Introducing LOCK token


REMOTE CRYPTO KEY CUSTODY AND DIGITAL ASSET SECURITY SUITE BY GOLDILOCK






TOKEN SUPPLY AND UTILITY


Goldilock will be minting a total supply of 1 Billion LOCK tokens as part of contract deployment on the NEO Blockchain. No additional LOCK tokens will be minted for use on the platform. Each storage node requires a token to operate, meaning the limited circulating supply of tokens reduces each time we add live nodes to the ecosystem. With some of the institutions who anticipate signing up for this service, their requirement is for many millions of nodes.



LOCK token functions as both a gateway and auditing mechanism. When the user is granted access using LOCK verification functionality, the node will write audit information to our own Private Audit Blockchain. These audit entries will ensure that every time your private key is brought online, this access is written to immutable storage that can be queried and viewed from the Goldilock Wallet.

In sum, LOCK token allows Goldilock to provide users with a ledger of their node activity, while keeping user-owned data encrypted and locked away from everyone including the Goldilock team.

Allocation of the LOCK tokens will be as follows:

token allocation graph

To preserve the project and protect token sale contributors there will be a mandatory six (6) month moratorium on selling LOCK Tokens for all founders and advisors. These policies will be built into the smart contract for total transparency. Bonus tokens for Presale participants will be allocated 1/3 each month for 3 months after close of the public sale.




Use of Proceeds

Proceeds from the token sale will fund continuing company operations including the scaled manufacture of hardware nodes, segregated racks and physical vaulting, with the intention to allocate funds as follows:

SALE STRUCTURE


The sale of LOCK tokens will be performed in two stages. An initial presale phase will provide an opportunity for participants to receive bonus tokens in exchange for larger LOCK token purchases. A second public sale phase will have lower minimum purchase limits to ensure that the entire Goldilock community is able to participate in the LOCK token offering.

PRESALE STRUCTURE

Presale stage will be available for purchase with minimum contribution level of $500 up to maximum contribution of $100,000, with token bonuses to be announced prior to the sale. The first 50 presale stage participants who complete a purchase will be allocated a Goldilock node1 with a free subscription for the first 12 months of use. Additional stage participants will be first on the waiting list for allocation of nodes when they become available. Bonus tokens for Presale participants will be announced prior to sale, and will be allocated 1/3 each month for 3 months after close of the public sale. Goldilock will announce the dates of the opening of its Presale KYC whitelist registration, in which purchasers will be able to provide KYC information and commit to the amount of LOCK token they wish to purchase. Goldilock will complete an audit of the whitelist participants and their related documents, and will announce approved purchasers, whereupon the actual sale will take place via smart contract.

PUBLIC SALE STRUCTURE

Our Public Sale will begin at the conclusion of our Presale. Goldilock will announce the dates of the opening of its public sale KYC whitelist registration, in which purchasers will be able to provide KYC information and commit to the amount of token they wish to purchase. Goldilock will complete audit of the whitelist participants and their related documents, and will announce approved purchasers, after which time the sale will be launched and available for a limited time period. Public sale participants will be given preferential treatment on the waiting list for subscriptive allocation of storage nodes, following distribution to presale participants

JURISDICTION AND DISCLAIMER

We are working with the Monetary Authority of Malta to be compliant with regulators.





WHY NEO


Goldilock chose the NEO network for the LOCK token due to our alignment with their vision and philosophy on the future of blockchain. Their focus on Governance and Compliance, Digital Assets, Digital Identity, and Smart Contracts provide a solid base for the Goldilock Security Suite. In addition, their investment in ecosystem and community ensure that NEO will be able to meet the needs of its developers and consumers as the platform evolves.




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