Grain processes work agreements on the blockchain and has an instant payment mechanism. It helps companies save billions of euros/dollars annually in middleman services and payment processing costs.
What makes Grain different from other labor-related projects?
Unlike competing projects, Grain is not a marketplace to connect employers with workers. Grain is a back-end solution that transaction partners use to process work agreements.
What are transaction partners?
Transaction partners are companies that use the technical infrastructure Grain provides to process work agreements and automatically process payment. The transaction partners will be the ones interacting and connecting workers and employees. Typically, the best type of transaction partners for Grain are companies that process a lot of work agreements. Think of freelance platforms (like Upwork or freelancer.com), staffing or temporary work agencies, job portals, etc.
Does the Grain protocol have any aspects that make it unique?
1) Both employers and workers are protected against possible volatility of the value of Grain: - Cryptocurrencies are by default volatile, but it would be unfair if a worker’s compensation gets affected by that - The solution: A liquidity insurance that's built into Grain 2) Grain lets participants of the ecosystem share in the success of the platform: - When the liquidity insurance collects a profit as the value of Grain increases, this profit will be distributed amongst everyone (workers and employers) 3) Grain has a mechanism that allows workers to automatically build up a “piggy bank” as part of each transaction. - This mechanism can be used for pension funds, 401Ks, etc. that a lot of companies already provide for their employees - If this piggy bank contains Grain, it’s an automatic investment that pays off handsomely when the value of Grain increases
Is there a working product?
The Grain infrastructure is currently being tested by the first transaction partner, Flexentral, in private beta. A public beta is set to go live in Q2 2018.
Token sale & Token
When will the GRAIN token sale start and end?
April 16th, and will run until May 7th.
Was there a private sale before the token sale?
Yes. We had a €1 million seed round, and a friends and family round of €500.000.
What is the soft and hard cap?
The soft cap is 4000 ETH, and the hard cap is 40000 ETH.
How many GRAIN tokens are there?
In total, there are 3.600.000.000 GRAIN tokens.
How many tokens will be issued during the token sale?
During the token sale, 30% of the total supply (1.080.000.000 tokens) will be sold.
What are you doing with the tokens that are not part of the sale?
The tokens not part of the public sale will be distributed in the following manner: - GRAIN Foundation (24% of the total supply) to ensure steady growth and a sustainable ecosystem. - The Escrow fund (25% of the total supply) is also managed by the Foundation and is in place to tackle exchange rate fluctuations during the duration of work agreements. - The Founding team of GRAIN is rewarded with a part of the tokens (5% of the total supply). - For the Bounty Program, 1% of the tokens is reserved - The last part of the tokens is reserved for Advisors / Partnerships (15% of the total supply).
Is the GRAIN token ERC20 compliant?
Yes, it is an ERC20-compatible token.
How do I store GRAIN tokens?
Because GRAIN is an ERC20 token, the tokens you purchased can be held in any ERC20 compatible wallet (like MyEtherWallet).
Can everyone participate in the token sale?
The token sale is closed for residents of Bosnia and Herzegovina, China, Cuba, Ethiopia, Iran, Iraq, Nigeria, North Korea, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Ukraine - Crimea region, United States, Vanuatu and Yemen.
Is there a KYC requirement during the token sale?
Yes. You will have to provide us with your name, phone number, address, nationality, country of residence and a copy of your ID/passport.
When will the tokens be released?
In April 2018.
Will Grain be listed on exchanges?
Yes. After the token sale, we will announce which exchanges the GRAIN token will be listed on.
Are team tokens vested? For how long?
Yes, 6 months, after which they receive the first 10%. With an additional 10% each extra month.
What’s the price of a GRAIN token?
The price of a GRAIN token is 0.000037 ETH. (1 ETH = 27000 GRAIN)
What form of payment can I use during the token sale?
We accept ETH.
How can I participate in the token sale?
Use any of the following wallets to send ETH to our ICO contract: - MyEtherWallet (no download needed) - MetaMask (Firefox and Chrome browser addon) - Mist (Desktop) - Parity (Desktop) - imToken (iPhone/Android) Please don’t send ETH directly from a cryptocurrency exchange.
What is the ETH address I should contribute to?
The address will be published on your token sale account.
What is the minimum amount of ETH to invest?
The minimum is 0.5 ETH.
Is there a maximum that I can invest during the token sale?
Yes, there is a limit of 100ETH.
Can I return the tokens and get my money back if I change my mind?
No, all sales of GRAIN tokens are final. We can’t provide a refund.