FAQ for WEALTH ICO
Joint Commonwealth Fund (JCF) is a Social Impact Fund that invests in crypto/tokenized assets with the vision to make basic income universal to 1B+ people by 2040.
We are launching an Initial Coin Offering (ICO) for the WEALTH Platform TODAY on Dec. 10th, 2022. And here are some FAQs to share more details on what WEALTH intends to do and why you might want to join.
What Is WEALTH and its ICO (Initial Coin Offering)?
WEALTH is a fund-raising platform for social impact projects based on blockchain, FOR entrepreneurs BY entrepreneurs.
You can think of it as a “tokenized Kickstarter for impact projects”.
The WEALTH ICO is a fund-raising effort to make the WEALTH platform a reality, organized by Joint Commonwealth Ltd, a social enterprise based in UK, with the social mission to make basic income universal to 1B+ people by 2040.
Why Another Fund-Raising Platform?
Existing means to raise funds for entrepreneurial projects are via banks, venture capital (VC), family/friends/fools (triple-Fs). The first two require collateral or could be very time/energy-consuming. Triple-F funding is how most founders start, but are mostly under the table with little transparency and/or accountability.
WEALTH aims to modernize how funding is executed for entrepreneurs, especially if they have a social impact angle.
How Does WEALTH work?
If you are an experienced entrepreneur with a US $1M+ net-worth you can participate in WEALTH’s fund-raising as either a “Founder” or a “Sponsor”.
For “Founders”, you can: 1) list your impact project; 2) raise and close funding via stable-coins such as USDT in as quickly as 1–2 weeks; 3) access the funds raised in stages as you accomplish promised milestones.
For “Sponsors”, you can: 1) find quality impact projects to support with a transparent Due Diligence process; 2) support the projects with stable-coins such as USDT; 3) vote for important project-related decisions, including whether funding should be released based on agreed milestones.
The funds are raised by trading stable coins such as USDT with the project’s own tokens. And the raised funds are pre-allocated in the following ratios:
- 7% donation tokens: social causes the Founders and Sponsors have chosen.
- 3% platform tokens: WEALTH Platform’s operations (as the platform’s revenue)
- 10% team tokens: the project’s founders/team members/advisors, the specifics are decided by Founders.
- 10% collateral: reserved funding where each project token can be redeemed at any time.
- 80% project tokens: used for the project’s stated purpose, often to develop an impact project from concept to reality.
The minimal amount to participate in WEALTH ICO and future WEALTH-based projects is currently: US $1,000, and may be subject to change.
What’s In It for Me?
As “Founders”: You can raise funds quickly from international Sponsors who are also experienced entrepreneurs.
As “Sponsors”: You get to support quality projects and founders, while obtaining a voting stake in the projects for major decision-making. These decisions include the release of initial funding and possibly future dividends, depending on the project.
As WEALTH ICO “Sponsors”: You get to make WEALTH a reality, can vote on WEALTH’s project decisions, and have priority access to invest in future WEALTH-based projects.
Is It Legal?
Yes in most countries, unless the possion and participation of ICO is banned. You should check with your local lawyers on the legality of the participation of WEALTH ICOs and the possion of WEALTH tokens.
The WEALTH tokens and future project tokens issued via the WEALTH platform are designed as “utility tokens” to vote for the project’s future decisions. As it is not a “security token” (STO) by design, it should be legally obtainable and tradable in most countries.
WEALTH platform itself does not accept or send fiat currency, making WEALTH purely a fund-raising / token-issue ICO platform, but NOT an exchange.
Is It Safe?
Many people are fearful of crypto assets due to their high volatility and scary price swings.
In contrast to most tokens that are purely “trust (or speculation)-based”, WEALTH is intended to be more “assets-based”, meaning that there’s a Net Asset Value (NAV) for each WEALTH token and WEALTH-based project token.
This NAV is guaranteed by a collateral in the form of stable coins such as USDT, and is defaulted at 10% of the fund raised.
WEALTH tokens thus have a publicly traded price and an NAV which can be redeemed any time with the Joint Commonwealth company at the token’s NAV.
ALL WEALTH-based project tokens are based on assets of objective market values. In other words, the value of the WEALTH token is guaranteed by the issuer of the token. As such, even if the tokens are stolen or hacked, the issuer (the Project’s Founder) can still amend the transactions provided sufficient evidence of an unauthorized token transfer.
It’s this more “asset-based” nature that makes WEALTH tokens fundamentally safer than purely “trust-based” tokens, as WEALTH tokens’ values are based on promises to fulfill certain obligations or rights exercised by the project’s Founders.
What Can My WEALTH Tokens Be Used For?
The WEALTH Tokens we’ll release via this ICO serve the following purposes:
1) vote on the release of funding when milestones are met.
2) vote on major decisions regarding the WEALTH Platform (such as ratio adjustment, should it become necessary)
3) redeem with the Joint Commonwealth company at the token’s Net Asset Value (NAV) with stable coins such as USDT. This comes from a reserve kept by the WEALTH platform for each issued token, starting at 10% of the funds raised.
How Much Can I Expect to Make? What’s the RoI?
As each WEALTH token has two prices:
1) a market price based on supply and demand, and
2) a net asset value (NAV) price that initially is 10% of funds raised, but may increase in value as the project becomes profitable and put part of the profit into the “reserved collateral”, which starts at 10% of the funds raised.
The NAV is likely to be more stable while the market price could fluctuate widely based on the trust for each project. Given what we’ve observed of the crypto market, we expect a 15%+ annual RoI to the underlying assets as a general rule of thumb.
Can I Buy WEALTH Tokens?
As WEALTH tokens and tokens issued by WEALTH-based projects are designed as “utility tokens” and not “security tokens”, residents of most countries can purchase them, besides those listed on the FATF blacklist.
WEALTH Projects may have their own restrictions, for example, a U.S. real estate-based project may issue tokens that have to abide by U.S. laws and may decide not be open to non-U.S. Persons.
Can I Transfer/Send WEALTH Tokens to Someone Else?
Yes. WEALTH-based tokens are designed to be transferable ERC tokens. However, certain benefits such as the ability to vote on project decisions, can be exercised only if you’ve also created your user account at the WEALTH Platform and have passed Know Your Customer (KYC) identity verification.
I Know Little About Crypto, Can I Still Participate?
Yes. We understand most people may not be familiar with crypto and are concerned. So we aim to provide an experience as convenient as the current online banks.
You can talk to our customer service on our Facebook page for any inquiry / help in participating in WEALTH. Your own crypto wallet is not required. You can talk to our customer staff directly on our FB page: https://www.facebook.com/JCF.UBI/
I’m Interested, How Can I Get Involved?
The easiest way is to leave a message and talk to our customer staff on our FB page: https://www.facebook.com/JCF.UBI/
You can also go directly to our official site: https://jcf.world to create a new account for WEALTH to participate in the WEALTH ICO or future WEALTH-based projects ICOs.
