What Is ATO？
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 block chain-based projects.
How to Protect Users via ATO?
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 was deemed a failure and all funds are refunded back to participants.
- First-come, First-serve Participation
- Proportional Participation
- Internal Review and Token Allocation
- Transaction, Deposit & Withdrawal Available
Step One: Participation Criteria
Step Two：ATO Presale Guidelines
- In an ATO, the total amount of tokens available during the token sale is divided into two phases, respectively: Phase 1, the first-come, first-serve participation and Phase 2, the proportional participation.
- The total quantity of token sale, the quantity of each phase, the starting time of participation, price of participation, accepted fiat or digital currency of participation, the quota of participation per account are predetermined in advance of the beginning of the scheduled ATO.
- The first phase of the ATO token allocation is on a first-come, first-serve basis until all tokens are presold. The total time of this phase will occur over a fixed period. Phase 1 has individual upper cap predetermined in advance of ATO start. The participation of the pro-rata portion (Phase 2) will commence immediately following the first-come, first-serve participation phase (Phase 1), and will have a fixed duration to complete the presale of the remaining token allocation.
- The ATO will be deemed successful only if the Token Sale Multiple (as defined below) is greater than or equal to 2.5.
- The “Token Sale Multiple” shall be calculated as follows: Token Sale Multiple = Total Quantity Oversold in Phase 1 and 2 / Introductory Period Supply
- The “Introductory Period Supply” is the total circulation tokens in 90 days after listing, comprising the sum of Tokens circulated before initial listing (e.g. from private placements, mining or otherwise) plus all other Tokens to be listed via the ATO token sale.
- The “Total Quantity Oversold” is equal to the sum of tokens that participants on the Marketplace request to purchase for during ATO token sale phases.
- If the ATO is successful, the participant will receive tokens based on the terms of the token allocation guidelines. Participant funds that unsuccessfully participated or were part of the oversubscription will be immediately unlocked after Internal Review results are published.
If the ATO fails to reach or exceed the 2.5x token over-sale, all funds for each ATO participant will be immediately unlocked and returned.
Step Three：Internal Review and Token Allocation
- Internal Review is the calculation process of ATO results conducted by 55. ATO results will be published including, but not necessarily including or limited to total participation, listing date, etc.
- Token Allocation Phase 1: For the first-come, first-serve participants, the level of ATO participation will be allocated to the total token allocation of Phase 1 at a ratio of 1:1.
- Token Allocation Phase 2: In the proportional allocation of the ATO, the higher the amount of participation, the higher the number of tokens received.
- 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
Example: Suppose 100 tokens are presold via ATO and a% tokens are allocated in phase 2. If the total quantity of oversold tokens in phase 2 is 200, a participant who purchased 50 tokens in phase 2 will eventually get 0.25a tokens (=(a% * 100/200)*50)
- Digital assets are high-risk investments. Users need to assess their risk tolerance objectively, read and understand the rules in detail, and participate in transactions rationally. None of the information in this Announcement or the 55 constitutes any investment recommendation. 55 Asset Network does not bear any direct or indirect losses arising from reliance on such information.
- If there is a fraudulent activity or bad actor activity of any kind as determined by the General Counsel and Legal Advisory of 55, 55 retain the right to disqualify ATO participation subject to monetary Fiat, digital currency, or token penalty or withholding of deposit.
- The final interpretation of this activity shall be with the 55 in congruence with the laws and regulations of New York State and the United States of America.