Frequently Asked Question
The purpose of the Boleno token or BLN is to serve as the currency of the Bolenum project. They are a store of value and a secured payment instrument for transactions. Using the Bolenum exchange, they will be exchangeable into local African fiat currencies such as the Naira or foreign fiat currencies such as the US dollar. The Boleno tokens will also be able to be traded on third party cryptocurrency exchanges as well as the Bolenum exchange.
Boleno tokens will all be created during the period of the ICO. The Boleno Initial Coin Offering (ICO) event will last for 30 days beginning at 8:0030 GMT on the 15th of July 2017. A fixed total of 10,000,000 Boleno tokens will be created and no more will be created after the end of the ICO. Of this number, 50% (5,000,000) will be publicly offered during the ICO and put in circulation. The remaining tokens will be held by the Bolenum team and used as capital to support our future exchange.
Instructions for participating in the ICO of Boleno tokens will be posted on our ICO web page beginning at 8:00 GMT on the 15th of July 2017. Every investor can visit our ICO page where the sale instructions will be posted. The ICO sale will be managed by an Ethereum smart contract. Only during the ICO, the Boleno token will be issued at a static price of 0.02 ETH. The price will later be set by the market as the forces of supply and demand begin working after the tokens are in circulation. All purchased BLN tokens will be transferred immediately from the contract to your Ethereum wallet after purchase.
Tokens will be able to be available for trade on our partner cryptocurrency exchanges. Tokens will start appearing on exchanges following the end of the ICO cycle.
Currently, investors can purchase their tokens using Ether (ETH). Shapeshift can also be used to convert most other major cryptocurrencies to Ether directly from our ICO page. In this case, you will need to provide the address of an Ethereum wallet to receive the Boleno tokens on. You must use a wallet that supports Ethereum ERC20 contracts. Do not use a third party Ethereum wallet address, such as third party exchanges, to receive your tokens.
Investors will be notified about all activities and milestones relating to the Bolenum project through emailed newsletters and information posted on our social media accounts.