SupplyBloc FAQ

What is SupplyBloc Technology and what problem does it solve?

SupplyBloc was founded with the mission of solving the greatest problems that business face in the global commerce and e-commerce, namely those involved with supply-chain management. The most poignant issues in supply-chains today involve a lack of transparency, the absence of proper tracking capabilities, and fragmented systems for managing logistics, transactions, and other forms of multi-node interactions.

Our solution rests on a foundation of blockchain technology and involves data-registration on a decentralized ledger, smart contracts for optimizing transactions and exchanges, and software development tools for creating customizable user-facing applications.

What is an ICO?

An ICO (Initial Coin Offering) for the utility tokens, which represent services or units of services, is a way to fund projects of shared infrastructure. In an ICO, issued cryptocurrency (tokens) is sold in exchange for other cryptocurrencies or fiat money.

Can US citizens participate in this ICO?

Yes! After a careful legal analysis by a U.S. licensed attorney, it has been concluded that SupplyBloc (SUPX) is a utility token and not a security, so we have been able to open up to U.S. contributors.

What would you consider to be a success with this ICO?

We will consider this ICO as successful if we reach our soft cap equal to 1 million USD. If we do not attain this minimum threshold, all collected funds will be returned to token purchasers. We have set a maximum amount of 40 Million USD, in which case over half of the tokens will be distributed to token purchasers. We are aiming to spread our project throughout the world, but our plan is to start in the USA.

What is the timeframe of the ICO?

The pre-STO sale starts on May 15 2018 and ends June 15 2018.
The main public sale begins on August 1 2018 and will be held until September 1 2018. The sale will terminate early if we reach our maximum limit.

Can I trade SUPX tokens at an exchange?

We plan to list the SUPX tokens on all reputable token exchange platforms. However, there is no guarantee of liquidity. There is no guarantee that you will be able to sell tokens for a price equal to or greater than purchasing price.

How can I purchase SUPX tokens?

For full instruction on how to purchase SUPX tokens click here.

When can I sell tokens?

After the STO, you will be able to sell SUPX tokens once they become of no utility to you. We plan to sell them on token exchanges that are designed specifically for utility tokens. However, there is no guarantee of liquidity as well as there is no guarantee that you will be able to sell it for a price equal to or greater than the price that it was purchased.

What separates SupplyBloc from competitors?

SupplyBloc is focusing on providing small to mid-sized businesses with the power of blockchain technology in an effort to level the playing field through supply chain optimizations. Unlike many projects in this space, SupplyBloc is a tokenized platform that is offering both turnkey solutions and application development tools (API, SDKs).

Our solution is meant to coalesce with existing operational systems and will tie together individual participants within a single supply chain. So, each entity can maintain operational control while still having the opportunity to create efficiencies wherever they please. This allows partners to hand-pick the areas of concern that they wish to apply SupplyBloc’s solution to.

What happens to unsold tokens during the presale?

They will be stored in our reserve account and used for bonuses within the SupplyBloc Ecosystem.

How many members are on your team?

We have over 20 experienced team members and advisors, with extensive experience in blockchain technology, e-commerce, marketing, supply- chain management, software development, and in many more areas.

Is there a minimum purchase amount?

The minimum purchase amount is equal to 1000 SUPX Tokens

What is the role of the SUPX token?

In the SupplyBloc ecosystem, multiple rewards will exist in the form of SUPX tokens only. Furthermore, SUPX tokens will also serve as one of the accepted method of payments on the platform. SupplyBloc will eventually roll out acceptance of SUPX tokens as a means for payment on the auxiliary platforms of SupplyBloc partners and other service providers.

SUPX transactions will be fast, efficient, and highly secure. This will ensure optimized and transparent exchanges across borders that will ultimately save money and time for all parties involved.

What is the price for tokens during ICO?

There will be 5 purchase rounds. Each round will have a different Token purchase price.

Round 1. 1 SUPX Token=0.18 USD
Round 2. 1 SUPX Token=0.21 USD
Round 3. 1 SUPX Token=0.24 USD
Round 4. 1 SUPX Token=0.27 USD
Round 5. 1 SUPX Token=0.30 USD

How is blockchain technology implemented in your solution?

SupplyBloc is positioned to be the self-sustaining IT infrastructure relying on the network of nodes run by the participants of the supply-chain process. This creates an ecosystem in which all participants have an equal say in the functionality of the system and can democratically determine how their implementation of the blockchain will function on their individual supply-chain.

Who are your users?

Technology Developers, Growers, Manufacturers, Distributors, Wholesalers, Transportation Service Providers, Regulatory Agencies, Retailers, and Consumers.

How can I purchase SUPX Tokens during STO?

It will be possible to make a purchase with Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC). You will need to have these coins readily available in a non-exchange wallet.

Why can’t I make a purchase through the exchange wallet?

You can’t complete a purchase through the exchange wallet as your tokens will be sent to the address you bought from. THIS IS NOT POSSIBLE WITH EXCHANGE WALLETS. We have a few wallet recommendations that you find here.

Have you made an airdrop?

We have decided to coordinate an airdrop to increase community engagement and participation across our various social media channels and networks.