The First ICO on Byteball: Titan Coin – a Token Backed by the Precious Metal Titanium

The pre-ICO of cryptographic token Titan Coin is set to start on November 4, 2017!

Titan Coin is a project that will provide investors with the product of industrial production. What’s more, for the first time in history, an ICO will be conducted on the Byteball platform. This means that investing is only open to holders of those coins and tokens. The pre-ICO Titan Coin simultaneously with a free airdrop of Byteball Bytes.

Byteball is a new generation of DAG-based cryptocurrency operating without a blockchain or mining with key features of fast and unchanging transactions that can be hidden or confirmed with the help of a third party. The platform was introduced in mid-2016. Its key feature is airdrop – free token crediting to current bytes holders. The nearest airdrop will be held on November 4, 2017 at 05.23 UTC (full moon). At this time, all holders of Byteball Bytes crypto currency will receive a certain number of tokens for free.

The price offered to the project investors: 1 Titan Coin = 0.0005 GBYTE = 1 kg of ilmenite concentrate. The total cost of the project will be 56,000 Byteball or 11.2 million US dollars in a crypto currency equivalent.

The pre-ICO will last for one month. The main stage will begin about two months after that. At the initial stage, Titan Coin is offered an additional bonus of up to 75% above the face value. At subsequent ICO stages, bonuses from the token’s purchase will be up to 25% above the face value.

Funds raised are necessary to create high-tech production of titanium products. There is a high degree of value added from titanium bearing raw materials due to the large number of uses of the material. The key mining facility is based in Zlatoust (Magnitka village, Kusinsky district of Chelyabinsk region). This facility contains about 2,450,00 tons of titanium containing waste sands.

Results of trial drilling and X-ray fluorescence analysis conducted by the Institute of Mineralogy, Ural branch of the Russian Academy of Sciences, confirm that the sands contain from 4% to 8% of titanium dioxide in the form of tiny particles less than 0.4 mm of the mineral ilmenite. Because of this, there is already a large supply of warehoused of pre-mined and crushed material ready for industrial processing. Processing can result in the production of about 350,000 tons of ilmenite concentrate  containing at least 42% TiO2 with a total value of more than 100 million dollars.

Benefits for investors
The amount of raw materials offered for sale with the ICO is 100,000 tons (100 million Titan Coin). The company provides an opportunity to buy TiO2 at a 15% discount from the market value in fiat money.

The repurchase of Titan Coin blockchain options will start 3 months after the end of fundraising. Quarterly repurchase will be 10% of Titan Coin. Also, investors will have the right to exchange tokens for the corresponding volume of ilmenite concentrate.

How important is TiO2
The global consumption of titanium dioxide has increased from 4.5 million tons per year in 2005 to 6.8 million tons per year in 2016, which amounted to about 13.5 billion dollars. The main countries providing growth in titanium dioxide consumption today are China, Indonesia, Thailand, the Philippines, India, Turkey, Russia and Brazil. Per capita consumption of titanium dioxide in China is 1.1 kg per year, compared with 2.7 kg for Europe and the United States.

In its pure form and in alloys, titanium is used not only in the aircraft building and automotive industries, but also in chemical, agricultural, food and medical industries, various industrial processes, as well as in sports goods, mobile phones and consumer electronics.

Depending on the total amount of funds raised, the project will be implemented completely or partially. Implementation of even the first stage of the project will allow the company to increase the volume of products significantly and strengthen the autonomy of Russia in the global industrial arena.

More information about Titan Coin and the stages of project can be found on the company’s website: //titan-coin.com/

Byteball Wallets and more information can be found at: //byteball.org/