FAQ

1. What Is SparesHub Blockchain Platform and why do you need it?

SparesHub is building a blockchain based solution to solve the problem of counterfeit and duplicate parts.

Using our blockchain platform automaker and consumers will be able to track the provenance of a part from inception to disposal.

It will be easy for the Warranty team to identify counterfeits quickly therefore Warranty Management can be done in a faster way.

SparesHub Blockchain Platform can also be used to reduce the cost of parts recall

2. What is a SparesHub Token and what will be its use?

SST Token (SparesHub Token) is the Utility Token of the blockchain powered eco-system for automobile car maintenance. Price per token is locked on $0.1 USD per 1 Token. The tokens can be used to buy car parts from SparesHub.com or SparesHub retail stores. The tokens would be eligible for dividends and buybacks equal to 20% of the annual profits of the company. The tokens would also be used for incentivizing the multiple participants in the blockchain – like manufacturers, distributors, retailers. The tokens would be used to compensate for the proof-of-work on the blockchain. The supply of token would be limited and capped but their usage would be spread and continued over the next 15 years.

3. When will the Initial Coin Offering (ICO) start?

Our Crowd sale will start on 10th April 2018.

4. How much are you planning to raise?

Stage

Fund Raising Goal

Pre-ICO

0 to $2 million

Main ICO

< $2 million to $5 million

Main ICO

< $5 million to $10 million

Main ICO

< $10 million to $15 million

Main ICO

< $ 15 million to $20 million

Main ICO

< $20 million to $25 million

5. What is the total token supply and what will be the hardcap/softcap?

Token supply: Maximum supply of 375 million tokens

Token Sale Soft cap - USD$1 million

Token sale soft cap is the minimum amount of funding SparesHub ICO would raise to be        classified as a successful ICO. If the ICO fails to reaches it’s soft cap, all the investors of the SparesHub ICO who have invested in the token, would be returned their money.

Token Sale Hard cap – USD$ 25 million

Token sale hard cap is the maximum amount SparesHub ICO would raise. Any investment amount received more than the hard-cap would not be accepted and returned to the investor.

6. What is the vesting schedule of SparesHub tokens for team and others?

Token Distribution

·         5% Founders & Team

·         5% Bounty Program

·         65% ICO Investors

·         25% Company Reserve

7. What is the plan for SparesHub Token Buyback? Will the Token be burned?

SparesHub would regularly buyback tokens from the open market from the profits earned and these tokens shall then be burned. This will result in the price increase of all the remaining tokens with the token holders and provide capital appreciation to the token holders. SparesHub will undertake token buyback in regular intervals of time and maintain the price of the SparesHub token in the open market.

8. How will you use money collected on ICO and pre ICO?

The funds raised by the company in the ICO would be available to the company only in tranches. The funds would be put in an escrow account in USD denominated in a reputed international bank. 20% of the funds would be released to the company every 4 months for the next 16 months. Rest of the funds would stay secured in the bank escrow account.

9. What are the other benefits for investors (apart from price appreciation of token) ?
  • 25% Annual Net Profit as dividends
  • Price appreciation due to Token BuyBack and Burning
  • SparesHub Token would be used for buying Car Parts
  • SparesHub Token would be used for paying for Car Repairs at 20,000+ SparesHub Certified Repair Centers
  • SparesHub Token would be used to incentivize and pay supply chain participants on the SparesHub Blockchain Platform
  • SparesHub and other OEMs Customer Loyalty Points Program
10. Is there a Bounty Program?

Yes, we do have a Bounty Program. 5% of SparesHub Token is reserved for Bounty Program. The tasks and percentage of token allotment under the Bounty Program are:

  • Facebook campaign – 10% of bounty pool
  • Twitter campaign – 10% of bounty pool
  • Bitcointalk signature campaign – 15% of bounty pool
  • SparesHub thread support – 10% of bounty pool
  • Bitcointalk translation campaign – 15% of bounty pool
  • Exclusive support – 40% of bounty pool.

Bounties are provided after the crowdsale ends. At the end of the crowdsale all sold tokens are considered to be 65% of the total supply. Then 5% are then distributed among founders and bounties receivers according to the information above.

11. Is KYC (Know Your Customer) a must?

All investors of SparesHub ICO would be required to submit appropriate KYC (Know-your-customer) documents. Investors would be allotted SparesHub Tokens only after they have successfully submitted the KYC documents and those documents have been verified by the SparesHub as approved. KYC documents would be an ID proof and an address proof and a selfie along with the ID proof.

12. What is the Minimum Investment?

The minimum investment will be $100 USD per investor.

13. What is the bonus for Pre Sale ICO participant?

Pre ICO – Private Placement to Institutional Investors – 40%

14. Where is your company based?

Spareshub is based out of Pune, Maharashtra, India.

15. Where can I find more information on the team?

More information on the team can be found on the link:

https://token.spareshub.com/team/

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