com/document/d/10Iv7mzsdONh53gIRpki59t3E7s0neaDNkWNRWVs09NM/edit
Telegram: https://t.me/youtoken
Facebook: https://www.facebook.com/YouToken.io/
Twitter: https://twitter.com/YouToken_io
Reddit: https://www.reddit.com/r/youtoken/
Author: Crator Touch
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1612381