Our presale is scheduled to commence on 15 December 2017, with the crowdsale starting on 15 January 2018. More details of the token sale structure can be found here.
Between them, the Ignite team has decades of experience working with the SEC and other financial regulators. At Ignite, we hope to set the example for transparency and professionalism, and we feel confident that we can demonstrate to financial regulators worldwide that “regulation” does not always need to mean “centralised regulation”. To this end, we would welcome the opportunity to work alongside any regulator who has a desire to develop a realistic and sustainable framework for the regulation of ICOs and distributed ledger technologies generally.
Yes, of course – we do not discriminate! While the current legal situation with the USA is far from black and white, we have a good faith belief (which is supported by guidance received) that there is no compelling reason why Ignite should not accept contributions from US residents/citizens during the presale or crowdsale. This is a dynamically shifting situation and, as such, we reserve the right to continually revisit our position.
No, it should not be.
It is very important to note that, first and foremost, Ignite is building a ratings and trade signals platform. The income component generated by the wider Ignite ecosystem is designed purely to be an incentivisation mechanism which encourages IGNT holders to continue to initiate and curate ratings on digital assets, and regulate the conduct of their peers via reputation management. IGNT acts as proof of membership for a software platform that leverages a reward mechanism which, in turn, requires IGNT holders to participate in order to achieve any gains for themselves.
We are advised that the element of participation and interaction required on the part of IGNT holders further allows IGNT to avoid classification as a security, pursuant to US securities laws, as it is much less likely to fail the “Howey Test”. This is due to the fact that the requirement for active participation on the part of each IGNT holder considerably lessens any suggestion that an expectation of profits is dependent upon the actions and efforts of others. The Ignite RATINGS platform places the burden of generating “profits” squarely into the hands of IGNT holders themselves, and there is no expectation of profits for those IGNT holders who do not actively participate in the Ignite RATINGS process.
Please see our completed “Securities Law Framework” self-assessment checklist for IGNT for more information – this document has been produced as a result of an initiative between Coinbase, Coin Center, Union Square Ventures and Consensys.
No. The Ignite MASTER INDEX is an investment vehicle created by Ignite for the purposes of validating Ignite RATINGS and generating incentivisation events for the members of the Ignite HIVE. The INDEX itself is owned by Ignite, but we entrust its management to our community members and we reward them for its successes.
Ignite does not hold or manage any monies on behalf of third parties
While the Ignite crowdsale certainly presents a great opportunity to contribute to, and support the Ignite project, IGNITE itself is not intended to be an investment product. IGNITE tokens provide proof of membership to the Ignite community, and allow participation in the Ignite RATINGS process. IGNITE may increase in inherent value due to scarcity, the perceived value of being a verified member of the Ignite community and eligibility to participate in Ignite’s incentive programme. However, it is important to note that IGNITE should not be considered an investment opportunity, and that being an IGNITE token holder does not confer any of the rights or benefits that one would normally associate with shares or a mutual fund investment. IGNITE offers our users the opportunity to access the Ignite RATINGS platform and participate in the Ignite RATINGS process, as an IGNITE holder, a user is eligible to receive a share of any rewards due to the Ignite HIVE in return for providing investment intelligence to the Ignite INDICES.
Absolutely! Our goal has always been to leverage decentralised technologies and swarm theory to disrupt the traditional financial ratings industry. The current interest and momentum in the crypto and ICO space has provided us with the perfect opportunity and environment from within which to develop and perfect the technologies that we have been thinking about for some time already. Once we have done this, we plan to take on the traditional markets in exactly the same way.
All IGNITE holders are eligible to participate in, and benefit from, the incentives created by the Ignite ecosystem.
As Ignite is an entirely community-driven product, active participation is required on the part of the community to deploy capital from the Ignite MASTER INDEX and realise trading gains.
In addition to income incentives, the Ignite MASTER INDEX should also grow in value due to 30% of trading gains, and 100% of any distributions received from its holdings, being reinvested – so the earning power for IGNT holders increases with each profitable trade, as the amount of deployable capital increases.
Due to the buying power of the platform, it is assumed that Ignite will be offered preferential pricing on many upcoming ICOs, permitting the Ignite MASTER INDEX an opportunity to earn significant uplift from trading activity.
