AirToken — Whitepaper Updates and Token Supply Change

Today, AirFox is announcing the release of the latest AirToken Whitepaper (v3.0) and a reduction in the total token supply.

The latest version of the AirToken Whitepaper contains numerous tweaks, typo fixes and additions to address questions raised by pre-sale purchase inquiries and from advice provided by legal counsel. No significant changes to the AirToken business model nor market mechanics were made. Rather, we polished the document, cleaned up the text and clarified some sections to remove ambiguity.

Additionally, the total AirToken supply has been reduced from 150 billion (150,000,000,000) tokens to 1.5 billion (1,500,000,000) tokens. The reason for this is to alleviate concerns raised by many current and potential token holders and token exchanges who prefer each individual token to be worth more. This has no effect on the AirToken market cap, which remains the same regardless of the number of tokens, nor the maximum USD in ETH raised in the ICO, which remains $21 million. This change simply reduces the total number of AirTokens, so each token is worth 100x more.

Token exchanges typically list only the first 8 decimal places of value of an ERC20 token in relation to the price of ETH and BTC. If a given ERC20 token has too large a total token supply, the value of each token may be too low in relation to BTC and ETH to fit within 8 decimal places. This negatively affects the user interface of the exchange and discourages purchasing a given ERC20 token, if only for psychological reasons. Also, token purchasers prefer that each token is worth a higher amount, even if the exchange supports a large token supply.

Therefore, to protect the the interests of crypto-currency exchanges and AirToken purchasers, as well as ensuring the long term success of the AirToken, we are reducing the token supply by a factor of 100. Previously, the normal ICO exchange rate was 5000 AIR per $1 USD in ETH. Now, the exchange rate will be 50 AIR per $1 USD in ETH.

For token purchasers who already took part in the pre-sale, the number of AirTokens purchased will be reduced by a factor of 100. You still have the same percentage of the total AirToken supply as before. For example, if you already purchased 4 billion (4,000,000,000) AIR out of 150 billion total token supply in the presale, you will now receive 40 million (40,000,000) AIR out of 1.5 billion total token supply. In both situations, you still receive 2.67% of the total AirToken supply.

In summary, we are decreasing the total AirToken supply in order to benefit exchanges and token holders. This will only make the AirToken stronger and more successful going forward.

Basic Attention Token market listing

For example, the Basic Attention Token (BAT) is currently worth approximately 18.79 cents per token, and the conversion to BTC is 0.00004784 BTC per BAT. If there were 100x more BAT, then each token would be worth 0.1879 cents and the conversion would be 0.00000048 BTC per BAT. If the market cap fell lower, it would no longer fit within 8 decimal places on exchanges. This is why we are reducing the AirToken total supply from 150 billion to 1.5 billion tokens — so we can ensure support for the AirToken on exchanges and increase the value of each individual AirToken.

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