A Token Generation Event (TGE) is an event that launches a new cryptocurrency, introducing it to the cryptocurrency market. While this is sometimes referred to as an ICO (Initial Coin Offering), the two events are different and serve separate functions (see FAQ below).
While people often refer to a TGE as an ICO (Initial Coin Offering), the difference is in the type of cryptocurrency that is being introduced to the market. A TGE is the launch of a Token, which is a cryptocurrency that has a specific application to a given product or marketplace. An ICO is designed to launch a Coin, a type of cryptocurrency that is as a currency in and of itself. Purchasing Token through a TGE is generally a way to establish oneself as an early adopter of a given product or platform; purchasing Coin through an ICO is often an investment in a specific currency. Purchasing Tokens in a TGE essentially offers the ability to use the platform in the future for a discounted price.
No, the purchase of Caerus Token is not an investment. The Tokens being sold are exclusively for use on the Caerus Connections platform. The management team of Caerus Connections does not offer any promises, projections, or insights into the price of the Caerus Token after the sale. In fact, it may be the case that all of the Tokens sold in the pre-TGE and TGE phases are used on the Caerus platform and any secondary markets that facilitate the trading of the Caerus Token will experience severe illiquidity. We believe that any Tokens that are traded on the secondary market will be for usage of the platform.
The Caerus Connections TGE will offer Tokens at a flat rate of 0.0024 Ether (ETH) per Caerus Connections Token. During the presale—from January 8, 2018 through April 8, 2018—there will be opportunities to purchase 13,000,000 Tokens and, periodically, with bonus attachments. On April 9, 2018, 4,000,000 more Tokens will be offered until 11:59:59pm on April 29, 2018 or until all of the Tokens are sold.
There are three easy steps to get involved with Caerus Connections:
- Purchase Tokens: This can be done either directly from Caerus during the TGE, purchased on a secondary market (if they are formed), or directly from the Caerus Connections website post-TGE. This will allow users of the platform to purchase their Tokens at a discount to the retail price that will be offered directly from Caerus after the TGE.
- Set up a MetaMask Wallet: In order to receive and use your Tokens, you will need to sign up for a MetaMask wallet. Detailed instructions for doing so are here: Accessing Your Caerus Token
- Caerus Connections Profile: Create a profile on the Caerus Connections platform and off you go!
There will be two ways to purchase the Token:
- Pay using Ether (ETH): This is the recommended method for purchasing Caerus Token. Once you have set up and funded a wallet with Ether, you will initiate a transaction to send funds to the Caerus wallet. By doing this, you will activate a ‘smart contract’ that will automatically send you Tokens in proportion to the amount of Ether you paid (0.0024 ETH per Caerus Token).
- Pay using another currency (USD, BTC, LTC, other): This method will still work, it will just take longer to get your Tokens–about 24 hours from the time of purchase (see next FAQ). With this method you will send your preferred currency to the Caerus wallet of that type (send BTC to our BTC wallet, etc.) and fill out a form informing us of the details of your purchase, your information, and your wallet address. We will review the information and will send you the commensurate amount of Caerus Tokens to your ERC-20 compatible wallet.
Any Tokens that are purchased in the pre-TGE or TGE will be credited within 1 business day.
We recommend that all Caerus Tokens be stored in the MetaMask wallet. Instructions for downloading and installing this wallet are available on the Caerus Connections website. The MetaMask wallet is currently the gold-standard from a security standpoint for hot (online) wallets that store different types of ERC-20 Tokens.
Each wallet is protected in two ways: first, there is a randomly generated security phrase (called a “seed phrase”) that can be used to recover or access ay MetaMask wallet at any time. It is essential when you create your wallet you keep this code confidential. If you lose the code, you will lose access to all of your Tokens. Due to the immutable nature of the blockchain, once the coins are in your possession, Caerus Connections will not be able to access the coins, recover passwords for your wallet, or resend coins that have been lost or misplaced. In addition to the seed phrases, wallets are also secured using a password that is set by the user. Without access to both the seed phrase and the password, it is not possible to access the wallet.
The second security feature protecting your Tokens is the Ethereum blockchain itself. The blockchain is an immutable ledger that cannot be changed once a transaction has been recorded into it. Thus, once you have paid for your coins and have received them into your wallet, that transaction has been recorded into the blockchain forever and cannot be changed. If there is ever confusion as to how many Tokens were purchased, how much currency was paid, or if a malicious third party tries to steal your Tokens, there will be a record showing that you, and only you, have ownership.
Caerus Token is for use on the Caerus Connection platform, a blockchain-based recruiting site that provides companies and potential employees with direct access to one another and to verified employment data. While some features on the Caerus Connections platform are free, enhanced features are available through a Platinum membership, which can be purchased with Caerus Tokens. Additional instructions for use of Caerus Token will be available on the Caerus Connections website.
This is part of future development of Caerus Token and will not be an initial available feature. While we believe there should be limited need for a secondary market for Caerus Tokens, we also understand that users’ needs change and they may want to buy more Tokens or sell the ones they purchased after the TGE is completed. These exchanges occur on secondary markets which allow the exchange of Tokens for other Tokens, cryptocurrency, or fiat currency.
We would like to emphasize that we anticipate the only usage of the secondary markets will be to facilitate the transfer of Tokens so that they may be utilized on the Caerus Connections platform, and for no other purpose.
Yes, we anticipate the Token will be used in all countries that allow their citizens to transact in and use crypto-assets.
The initial value was determined by the Caerus Connections management team and will remain fixed throughout the TGE at 0.0024ETH per Caerus Token.
- Note: once the Ethereum price becomes less volatile and thus a better store of value, we may change the price of the retail coins to be reflected in ETH.
The value of the Tokens that are bought and sold on any third party exchanges will merely be a function of supply and demand for the Token. We have no interest in predicting how this value will change over time.
73,000,000 CAER Tokens were created and available for circulation. Each Token can be divisible up to 8 decimal points.
The long-term goal for Caerus Connections is to be the primary platform through which companies and qualified candidates find one another.