70% will be sold to the public: 70% of the total amount of tokens issued will be sold during the pre-ICO and ICO phases to the public.
15% will be reserved funding: 15% of the total amount of tokens issued will be held in reserve for use in future as decided by the governance committee.
The governance committee will be lead by the CEO of Bitex Global and the license holders of the Bitex and EZBitex platform. Funds raised during the ICO will be governed jointly by the shareholders of the local, licensed companies in each of the countries where Bitex will operate as described in this White Paper as well as those of future partners when they join Bitex. Three or more audit companies will be used to audit the funds usage to ensure an efficient and transparent usage of the ICO funds.
9% are for the founders and the team: 9% of the total amount of tokens issued will be given to the founders and team members involved in developing the Bitex project. The amount given to the founders and team members will be placed in a smart contract written to ensure that the funds cannot be withdrawn for 1 year starting July 1st 2018. After 1 year, 1⅔ % of the original vested amount will be distributed each month over a period of 5 years to the founders and team members to ensure that the recipients will not be able to manipulate the market with the tokens they own.
3% will be for advisors: 3% of the total amount of tokens issued will be reserved for rewarding advisors whose continuous efforts have helped shape this project.
1.5% for the Bitex Bounty: 1.5% of the total amount of tokens issued will be used to reward participants through a bounty program that will be announced onhttps://bitcointalk.org/ forum.
1.5% will be reserved for the XBX Referral Program: 1.5% of the total amount of tokens issuedwill be used for marketing and advertising the Bitex cryptobank.