MobileGo Defines How to Calculate MGO Tokens

Jayanand Sagar | August 7, 2017 | 5:30 pm
NewsBTC

MobileGo Defines How to Calculate MGO Tokens

Jayanand Sagar | August 7, 2017 | 5:30 pm

MobileGo, the first cryptocurrency mobile gaming platform, successfully held its ICO in May 2017 and is now open for trading over the exchanges. Since the end of the ICO, investors have been raising questions about how to calculate the MobileGo token allocations. Realizing the little bit complexity involved, MobileGo came up with its own release, defining the calculation of MGO tokens.

Things to Understand

In the ICO, around 70 million MGO tokens were sold. It implies that 70 million tokens are to be distributed among all participants. If any investor made deposits, he or she will get a portion of this 70 million MGO tokens.  In addition, there are various discount levels announced by the company. The first week’s investor availed 15% discounts, along with an additional 7% discount for GAME. The second week’s investors gained 10% discount, the third week’s 5% and fourth week 0%.

Discounts were traditionally associated with an original set price, and then decreased. For instance, a shirt is $100, is discounted 15%, now its discount price is now $85. However, there is no original price set in MGO crowdsale. Hence MGO discounts are weighted into investor’s investment total.

MGO Discounts & Investor’s Deposits

MGO discounts are weighted against the investor’s total USD value at the time of his deposits.

Following is one of the examples given by the company, to let users understand how this allocation works.

Example for MGO Tokens Calculation

Investor A:  He is investing $1 million USD of ETH in week 1 (entitled to 15% discount)

Investor B:  He is investing $1 million USD of BTC in week 4 (entitled to 0% discount)

Total investment in crowdsale is $2 million USD

  • Allocation will be calculated as follows:

Since investor A invested $1 million and got 15% weighted bonus/discount, his $1 million will be weighted to $1.15 million.

Since investor B invested $1 million and got 0% weighted bonus/discount, his $1 million will be weighted to $1 million.

These weighted totals will be added together for a total of $2.15 million USD (weighted).

2.15 million is to be divided by 70 million MGO tokens to determine the weighted price per MGO i.e.

2.15/70 = $0.0307 per MGO token

This base price of the MGO token can be taken to calculate the amount Investor A and Investor B will receive.

Investor A invested a weighted total of $1.15 million = $1.15/$0.0307 = 37.4 Million MGO

Investor B invested a weighted total of $1 million = $1/$0.0307 = 32.6 Million MGO

37.4 million + 32.6 million = 70 million MGO

Based on this simple example case, investors can determine MGO allocations’ calculations in different situations.

To know more about MobileGo platform and MGO tokens, please visit https://mobilego.io/

   

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