A Decentralised Platform For Gaming v1.5.3
Contents page p2 Introduction 1. Title Page 2. Contents Page 3. Abstract 4. Abstract The gaming industry 5. Current state of the market 6. Problems with gaming industry 7. Problems with gaming industry Ethereum 8. Why ethereum? 9. Why ethereum? Squid Networks 10. Squid steps in 11. Diagram of platform and basic structure 12. Explanation of the diagram 13. App Platform Concept Benefits 14. 15. 16. Benefits for game developers Benefits for gamers Mutual benefits Details of the Network 17. Possible problems 18. System description and terms 19. Economics of the network 20. Squid Token Sale 21. Hard & soft cap 22. Token distribution 23. Diagram of payments and everyone involved 24. How are we going to pay everyone? 25. POG 26. SquidProvel 27. Road map 28. Road map 29. Road map 30. Security and Wallets Team & Conclusion 31. Team 32. Team 33. Team 34. Team 35. Advisors 36. What are we going to do with the funds? 37. Contact & Customer Service 38. Disclaimer 2
Abstract p3 Video games were introduced in the 1970 s with the first commercial arcade video game being produced in 1971. Since then, the gaming industry has seen exponential growth. In more recent years with the advent of smartphones, the mobile gaming industry has taken over a large portion of the gaming market and is continuously growing. Mobile gaming has changed the direction of the way in which people game, much like the way the blockchain will change the way we conduct many aspects of our life. Fig 1. shows the continuous upward trend in mobile gaming growth. Over the last 10 years the mobile gaming industry has seen rapid growth, growing from the smallest sector of gaming and is now predicted to be second largest by 2019. source: https://dazeinfo.com/wp-content/uploads/2015/03/open-gaming-alliancechart-2015-report.png 3
Abstract The main focus of Squid Networks is to merge gaming with the blockchain to create a superior gaming platform enabling players to earn while gaming, whilst also benefiting the game developers. The blockchain has already begun to revolutionize many markets (to name a few; insurance, health and energy) and with the gaming industry on the front line of innovation and new technology, we strive to turn this possibility into a reality through the Squid Networks platform. 4
Current State of Gaming Market What is the current state of the market and where is it heading? There were 2.2 billion gamers spread across the world in 2017 who were expected to generate 77.5 billion( $108.9 billion) in game revenues, which is an increase of 5.5 billion ( $7.8 billion) on the prior year. The Mobile gaming market is the most lucrative of the gaming markets, with smartphone and tablet gaming worth almost 33 billion ($46.1 billion), claiming 42% of the market. By 2020, the mobile gaming market is expected to represent over half of the entire games market. In comparison, the PC and console game markets will generate 20.1 billion ($29.4 billion) and 24.9 billion ( $33.5 billion) respectively in 2017. Source: https://newzoo.com/insights/articles/the-global-games-market-will-reach-1 08-9-billion-in-2017-with-mobile-taking-42 What already exists like us & why are we different? There are currently other ICOs providing solutions for gaming on the blockchain. Squid Networks is unique in the sense that the platform will be community-driven. For example the community will decide what content enters the platform, and will have all gaming statistics available to allow for friendly competition between friends. Furthermore, we differ from other gaming platforms as they either have high joining fees or are flooded with games, making it hard for the games people like to be found. As well as this, other platforms take large commissions (up to 30%) where as Squid Networks will only take what they need to fund the community support team, which we estimate will be less than 5%. Most importantly, there is no other platform that pays users to play games through their platform. 5
Problems with gaming industry p6 Problem: The current business model revolves around ads which contribute towards the profitability of game developers. These ads are unwished-for by the gamers and can impair their experience. Solution: By moving the industry to the blockchain, there will be a lesser need for ads. Game developers will be compensated for this by receiving 3% of all coins mined by gamers in their games. This in turn contributes to the upkeep of the ecosystem. Problem: To be featured on other gaming platforms, game developers must pay constant fees of up to 30% on sales. This is not a feasible solution for small time developers and these sort of deals normally benefit the platform more than the gamers and developers. Solution: Squid Networks will only take what it needs to maintain the platform. This will be significantly less than other competing platforms as they profit from their share, whereas Squid Networks will use the funds gathered to improve the services for our users. 6
