PARKGENE Roadshow Update – February 9, 2018

PARKGENE CEO, Ilias Hatzis and CFO Nikolas Skarlatos have been participating in several events around the world bringing the PARKGENE ICO to the Crypto community.

They visited Crypto Economy ICO 2018 in London, Crypto Economy ICO 2018 in Amsterdam, d10e in the Cayman Islands, 2nd Blockchain Middle East Forum in Dubai, and will be visiting several more until the end of the ICO and beyond.

The purpose of these trips has been to meet with interested parties and introduce PARKGENE to the ICO and Crypto communities. The PARKGENE executives met with Fund Managers, with partners we work with, with opinion leaders in the crypto space, with media, and with PARKGENE backers. They participated in presentations, workshops, panel discussions on legal, marketing, valuation etc.

They also participated in Post ICO panel discussions, met with several exchanges and participated in several networking events.

So far, the PARKGENE roadshow has been very productive and useful. We will let you know more about the PARKGENE roadshow as it continues.

How PARKGENE Works

PARKGENE is a game-changer in shared Mobility services, with a vision to establish the GENE token as the automotive industry standard means of payment.

Drivers looking for a parking spot meet virtually with parking owners through the PARKGENE app. The following diagram shows the different stages of a parking session completed on the PARKGENE platform and over the Ethereum Blockchain with smart contracts.
Once a driver reserves a parking spot, the reservation triggers the PARKGENE smart contract on the Ethereum Public Blockchain.

PARKGENE GENE token flow

The PARKGENE App transfers the full parking fee amount in GENEs from the driver wallet, to a depository (a temporary wallet). Should there not be enough GENEs balance in the driver’s wallet, the driver can use his credit card or other means of payment (Bitcoins, Ethers) to buy GENEs real-time and pay for the transaction.

The successful reservation and payment provide additional App functionality to drivers and parking owners which is needed for the completion of the actual parking session. For example, the driver will have the ability to open the garage door from his mobile phone, while the parking owner is notified and monitors – in live video – the entrance and exit of the vehicle. This functionality is optional – although very helpful – and is achieved through integration of PARKGENE platform with existing remote access tools that are available in the market, or a specific device that PARKGENE will offer to the Parking Space owners at very low cost.

At the end of a successful transaction the parties conclude a smart contract on Ethereum, with the entry and its confirmation on the blockchain.

The parking space owners receive, from the depository to their wallet, 70-80% of smart contract in GENE tokens, when drivers check out of the parking space. The remaining: • 5% of the total amount is paid to the driver and parking space owner as they perform several actions that enhance the ecosystem (e.g. Ratings, Reviews). • 10-20% of the total amount is paid to PARKGENE to cover operational, development, cloud services and advertising costs.

At any time, the users of the platform can buy or sell GENE tokens for FIAT currency (USD, EUR, JPY, CNY, etc.) or other cryptocurrency (BTC, ETH, etc) by using several cryptocurrency exchange services that may trade the GENE token (if and once GENEs may be available at such exchanges).

Click HERE to participate in the PARKGENE ICO

Cryptocurrency Volatility Protection for GENE Token Buyers

SINGAPORE, ATHENS, LONDON. Thursday January 25, 2018

PARKGENE announced today that it offers downside and upside protection against cryptocurrency volatility for GENE token holders.

 

“Having listened to our community’s concerns regarding the volatility of their cryptocurrency positions, we have decided to help alleviate the concerns of crypto appreciating or depreciating during the course of our ICO, offering guaranteed protections, both in the upside as well as the downside”, said Nikolas Skarlatos, CFO of PARKGENE.

The Volatility Protection scheme is further detailed below with the following two protections offered:

 

  1. Up to 20% upside guaranteed

If the digital asset exchanged for tokens appreciates, the token holder will get extra tokens up to 20% of the upside.

 

  1. Downside protection against any downside risk

If you have purchased GENE tokens using cryptocurrency, we will lock the number of tokens against the crypto price at the time of the purchase.

 

 

More specifically, below you can find the upside-protection level based on participation:

Participation Value   Upside Price Protection
$2,000 – $5,000 10%
$5,001 – $10,000 15%
$10,001 + 20%

 

If the digital asset exchanged for the tokens appreciates, the token holder will be able to benefit from this as his tokens will be recalculated up to a certain percentage based on volume (see table above).

Please note:

  • These recalculations will only involve the tokens allocated from the sale transaction. The adjustment does not apply to bonus tokens.
  • Recalculations are made daily (for reference) and the final calculations will take place on February 19, 2018 or at any point that our hard cap is reached and the ICO is sold-out.

To better understand how the Volatility Protection works please see the examples below:

Example 1: You’ve purchased 95,000 GENE with 1 BTC at $9,500 USD/BTC. At the end of the ICO, BTC has appreciated to $13,000 (a 36.8% appreciation) you will receive 15% more tokens. (14,250 additional tokens)

Example 2: You’ve purchased 95,000 GENE with 1 BTC at $9,500 USD/BTC. At the end of the ICO, BTC has fallen to $7,000 (a 26.3% depreciation) your purchase is not affected by the price decline

Example 3: You’ve purchased 95,000 GENE with 1 BTC at $9,500 USD/BTC. At the end of the ICO 1 BTC has appreciated to $10,500 (a 10.52% appreciation) you will receive 10.52% more tokens (9,994 additional tokens)

 

PARKGENE ICO Now Accepting PayPal Payments

The PARKGENE ICO has successfully completed its closed round and is on its second week of the ICO. To-date, more than 48 million GENE tokens have been sold. We are happy to announce that we are well on our way of reaching our 60 million token milestone and the PARKGENE community is growing at a rapid pace.

During this period, we have been in close touch with the community and very responsive in answering questions and addressing member concerns and recommendations.

Responding to many of our community members, who are interested in PARKGENE, but are very new to the crypto world, apart from accepting FIAT payments via wire transfer, we decided to also accept payments via PayPal.

Now anyone can buy GENE Tokens online and in real time, via PayPal connected bank accounts or credit/debit cards.

Click HERE to buy GENE tokens using PayPal