Cru Coin Summary
The following is a summary of the development of cryptographic tokens (“Cru Coins”) designed to collateralize and facilitate the funding of a world tour of “Corporation”, a popular art exhibit created by Corp Cru.
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What are Cru Coins?
Cru Coins are cryptographic tokens in development. The tokens will be sold in order to facilitate funding the expenses in connection with a world tour of “Corporation“; the popular art exhibit featured in Yahoo Finance and The Daily Beast.
Cru Coins are used to collateralize the value and sale of the Corporation exhibit through self actuating smart contracts.
As the tour of the exhibit progresses and as media coverage intensifies, the popularity of Corporation will grow. As popularity grows, the value of the exhibit will rise until the exhibit is sold. When the exhibit is sold, Cru Coins will be redeemed.
The expected size of the token sale is USD $1,000,000. The proceeds of the sale will be used to fund the tour and to pay for administrative and operating expenses.
The uniqueness of the tokens lie in the smart contracts that govern the life of the tokens.
There are four main smart contract governance features planned for Cru Coins:
- Sale – Cru Coins will be sold to Non-US residents only pursuant to a license agreement between the licensee and Corp Cru, the creator of the exhibition.
- Collateralization – Cru Coins will be collateralized and will track the value of the Corporation by Corp Cru exhibit until a sale of the exhibit is completed.
- Trading – Tokens purchased on the ICO will be governed by a lock (“Lock”). 20% of the tokens purchased on the ICO will be released every two weeks. Exceptions to the Lock will be based on market conditions at the time of resale. Exceptions to the Lock will be governed by the purchase volume and frequency of additional unique purchasers of tokens after the ICO.
- Redemption – Tokens will be redeemed upon the sale of the exhibit after the tour. Proceeds of the sale of the exhibit will be deposited into escrow and will facilitate redemption of tokens.
Risks to Purchasers
There is no assurance that a sale of the exhibit will occur or that if such sale occurs, the proceeds will be greater than the aggregate initial value of all tokens initially sold.
You will be required to read AND UNDERSTAND the risks relating to the purchase of the tokens as a condition of the token purchase.