Problem: All other gaming platforms either have high joining fees ( such as one time costs to review your game on entry) which do not always result in entry to the platform, or they have no filter allowing the platform to be spammed with low quality games. Solution: By having no joining fees we remove barriers to entry into the gaming market and allow anyone (who is verified) to become an active part of the Squid Network. Where we are focusing our efforts? The gaming industry is an ever-changing market where it is hard to make a long lasting impression. The mobile gaming market is no exception, with games constantly coming into the spotlight and leaving just as quick as they arrived. Squid Networks will revolutionise the current gaming industry by merging old and new content into one platform where Squid tokens can be earned regardless of gaming preferences. 7
Why Ethereum? Ethereum is a second generation blockchain which can be thought of as Bitcoin 2.0. It trumps the Bitcoin blockchain in many different ways, the most significant of which being the deployability of smart contracts and use of the ERC20 token which has in itself revolutionised the way in which cryptocurrencies are handled and traded. What is an ERC20 token? ERC stands for Ethereum Request for Comments. '20 is the unique proposal ID number. For a token to be ERC20 compliant it must meet all ERC20 rules. These tokens are blockchain assets that can have value and can be sent and received, like any other cryptocurrency. The main difference between ERC20 tokens and other cryptocurrencies is that ERC20 tokens reside on the Ethereum network, hosted by an Ethereum address and sent via an Ethereum transaction. More info about ERC20 and Ethereum as a whole can be found here: https://en.wikipedia.org/wiki/ethereum. There are several platforms upon which the Squid token could have been designed on. After careful consideration the team decided the the Ethereum blockchain would be most suited to our token. Reasons: Most widely used blockchain for developing tokens which allows us to interact with the largest market. DAPPs - the Ethereum network is the only one that meets the requirements of the Squid team in terms of accessibility and recognition, to provide suitable access to a DAPP. For more information on DAPPs, https://blog.bitnation.co/what-are-dapps/ provides a detailed breakdown. 8
Production ready- the Squid Token can be stored, managed and effectively distributed to a large audience using smart contracts. Faith in the Ethereum Project - before Squid Networks, many of the members of the team were ( and still are) blockchain enthusiasts. We do not endorse Ethereum, we simply trust that it is the most reliable and sustainable blockchain compared to others in the market. Ethereum is one of the easiest cryptocurrencies to purchase For information on how to purchase Ethereum go to: https://99bitcoins.com/guide-buy-ether-ethereum/ 9
Squid steps in Our goal The ultimate aim of Squid Networks is to create a self sustaining ecosystem within which players can play the favourite games whilst earning Squid tokens doing so. We feel having a fully community-driven platform is essential to the long term success of Squid Networks which is why we are putting the gamers at the heart of our project. What are we going to do? Squid Networks is a UK based firm which focuses on all genres of the gaming market. With the exponential growth of the mobile gaming market, we feel this sector is what requires the most attention in order to advance the gaming industry as a whole. In other words we believe that mobile gaming will be the first sector use the blockchain, followed by every other single form of gaming including virtual reality and console gaming. Squid Networks will offer many features including a combination of early access, F2P and P2P games. Eventually the P2P games and in-app microtransactions will be purchasable with the Squid token which is the native token of the Squid Network. As the development of Squid Networks continues, other features may also be developed for the benefit of the gamers and developers. Squid Networks is a decentralised platform for gamers. This means there is no single party that fully runs the network. Squid Networks only provides a platform for gamers and developers to interact, therefore the network is maintained by gamers, developers and the team. At the point we ourselves feel the network is at a self-sustainable level, the community will be the primary maintainers of Squid Networks, with the game developers also having there fair say in the upkeep of the network. 10
Diagram of platform structure and basic services The diagram above is a general outline of the Squid Networks platform, interlinking developers and gamers whilst also showing the relevant forces necessary to ensure this is successful. 11
