Today, 55.com announces the second Asset Token Onboarding (ATO) to launch on the 55.com, Air Jordan.
An ATO is a new generation of utility token sale launched by 55.com. Our ATO process embraces the advantages of information disclosures intended for consumer protection typically associated with public offerings in traditional financial markets. At the same time, we are focused on providing the advantages of rapid issuance in blockchain-based projects.
Projects will be deemed sustainable and be listed on 55.com if the total number of tokens ordered during the ATO exceeds the available tokens by 2.5 times or more, with such available supply being its projected 3-month circulation amount during the post ATO period. This number is known as the “oversubscription amount”. If the oversubscription amount is not met, the project is deemed a failure and all funds are refunded back to participants.
More details are available here.
I.Launch Air Jordan token sale via 55.com ATO platform
1. The first issuance of the Air Jordan token (AJ) is a collectible-backed token supported by Air Jordan’s Jordan 1 Retro High Travis Scott sneakers. The total supply is 35,000 AJ and the initial ATO price is 1 AJ = 0.1 USDT (fixed).
2. The redemption of each pair of Jordan 1 Retro High Travis Scottsneakers requires a fixed amount of 1,750 AJ.
3. AJ Information
a. Name of Token: Air Jordan
b. Ticker: AJ
c. Total Supply of Tokens: 35,000
d. ATO Supply: 100%
e. ATO Price: 1 AJ = 0.1 USDT (Fixed)
f. Funding Currency: USDT
g. Allocation & Lockup: No Lockup Period
II. AJ Subscription Guidance
Start Date: July 4, 2019; 12:00pm (UTC+8)
1. Participation Rules: The total supply is 35,000 AJ with two sale phases: In Phase 1, tokens will be subscribed on a first-come, first serve basis. In Phase 2, tokens will be subscribed on a proportional basis. Each eligible 55.com user account is permitted to participate in both Phases of the ATO.
a. Phase 1: A maximum of 7,000 AJ will be allocated on a first-come, first served basis from 12:00pm to 12:15pm (UTC+8). The individual cap is 1,000 AJ.
b. Phase 2: A total of 28,000 AJ will be sold under the proportional allocation rules during 12:15pm to 1:15pm (UTC+8). In the proportional allocation (Phase 2) of the ATO, the higher the amount of participation, the higher the number of tokens received.Based on this model, there is no individual cap in Phase 2.
-The "Total Proportional Presold Supply" is the sum of presale tokens in proportional participation (Phase 2)
-The "Individual Purchase" is the number of tokens that a single participant requests to purchase during Phase 2.
-The “Token Participation Ratio” = Total Proportional Presold Supply / Total Quantity Oversold in Phase 2
-The “Individual Tokens Received” = Token Participation Ratio * Individual Purchase
Formula: Individual Tokens Received = (Total Proportional Presold Supply / Total Quantity Oversold) * Individual Purchase
2. Participation Criteria:
a. Sign up for an account on 55.com(Login)
b. Finish KYC verification（KYC）
c. Deposit USDT in your 55.com account(How do I recharge my account?)
3. Token Allocation and the Release of Funds
a. If the ATO meets or exceeds the 2.5 oversubscription measure, the participant will receive tokens based on the terms of the token subscription guidelines. Participant funds that unsuccessfully participated or were part of the oversold tokens will be immediately unlocked after ATO results are published.
b. If the ATO fails to reach or exceed the 2.5x token oversubscription, all funds for each ATO participant will be immediately unlocked and returned.
III. Trade Instructions
If the AJ token sale fulfills the 2.5x oversubscription measure, 55.com will open AJ/USDT transactions on 55.com at 7:00 pm; July 4, 2019 (UTC+8).
Thank you for your time. We look forward to trading with you.
June 30th, 2019
We do not manufacture or control any of the products or services offered on our Site. The availability of products or services through our Site does not indicate an affiliation with or endorsement of any product, service or manufacturer. Accordingly, we do not provide any warranties with respect to the products or services offered on our Site. However, the products and services offered on our Site are covered by the manufacturer's warranty as detailed in the product's description on our Site and included with the product. To obtain warranty service for defective products, please follow the instructions included in the manufacturer's warranty.
ALL PRODUCTS AND SERVICES OFFERED ON THIS SITE ARE PROVIDED “AS IS” WITHOUT ANY WARRANTY WHATSOEVER, INCLUDING, WITHOUT LIMITATION, ANY (A) WARRANTY OF MERCHANTABILITY; (B) WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE; OR (C) WARRANTY AGAINST INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS OF A THIRD PARTY; WHETHER EXPRESS OR IMPLIED BY LAW, COURSE OF DEALING, COURSE OF PERFORMANCE, USAGE OF TRADE, OR OTHERWISE.
SOME JURISDICTIONS LIMIT OR DO NOT ALLOW THE DISCLAIMER OF IMPLIED OR OTHER WARRANTIES SO THE ABOVE DISCLAIMER MAY NOT APPLY TO YOU.
YOU AFFIRM THAT WE SHALL NOT BE LIABLE, UNDER ANY CIRCUMSTANCES, FOR ANY BREACH OF WARRANTY CLAIMS OR FOR ANY DAMAGES ARISING OUT OF THE MANUFACTURER'S FAILURE TO HONOR ITS WARRANTY OBLIGATIONS TO YOU.
55.com ATO transactions are only available to users from regions and jurisdictions where such participation is permitted.
Due to factors such as regional policies and regulations, markets, technology, force majeure or other circumstances, the Token price may fluctuate drastically. All payments are irrevocable and non-refundable
Under no circumstances, shall 55, its officers, employees, agents or anyone else involved in creating, producing or distributing the service be liable for any direct, indirect, incidental, special or consequential damages that result from the use or the inability to use the Service; or that results from mistakes, omissions, interruptions, deletion of files, errors, defects, delays in operation, or transmission or any failure of performance, whether or not limited to acts of God, communication failure, theft, destruction or unauthorized access to our records, programs or services. 55 will not be responsible for any damages your business may suffer to the extent permissible by law. We make no warranties of any kind, express, implied, statutory or otherwise for any Service we provide.
The Token is a high-risk sale project. Please reasonably assess your own risk tolerance and transact rationally. 55.com does not assume guarantees or liability. No governmental or self-regulatory authority will pass on the merits of the AJ tokens or the adequacy of the information contained herein. Any representation to the contrary is unlawful. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by 55, Nike, Air Jordan, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Risk of withdrawal: Due to the underlying technology of Token or the 55.com trading platform, the Token you purchased may not be fully or partially cashed out.
The Total ATO Tokens Available (35,000 AJ) is subject to reduction by the referral program. In this express scenario, 55.com will acquire the tokens on behalf of its qualified referral program beneficiaries and distribute the tokens in accordance with the rules, conditions, and qualifications of the referral program. 55.com will not, under any circumstance, keep any AJ tokens as a Company.