The Grantcoin Foundation has released a revised version of the Grantcoin sales plan (.xlsx spreadsheet) with a detailed breakdown of planned sales on three exchanges and 13 currency trading pairs. Phase One of the plan calls for 200 million GRT, or 2% of the total Grantcoin currency reserve, to be sold on exchanges to raise a goal of $110,000. This funding will enable the Foundation to pay for important expenses for software development, marketing, and professional management of the project in its crucial first year.
Starting on May 15, Grantcoin will be listed for trading on Bittrex, a major U.S.-based Bitcoin/altcoin exchange. On the same day, a GRT/BTC market will also open on SouthXchange, a new exchange based in Argentina, which offers a user interface in both Spanish and English.
The Grantcoin Foundation also plans to open over a dozen markets on Ripple Trade in the near future. Ripple enables direct trading between cryptocurrencies and fiat currencies such as the U.S. Dollar, the Euro, and more. We have been consulting with Ripple Labs staff and other developers with expert knowledge of the Ripple platform to prepare for launch of our Ripple markets according to the highest standards of security and best practices. We expect to open these markets by the end of May.
“As we have transparently disclosed in the Grantcoin reserve distribution plan, the overwhelming majority of Grantcoin tokens will be given away as charitable grants, not sold,” said Eric Stetson, Executive Director of the Grantcoin Foundation. “But like many nonprofit organizations that need to sell assets to raise funding for their operations so that they can achieve their charitable mission, the Grantcoin Foundation will sell a small percentage of the Grantcoin digital assets we hold.”
Grantcoin is not an equity or security, and holders of Grantcoin do not receive any dividends or voting rights in the Grantcoin organization from their ownership of the token. The Grantcoin Foundation does not promote Grantcoin as a speculative investment. The Foundation invites all potential buyers to study the extensive documentation that has been published about Grantcoin on our website, grantcoin.org, and to read our legal disclaimer before purchasing or using Grantcoin tokens or software.