Quite a lot, actually! Ignite RATINGS is being built from the ground up to ensure that any meaningful manipulation is not only technically difficult, but also entirely impractical and financially-limiting. The Ignite RATINGS platform is one that is built on trust and peer review – within the Ignite community, an individual’s reputation goes a long way but, similarly, will only take them so far. As in the real world, reputation is earned, not given.
Essentially, we combine certain base functionalities and restrictions of the Ignite user account with the ever-learning Ignite REPUTATION ENGINE, which ensures that only those members who are reputationally “eligible” are able to participate in, and influence, the actual ratings process (anyone can contribute to a rating, but their opinions may not be taken into account for the purpose of determining an Ignite RATINGS score if they are not sufficiently reputable). This means that, for a user’s reputation score to grow to the point where they are able to have any meaningful influence on a rating, the user must have previously submitted a considerable amount of high quality content and opinions that has not only passed the scrutiny of the wider Ignite community, but also been shown to track against real-world performance.
3.5 stars is simply an example threshold that we believe might be applicable as a default for the assets contained in a medium risk index. The star rating, or BUY signal, for each individual asset/issue is intended to be variable and set by the members of the Ignite HIVE.
The answer is very simple…any Ignite community member’s ratings, submissions, contributions, content are subject to the review of any other community member – such that any user’s interaction with the Ignite RATINGS process is, itself, rated by the Ignite community. In this way, Ignite HIVE members are responsible for moderating their own community and the quality of the Ignite HIVE’s ratings. In addition, Ignite HIVE members who continually submit low quality ratings (as assessed by their peers) will detrimentally affect their reputation score, to the point where they are no longer eligible to participate and have no impact on ratings. Members with lower reputation scores and/or who are less active on the Ignite RATINGS platform, will also have reduced income potential until such time as they start to submit quality reviews and ratings.
The Ignite REPUTATION ENGINE is core to the Ignite Architecture and software solution. It is engineered to determine how much of an impact an Ignite community member’s ratings and submissions should have in the context of an overall Ignite RATINGS score. Simply put, users that post poor quality content are expected to be afforded a low reputational score by the Ignite community, while users that submit high quality content are expected to be afforded a higher rating.
No, it is not. Trust and reputation have a very, very key role to play in a truly decentralised ratings solution – which is why we are developing the Ignite REPUTATION ENGINE. That being said, every Ignite community member account is created equal – similarly, equal power lies with each individual member to seek to improve their reputation score in order to add greater weight to the Ignite RATINGS process.
60% of the contributions will be used to seed the Ignite MASTER INDEX, to be deployed based on the trading signals of the Ignite HIVE. 40% of the contributions will be used for the day-to-day operations of Ignite, including continuing to build out the Ignite RATINGS platform and associated software. This is a serious undertaking as we aim to disrupt the way that the blockchain community approaches ICOs – even more so, when you consider that we hope to be able to apply our solution to traditional assets within months of the launch of the Ignite RATINGS platform. We have already hired, and will continue to hire top talent to help us in building out the Ignite ecosystem and, clearly, the quality of the Ignite solution, its time to market and the number of key features we will be able to squeeze in at this stage, will all be accelerated with the help of a successful SEED and crowdsale.
We will only retain sufficient balances within our BTC and ETH wallets, and/or on exchanges, to meet immediate liquidity needs. We believe in deploying capital as transparently as possible. As such, an internationally reknowned professional services firm will be a mandatory signatory on our multisig wallets, while Chris and Damon, Ignite’s founders and Directors, will be the remaining two signatories. A minimum of 2 signatures is required to release any funds from the crowdsale proceeds, one of which must the professional services firm. Funds which are not deployed in our wallets and/or on an exchange are kept in cold storage in a secured location.
We are in discussions with several exchanges, as exchange integration is a core element to the Ignite ecosystem itself. To be able to take full advantage of the trading signals provided by the Ignite RATINGS platform, we obviously require ready liquidity, which is why we are partnering with T ZERO to help develop a routing technology to facilitate trade execution over a number of exchanges. Exchanges will benefit from the increased liquidity provided by our order-routing service and we will be working closely with them to implement this technology.
Accordingly, while the decision is ultimately out of our hands, we hope that IGNT will start to be listed on major exchanges, including US-based exchanges, shortly after completion of the crowdsale.
Upon completion of the Ignite SEED, we are committed to beginning a proactive, collaborative process of legal review with all major exchanges to ensure that there is no impediment to the listing of IGNT.