Explanation of diagram At the core of Squid Networks are the gamers themselves, what we feel is the most important aspect of the entire structure. Whilst playing games, gamers mine Squid tokens which maintains the network as well as contributes to the profits of developers. The gamers do so when playing on any game on the platform. The POG algorithm is what determines how many Squid Tokens (SQWD) are mined. For more info on mining, have a look at this link. https://www.benzinga.com/general/education/17/08/9953629/cryptocurrency-minin g-what-it-is-how-it-works-and-whos-making-money- The game developers must implement the Squid API into their game in order to record and then send the statistics required by the POG smart contract which is in charge of distributing the rewards (SQWD tokens). The SQWD tokens are taken from the reward bank- the unmined tokens which are reserved for in game actions on the Squid Networks and account for 80% of the total supply of SQWD tokens. 97% of the coins mined by the gamer are sent to the gamers Squid Wallet. The remaining 3% of tokens are sent to the developers as a reward for participating in Squid Networks. The wallet and web app are currently being developed by the team along with refinement of the POG algorithm and token with the final versions being released on the day the token sale begins. This means the reward bank will also come into existence on the day of the release of the SQWD Token. Details of this can be found on our website. https://www.squidnetworks.io/token.html Development of the Mobile App and API will begin as the Whitelisted pre-sale comes to a end. 12
App Platform Concept 13
Benefits of Squid Benefits to Game Developers 3% of all tokens mined by gamers will be sent to the game developers which will help maintain the ecosystem. Developers will have access to live statistics and reports about all aspects of their game within our platform which will aid the developers in making more relevant decisions about how to improve their services. Developers will receive increased exposure through the Squid Networks platform. This will bring a new audience to their game and increase overall revenue. SquidProvel requires no sign-up fees from developers to be able to become a part of the network, thereby giving these developers publicity for their games without the need of a large publishing company. The only thing stopping the developers from publishing their game is the quality of their game, which is judged by the community. 14
Benefits of Squid Benefits to gamers The main benefit to gamers is our unique POG algorithm which allows gamers to earn whilst gaming. This provides a financial reward and an incentive to participate in the network. The Squid community will play a vital role in the guiding of the development of the Network as a whole, making Squid Networks a truly community-driven project. As we expand and improve our platform by updating and adding developers to our platform, the user base (gamers) will increase resulting in a higher demand for Squid Tokens. As a consequence of this, the value of the Squid Token will rise. Whilst gaming, gamers will progress though the leveling system unlocking new cosmetic emblems to add to their profile. 15
Mutual benefits of the Squid Network We will empower our users by moving the gaming industry onto the blockchain as money can be diverted away from the companies that have monopolised the gaming market. This causes games to be over priced and services are not improved as frequently as they should be. By moving the industry onto the blockchain there will also be increased transparency between developers and gamers in terms of statistics and transactions so there is nothing to hide. This creates more trust and will ultimately lead to a more efficient and coherent market. Squid Tokens will be exchangeable for other cryptocurrencies and Fiat in the future. This will be made possible by listing our coin on exchange websites. Once Squid Networks is at the self-sustainable stage of its development, the gamers and developers will play an increasing role in the upkeep of the system, moving it towards becoming a fully decentralized platform unlike anything platform in existence today. Accessibility- the Squid Networks platform will have a user-friendly interface for both gamers and developers allowing them to have the best possible experience within the platform. 16
What problems could we encounter? By removing all barriers to entry of the gaming market through our platform, it is inevitable that low quality games will try to gain traction through Squid Networks, which would in turn makes it harder for better games to be found. This is resolved by SquidProvel which allows the community to control which content enters the site through a voting system. However only verified users who meet a certain criteria will be able to vote, which ensures that no spam accounts are created to try and push a low-quality game on to our platform. Not selling all the tokens in pre-sale and crowdsale would reduce the value of the Squid Token. This is overcome through the burning of Squid tokens which ensures only tokens that have been sold are in circulation. Scalability is one of the biggest problems facing the blockchain and cryptocurrencies at the minute, as the demand grows systems fail to cope with the increased pressure. Squid Networks will utilize microtransactions to match the growth of the platform. What happens when the tokens run out? There is a finite supply of Squid Tokens which mean one day there will be no more tokens left to mine. This may be seen as a problem to some people. However as with any other finite product i.e Bitcoin, as demand increases so does the value, although the profitability of mining coins is not designed to increase. This is solved by pegging the profitability of mining to a fixed number to ensure it remains constant, however the real value of the token still rises with demand. 17
