CRYDE is the first truly transparent raffle managed by Ethereum smart contracts and Bitcoin Blockchain. In order to fulfill our idea in the best possible way we are making the whole raffle fully transparent: every ticket sold, every win, all the token holder rewards distributed and financial results will be published on the blockchain.
As the first step, we plan to create Crypto Ride tokens (called CRYDE) which will grant holders an access to our first ever CRYDE Raffle and entitle them to earn 60% on future profits of the raffle. CRYDE token's crowd sale ("ICO") goal is set at USD 13,150,000. Up to 70% of the funds raised will be allocated to secure the winners' prize for the first 8 Months after CRYDE’s main platform launch. In the ICO, 60% of all CRYDE tokens will be distributed within the community. The team will own 30% of the tokens. Since our goal is not making quick profit, our 30% will be locked in a smart contract for 3 years, releasing 2.78% of the locked tokens each month starting from the official release of CRYDE platform. We will not be able to claim profit dividends on our tokens locked in this smart contract. 7% will be used to pay for advisors and 3% for bounty services.
Unsold CRYDE tokens will be locked for 1 year. Afterwards, they will be available for sale at various exchanges (Dividends will not be claimed on the unsold, locked tokens for this timeframe providing more dividends to investors)