PHASE 2 – Selling Digital Tokens
We are selling digital tokens for Phase 2 of our 2-part funding round. Phase 1 was designed to get us to Phase 2, and if we have started Phase 2, then we were successful at raising our goal of $10,000 in Phase 1.
In Phase 2, as part of our crowd funding offer, we are selling digital tokens. A digital token is a tradeable asset that can be used as a currency, or a representation of an asset. We have created digital tokens by using the smart contract feature on the Ethereum Network. These tokens use a standard coin API so the contract will be automatically compatible with any wallet, other contract or exchange also using this standard.
The total amount of tokens in circulation is set to 15 million. This is the projected estimated value of Zaug Stoves in ten years, once we have the certifications and the patents.
Our Goal- $200,000
We are offering these tokens for sale in an effort to raise $200,000. This is the amount needed to get a certified, legal, mass-heating stove to production. Each token costs $1 and will be redeemable at Zaug Stoves after 24 months. Zaug Tokens as they will be called, will be accepted as payment towards any products Zaug Stoves makes. The value of the coin will be determined by supply and demand.
The long term plan for the tokens is to help the company raise enough funds to get certified and ultimately manufacture stoves. We feel that this is not only fair to our donors and investors, it’s also a way to get our product produced on a global scale.
Where Does the Money Go?
Phase 2 will allow us to build a new design prototype and test it with the EPA. Each test with the EPA costs $15,000 and may not yield the certification, so it’s important that we do it right the first time.
With $200,000 we intend to accomplish the following:
- Create a New Prototype (Designed for EPA Certification)
- Obtain EPA Certification
- Obtain UL Listing / CE Listing For Europe
- Apply For US Patent
- Apply For World Patent
- Develop CAD Blueprints for Manufacturing
- Lease a Manufacturing Facility 6 Months
- Build A Professional Website
- Start Taking Orders
- Hire Employees 6 Months
At this point, we should be able to sustain ourselves through sales.
Thank you for taking the time to read this. With your help, we will finally pass the certification and begin the journey.