- Why is SocialGood Able to Improve Society?
- Why Will SocialGood Continue to Grow in Popularity Globally?
- SG’s Patented Asset Value Rising Mechanism
- Coin Issuance Plan
- History & Achievements
4. Coin Issuance Plan
(1) Overview the Cryptoasset (Coin)
Name of the Cryptoasset (Coin): SocialGood Abbreviation: SG
Ticker Symbol: SG
Type: Utility Token
No. of issued coins at the time of listing: Maximum of 1,750,000 coins
Planned Sales Price: 1 SG = US$0.10
Standard: Ethereum ERC-20 Token Standard
Issuance Limit: 210,000,000 coins
Token Issuing Entity: Social Good Foundation International Inc.
Operating Company: Both the business entity, Social Good Foundation Inc., and the coin issuing entity, Social Good Foundation International Inc., are collectively referred to as the “operating company.”
(2) Allocation Plan of Issued Coins at the Time of Listing
The maximum amount of SG coins to be issued immediately at the time of listing is 1,750,000 coins. When the market cap is calculated using the IEO market price of 1 SG = US$0.10, then the market cap will be at most an equivalent of US$175,000.
After the coin sale, taking into consideration the supply and demand of coins, new issuances will not be performed unless there are special circumstances.
Allocation Plan of Coins Issued
At the time of listing, we plan to issue a maximum of 1,750,000 coins.
A breakdown of the issued coins, when we plan to have been listed on multiple cryptocurrency exchanges, will be as follows:
First of all, for the “coin sale,” we will allocate a maximum of 500,000 coins. Up until the listing date, SG will be sold for a fee on cryptocurrency exchanges in a sale (hereinafter referred to as an Initial Exchange Offering, or “IEO”). For details about each of the sales’ conditions, etc., please refer to the “Terms and Conditions” of each sale.
Next, for our “Airdrop,” we will allocate 750,000 coins. The Airdrop has already been completed, and a maximum of 90,000 people will own the token. Until the token price becomes 1 SG = US$10, these 750,000 coins cannot be sold. Therefore, users who get SG through the Airdrop have an incentive to promote the Social Good Project voluntarily so that the token price will become 1 SG = US$10.
UPDATE: In light of how the system is intended to work, "reaching US$10" is defined as the time at which the price exceeds US$10 for 30 consecutive business days or more. The airdrop from 2019 and before will not be distributed if the value exceeds US$10 only for a moment (December 7, 2020).
After that, there will be 200,000 coins issued stored by the operating company as a “Shopping Mining Pool” to provide coins for participants of Shopping Mining™. Concretely, when users shop at famous retail stores via the SocialGood Cashback service, these coins will be used to grant coins free of charge in accordance to the amount they purchased.
Finally, 300,000 coins will be allocated to business partners. This too can only be sold after the price of the token reaches 1 SG = US$10. Therefore, partners have the incentive to work together for the success of the Social Good Project.
Regarding the IEO and the pre-sale held before 2019, they were canceled. All participants were refunded and we have already collected the token ( https://socialgood-foundation.com/news/20190305.php ). Therefore, until the SG price becomes 1 SG=US$10, and for the time being, only about 500,000 tokens distributed in Bitmart's IEO will be in circulation in the market.
(3) Regarding the App and Shopping Mining™
In September of 2020, we will release the “app where you can receive SG for free just by shopping on major online shops.” The exchange value of the SG that users receive for free when they shop is guaranteed by the operating company. In other words, it is fine for the user to sell the SG they receive on the market if the SG price rises and if the SG price falls, they may request the operating company to buy it back. As a result, anyone who gets SG can make a financial profit. It should be noted that we plan to introduce a system in which the more SG you obtain and the longer you hold onto the SG you receive for free, the more SG you will receive the next time you go shopping, which makes it advantageous to hold onto your SG for a long period of time. For details, please check the white paper.
(4) Coin Issuance Limit
Theoretically, the upper limit of coins which can be issued is 210,000,000 coins. In the cases below, there is a possibility that new coins may be issued, however, in order to maintain SG’s asset value and from the viewpoint of reducing coin supply as much as possible, we do not plan to issue any more at this time.
- To expand the Social Good Ecosystem™ and in the case that newly issued SG is required in order to provide it for Shopping Mining™ (when SG in the market has been depleted)
- To provide a reward to the team for achieving a certain market cap of the coin
- To provide incentives to partners (retail stores etc.) that contribute to the ecosystem
- For other reasons, such as when SG is needed to cover expenses for maintaining the asset value of SG
(5) Approximations for the Coin’s Market Cap Improving
Immediately after SG is listed, the maximum amount of issued coins will be 1,750,000 coins. When the market value is calculated using the rate of 1 SG = US$0.10, the maximum market cap would be US$175,000. However, given the current market conditions, the SG coin market cap at the time of listing could reasonably be estimated to be more than US$1 billion. Please refer to the white paper for details of such estimates.
Also, for your reference, please see the following article:
Founder & CEO, Soichiro Takaoka, Soichiro Takaoka Reveals the Merits of Purchasing the SocialGood Cryptoasset and the Impact it has on Society (article in Japanese Only)
*We believe that SG’s price will increase as the number of SG holders increase, but ultimately, SG’s price will largely be affected by the entire cryptocurrency market.
*SG’s price will fluctuate due to the impact of supply and demand, but this is the same as with real estate and gold. In the same way that real estate and gold are not a security, neither is SG a security.
Note2: Notice of Change in Token Address to Airdrop Participants (July 28th, 2020)
In accordance with the SG listing, the following change to the token contract was made to adjust the circulation value to a size that matches the market environment:
Old contract: 0x9ede87077078aee6eaaa96cbee47726a85c7c161
New contract: 0xddf7fd345d54ff4b40079579d4c4670415dbfd0a
The tokens of everyone who participated in the Airdrop and Ambassador program were calculated at the rate of 1SG=US$10, just as we had done before, and it was designed in a way so that when the rate becomes 1SG=US$10, it can be moved to an exchange or sold.Therefore, the number of tokens distributed will not change.
We plan to distribute the new token within August after the below mentioned registration submission date.
If you have not registered the address at which you can receive tokens to be distributed by the Airdrop/Ambassador program, please register by midnight, 0:00 JST, on Friday, August 7th.
If you do not register by then, we assume that you have waived your right to receive it.
For all distributions, including those who have already received tokens from the old SG contract, we will be checking the registered data again and after ensuring that there has not been any misconduct, we will proceed with the distribution.
Please note that the Ambassador Program, which was already implemented on the official website, and the Airdrop that was already implemented for SocialGood Cashback, have ended.
Please also understand that although we will start the token distribution immediately, some users may receive it later than the end of August, depending on the network environment and other factors.