Venture Network launches a Venture Token rewards program and a Fund with 300 Billion Venture Tokens

Venture Network launches a Venture Token rewards program and a Fund with 300 Billion Venture Tokens

Silicon Valley Veterans create world’s biggest Blockchain Fund and Venture Rewards Program

Venture Network AG is announcing, the launch of its Venture Token platform and a pre-sale of Venture Tokens to private investors. The Venture Network will create venture Tokens in order to provide liquidity and diversification to the world’s startup founders and investors.

The company plans to sell up to 304 billion tokens in the token sale by the end of September 2018. In the USA only accredited investors will be able to participate in the token sale. The initial value of the fund will be between $1.8 billion and $3 billion.

Startup Founders and Investors will earn Venture Tokens following funding events

Following the token sale Venture Network AG will initiate a series of smart contracts - sometimes called a DAO (digital autonomous organisation). The smart contracts will generate Venture Tokens as a reward to startup founders and investors who successfully close a funding round for their company. Any funding event - the funding of a startup by an investor - will qualify both the founder and the investor for Venture Tokens in an airdrop like mechanism. This will be a permanent smart contract.

How it works

In the example of a typical $1MM funding round the Venture Network AG smart contract will offer 1 Venture Token per US$ invested to the founder of the company that has been funded, and a further 1 Venture Tokens per US$ invested to the lead investor. If the Venture Tokens are accepted by the recipients the smart contract will deliver the reward tokens to a personal crypto wallet for the recipients. They can choose to further distribute them to other members of the startup or investment teams.

Authoritative sources trigger a smart contract for Venture Token rewards.

A funding event has to be reported to Venture Network AG by a designated authority competent to authenticate the legitimacy of the funding round. When that happens a smart contract will be triggered. The authority will receive 1 Token for every $20 invested in the round, or 5% of the tokens received by the founder or investor. Venture Network AG expects to announce initial contracts with designated authorities over the coming weeks.

The Token Sale will create a Fund

Once complete the proceeds of the Venture Token pre-sale will be endowed in the Venture Network Fund by the Swiss corporation. This event will be managed via a second smart contract. The fund will receive both the proceeds of the token sale and all unsold Venture Tokens - a total of 304 billion tokens, some sold in the sale others not. The initial value of the fund will be between $1.8 billion and $3 billion depending on the exact outcome of the token sale.

The Fund will return 80% of its investments to the Venture Token Community via a Marketplace

As the Venture Network Fund invests in both token sales and equities it will return 80% of all investments back to the Venture Token owners. This will happen by placing the invested assets into the Venture Network Marketplace, and make them available only to owners of Venture Tokens. This is the third smart contract and it will govern the distribution of assets back to the community. Over time this will amount to billions of dollars of assets made available to token holders. Third parties will also be able to list their illiquid assets in the marketplace and accept Venture Tokens in exchange for them. The value of these assets underpins the value of the Venture Tokens.

The Founding team

Venture Network is founded by a strong team of Silicon Valley veterans. Yuri Rabinovich (Startup Monthly; Monthly Ventures and Synergy Chain) is a Managing Partner; Keith Teare (Easynet; RealNames; TechCrunch founding shareholder; Archimedes Labs and ADV) is an owner in the General Partnership; Roberto Medrano (formerly HP Software, Finjan, Avnet, Sun Microsystems) is Chief Operating Officer; Sergey Zhukov (formerly with chat.center and just.me) is Chief Technology Officer.

 

 

 

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