1 billion PNK will be created and distributed in a fair manner using the IICO.
We’ve partnered with Consensys to provide a secure, stable and efficient KYC process.
Click below to watch a working demo of our arbitration protocol.
We’re well on our way to a working system which will be scalable, secure and fair for all.
Total token supply: 1,000,000,000 PNK
First Round of Token Sale
Subsequent Rounds and Juror Incentive Programs
Kleros Cooperative Development Reserve
Founders and early team members are unable to sell all of their token allocation until a three year period of working with Kleros has passed.
In the first token distribution event, 16% of tokens will be sold to the public. The other 50% will be sold in the future as the team reaches milestones in project development and for juror incentive programs.
Token Sale Mechanics
What's an IICO?
The Interactive Coin Offering (IICO) is a new protocol advocated by Vitalik Buterin, Jason Teutsch and Christopher Brown to make token sales more egalitarian. It lets each contributor choose an amount to bid and a “personal cap” on the total valuation.
The value of the token will be determined by the market, following a number of rounds where participants will make bids and adjust their caps. This provides certainty of participation and valuation to all parties, no matter their size.
How can I get a bonus?
Kleros has not done a token pre-sale nor sold tokens at discounted rate. However, as a way to incentivize price formation, the Interactive Coin Offering rewards participants who make their contribution early in the sale. Buyers who purchase tokens early will receive a 20% bonus. The bonus decreases smoothly down to 10% at the beginning of the withdrawal lock, and then goes to 0% by the end of the crowdsale.
Kleros will be incorporated as a French type of social enterprise, called a "cooperative company of public interest" or SCIC (sociétés coopératives d’intérêt collectif). This cooperative and community-oriented company operates under French jurisdiction and makes it possible to share the governance of the project and avoid commercial buyout by another company or a competitor.
This legal entity makes sure that the totality of funds produced in the token sale will be used for the development of the project. Founders are not legally allowed to distribute funds under the form of dividends.