BizShake, a P2P sharing and tokenization ecosystem on the NEO blockchain, has announced its security token offering, revealing its BZS tokens that will be made available to the public. Bizshake’s private sale will begin on the 1st of October, and its public sale will begin on the 15th of October.

BizShake tokens will be classified as securities. Token holders will be entitled to vote for the business strategies proposed by BizShake, and elect one representative to become a member of the board of directors. BizShake is also preparing to apply for a US SEC Reg A+ rating to be compliant with ICO regulations and the submission will be filed within the next 2 to 3 weeks. An alpha version of the Bizshake platform is due to be released before the token generation event in October.

BizShake is a US startup that was formed from a team of retail, e-commerce and technology companies, and was formed with the vision that the P2P sharing economy will benefit our society as a whole. The company has offices in Hong Kong, New York, and Shanghai.

BizShake is developing a “P2P sharing ecosystem” on NEO that will let users monetize their assets through renting and selling them to other users. Assets can include anything that someone would like to share with others, like appliances, luxury goods, apartments, vehicles and more.

BizShake will use blockchain technology to regulate P2P transactions in a decentralized way, so that users can benefit from a greatly reduced cost and fees. The cost savings will come through the platform’s ability to tokenize high value assets on the platform, the transparency of user profile through digital identity management, and the security provided by an automated dispute system that is under peer control.

BizShake’s ITO Structure

  • Total tokens quantity: 200,000,000
  • Token Available at Sales: 100,000,000
  • Token ticker: BZS
  • Token type: NEP-5
  • STO event dates: Private sale: Oct 1st, 2018 – Oct 14th, 2018
  • Crowd sale: Oct 15th, 2018 – Oct 31st, 2018
  • Accepted Cryptocurrency for the STO event: NEO, GAS, ONT
  • Early adoption bonuses:
  • Private Sale (Oct 1 – Oct 14): 40% (1 NEO = 260 BZS) (Minimum contribution for Private Sale: 1,500 NEO or equivalent)
  • Crowd Sale Phase 1 (Oct 15 – Oct 18): 25% (1 NEO = 230 BZS)
  • Crowd Sale Phase 2 (Oct 19 – Oct 21): 15% (1 NEO = 215 BZS)
  • Crowd Sale Phase 2 (Oct 22 – Oct 25): 10% (1 NEO = 200 BZS)
  • Crowd Sale Phase 2 (Oct 26 – Oct 31): None (1 NEO = 185 BZS)

Moreover, the token holders will be entitled to receive 30% of the dividends distributed by BizShake Inc.

The minimum contribution for the Crowd Sale is 1 NEO or equivalent.

The price of the tokens is determined at the current NEO and USD exchange rate, which is currently $74 per NEO. If, however, at the time of token sale there is a difference of over 10% at the present exchange rate, the price of the tokens will be re-determined.

The amount of BZS for each GAS and ONT token will be determined at the point of contribution, with the right NEO/GAS and NEO/ONT ratio.

Also, Chinese citizens will not be allowed to participate in the BizShake token sale due to specific regulation from Chinese authorities.

Token Distribution and Allocation

BizShake has also supplied details of how its tokens will be distributed and allocated, with its distribution of tokens shown below.

  • 50% sold at token sale
  • 30% reserve
  • 15% founders
  • 5% advisors

Below is how the above tokens will be allocated:

  • 50% Product development and G&A
  • 25% marketing
  • 15% business development., T&E
  • 5% legal
  • 5% other

BizShake Governance model for Token Holders

Token holders will be able to vote in the Token Holders Steering Committee. This means that token holders will have the power to vote for the following:

  • All strategic business decisions and any other decision escalated to the Board of Directors;
  • To select one member of the Board of Directors.

The votes of the token holders will be weighed proportionately to the number of tokens they hold at the time of each vote. The voting operations will be regulated by a smart contract to guarantee the integrity and transparency of the process. The Quorum and dates of each vote will be decided and communicated before voting commences.

More information about BizShake can be found in the links below.