System description and terms Keyword Function Proof of gaming (POG) Squid Networks unique algorithm which calculates how many tokens are earned and distributes them accordingly SquidProvel A voting system where gamers vote for which games enter the Squid Networks Platform Token burning Where Squid tokens not sold are removed from the network to ensure a representative price ERC 20 The Ethereum token standard used by SQWD tokens F2P & P2P Free the play & pay to play Squid Token The fuel used to power the Squid Networks Platform mining Originally means the extraction of valuable minerals from the earth. In crypto terms, this just means the process by which transactions are verified and added to the public ledger 18
Economics of the network 500,000,000 Squid tokens will be created as ERC20 tokens. 80% (400,000,000) of these tokens will remain in the POG smart contract until the network itself is fully functioning. These tokens will then be distributed to the gamers by measuring game time and activity which then produces the reward amount for gamers accordingly. The other 20% will be primarily sold in the token sales with some tokens reserved for the team and game developers. More details of this can be found on the next page. The Ecosystem: Initially, we have the Squid Platform itself; this is where games are listed and players can earn for playing these games. SquidProvel decides which games can enter the platform, this will utilize a voting system allowing the gamers to control the platforms content These two aspects, along with the implementation of Proof of Gaming, will ensure a constant flow of Squid Tokens which in turn will sustain the ecosystem of the network for the foreseeable future. 19
Squid Token Sale All in all there will be 3 token sale: A whitelisted presale, a presale and a crowdsale. Between the 3 token sales, 90 million tokens will be on sale, including the bonuses. Excluding the bonuses, 73.545 million tokens will be up for sale. Currently we are only accepting ETH in exchange for SQWD. This is subject to change during the presale and crowdsale and will likely include BTC, LTC and WAVES. Token Price: The 73.545 million tokens are valued at 15,000 ETH. At the time of publishing this is valued at 5.4 million Therefore the base rate of each individual token is valued at approx. 0.07. The bonuses in each round will be applied to the base rate to ensure the real value of the token does not change whilst in the sale period. Only the bonus will change and will decrease in each round of token sale. Soft cap 3750 ETH Hard cap: 15,000 ETH Whitelisted Presale Start date: TBA End date: TBA 20
Token distribution - soft cap and hard cap Tokens will be distributed to the appropriate Ethereum address immediately after purchase. Soft Cap The soft cap is 3750 ETH which is what the Squid Networks team has calculated to be sufficient funds to complete the development of network in the time frame we have set for ourselves. If this target is not met then it is possible that the development of the network will run past the deadline (Q1 2019). The effect of the soft cap not being met is dependant on how many tokens are sold. I.e If 3700 ETH is raised, then the development of the network is not going to be significantly affected. However if only 750 ETH is raised, then users should expect the development of Squid Networks to be prolonged. Hard Cap The hard cap is the total value of the tokens that will be sold. If the hard cap is met, Squid Networks will be able to meet its deadlines and potentially reduce the time it takes to fully develop the network and make it a global platform. In addition to this, by meeting the hard cap, we will be able to hire more team members and advisors which will further contribute to the development of Squid Networks. If the hard cap is not met, then all remaining tokens will burnt. 21
Token distribution This pie-chart represents the 20% of the tokens that remain unmined which is 100 million tokens in total. Public sale: 60 million total supply. 54.545 million sold with 10% bonus (5.455 million) Presale: 24 million tokens total supply. 16 million sold with 50% bonus (8 million) Reward Programmes: 8 million tokens Private sale: 6 million tokens total supply. 3 million sold with 100% bonus (3 million) Team: a small amount of tokens owned by the team which acts as an incentive for them to improve and contribute more to the network. Early game developers: 1 million. Early supports will receive a small bonus for their contributions to the development of Squid Networks. In total, 73,545,000 tokens will be sold and there will be 16,455,000 will be given out over the three sales in bonuses. 22
