In the crowdsale, backers will receive the project’s proprietary Proof-of-Stake cryptocurrency, SEND. SendChat indicated that it needs to raise a minimum of 90 bitcoins for the sale to be a success. The SendChat founders have set a maximum level of 390.5 bitcoins that the project can receive in this crowdfund, which they feel is enough.
Anything over 90 Bitcoin will enable the SendChat team to accelerate our customer engagement, increase our visibility across our target market, hire a small professional in house development team, hire a small product support team and to deliver an accelerated but tightly focused high impact client acquisition and channel marketing plan.
SendChat has devised an incentive bonus system for the sale. The terms of the bonus system are:
•The first 18 backers that back this crowdfund with 5 bitcoin or above will receive a 10% bonus of SEND.
•The first 32 backers that back this crowdfund with anything between 3 and 5 bitcoin will receive 5% bonus of SEND.
•The first 101 backers that back SendChat’s crowdfund with 1 to 3 bitcoin will receive a 2.5% bonus of SEND.
•Finally all of the first 207 backers that back this project with 0.5 BTC to 1 BTC will receive a 1% bonus of SEND!
The SendChat crowdfunding campaign ends on the 20th of May.
SendChat’s crowdfunding maximum target is modest when compared to competitive blockchain-based social messenger platform Getgems, which raised a reported 2,633 bitcoins in its crowdfunding campaign on the Koinify platform earlier this year.
Similar to Koinify, Blocktrust offers a Blockchain-based certification and crowdfund hosting service with authentication through clearinghouse, development team auditing, milestone monitoring and secure multisig escrow.