Crypto Frontline

The SocialGood Cashback System Revealed Token Allocation

The SocialGood Cashback System Revealed Token Allocation

April 04
11:26 2019

A lot of projects will be in the center of attention throughout 2019, but one particular company had managed to stay under the radar thus far, even though it comes with an innovative business model. Based in Tokyo, Japan, the Social Good Foundation Inc., in coordination with its wholly-owned subsidiary called Social Good Foundation Malta Ltd., will launch its SocialGood Cashback system this year, in an attempt to start a reshaping process of the entire commerce sector.

Why is the project interesting?

Through the SocialGood token (SG), compliant with the Ethereum ERC-20 standard, the SocialGood Cashback system will offer rewards to users purchasing products from the companies that take part in the system.

The foundation designed an allocation strategy for the issued tokens at the time of listing and set a maximum limit of 210,000,000 tokens which could be issued. In the 2019 fiscal year, the company expects to have issued 17,727,258.918 SG tokens and plans to list the cryptocurrency on multiple exchange platforms.

Token allocation strategy

Token allocation strategy

The Social Good Foundation decided to allocate 17% of the issued tokens, as of the end of 2019, to teams and partners, which represent alliance companies. It’s important to mention that tokens allocated to them will be “locked up” and will be later released evenly on a yearly basis over a period of 4 years after the token sale will end.

Another 26% of the SG tokens will be allocated to institutional investor sales and airdrop distribution.

Thirdly, the last 10,000,000 SG tokens which account for 56% of the issuance, will be used in accordance to the schedule for the 2019 token distribution, being used for cash back during the fiscal year and for the token sale.

At the end of December 2019, a maximum of 17,727,258.918 tokens will be issued, excluding the allotment to the team and partners. An estimated 14,627,258.918 tokens will be in circulation, which accounts for 83% of the issued tokens.

Between February 2019 and until the listing date which is due to being announced, SG tokens will be sold for a fee during sales carried out on cryptocurrency exchanges, with another portion of the tokens scheduled to be sold on the issuer’s website during a “presale”.

By December 2019, the Social Good Foundation will sell tokens through various exchange platforms worldwide. To summarize, cash back users receive SG tokens free of charge, and the remainder will be sold during the presale and ICO for a fee.

We can conclude that the SocialGood Cashback system comes with a balanced token allocation, trying to satisfy investors, teams, and partners or alliance companies, as well as users who will be rewarded for purchases made from companies that take part in the program. The implementation phase of the process is expected to be monitored closely by the people who believe it is a project with high potential. If it will manage to deliver, the Social Good Foundation will be a model for companies wanting to promote equality in a capitalistic world.