Diagram of payments and everyone involved The diagram above show the flow of data and tokens to the corresponding destinations within the network. This process begins by gamers using the Squid Networks platform to play their favourite games. Their gaming info is recorded by the POG smart contract which then shares this info with the smart contract of the reward bank. The value of tokens required is then calculated by the POG algorithm which receives the correct amount of tokens from the reward bank. When the tokens are back in the POG smart contract they are distributed between the gamer and the developer, with the gamer receiving 97% of the tokens they have mined in that specific session. The remaining 3% of tokens go to the corresponding game developers, which is also determined by the POG smart contract. This contributes to the profitability of the developers who also have opportunity to reinvest their tokens back into the platform, which would contribute to the self-sustainability of the ecosystem as well as further profitability for the developers through increased exposure as they help the platform to grow. Both the developers and gamers will have access to a Squid Wallet, which is connected to an Ethereum wallet on the Ethereum blockchain. This wallet will represent how many tokens are owned by each particular user of the network. These tokens are ERC20 tokens and can be sent to other wallets and in the future they will be spendable within the ecosystem and exchangeable for fiat or other cryptocurrencies on exchanges. 23
How are we going to pay everyone? The POG smart contract is what rewards gamers for their actions and distributes these rewards between gamers and developers however during the token sale, the Squid Token Sale Smart Contracts will be used. The first token sale will accept Ethereum only however we aim to accept more cryptocurrencies in the pre-sale and crowdsale such as BTC, LTC and WAVES. Once the contribution has been made, the Squid Token Sale Smart Contracts will distribute the Squid Tokens immediately. When the token sales have been completed, the POG smart contract will come into effect. This efficiently and automatically rewards gamers and allocates tokens accordingly. Token burning At the end of each token sale, any unsold remaining tokens will burnt. Token burning is necessary to ensure a stable price for the Squid Token and has the best interests of the gamers and developers in mind. 24
Proof Of Gaming What is POG? Proof of gaming is an algorithm run in a smart contract unique to Squid Networks, which allows the gamer to generate and earn Squid tokens form their actions on the platform. POG= session time x activity intensity / token circulation supply *This is a simplified version of the POG algorithm* Through POG, gamers can profit from their activities in app or on the website. This can be done through playing games or through SquidProvel. Whilst gaming, players contribute 3% of their total earnings to the game developers. POG will use live stats from the blockchain of how many gamers are on the platform to generate the information needed to collect and distribute tokens relative to the demand for SQWD. Proof of Gaming is an adapted concept of Satoshi s Proof of Work algorithm, where we substitute computational power for gaming actions. This requires a lot less computational power and gives similar results, making it an innovative and unique proof. 25
SquidProvel SquidProvel is a community-driven voting system which allows the Squid community to vote for what games enter the site. Each game developer will provide a short video which showcases their game and a brief description on what they re all about. From this, the gamers will then be able to make an informed decision on the game and either vote yes or no for the game to enter the platform. Once this trial phase has been completed, which will last for about a week, the ratings will be averaged out and games that attain a certain percentage of yes votes, will then be eligible to become full members of the Squid Networks Platform. This process puts the control in the hands of the gamers, how it should be, whilst also increasing competitiveness among game developers which is essential for developing new games and ideas which will make the Squid Networks ecosystem a more vibrant and diverse place for both developers and gamers alike. By having the gaming community decide what games enter the market, instead of this being decided by what game has the biggest marketing budget, we truly put the power in the hand of the gamers. This will lead to a more coherent market and a more unique bond being formed between the developers and gamers, as the developers would have earned their place among the community, rather than the community having the game being forced upon them through harsh marketing. 26
Roadmap Q1 2017 Basic idea of Squid Networks conceived. Research into current gaming platforms and alternatives began as well as research into the potential of blockchain and its use-cases. Q2 2017 3,000 raised for initial costs such as whitepaper translation, SSL badge website hosting, advertising, and video creation. Q3 2017 Development of token and token sale smart contracts began on the Ropsten test network. Research conducted into market & concepts are tested. Findings recorded in a draft whitepaper. Q4 2017 Website development of squidnetworks.io began. Q1 2018 Website published along with development of whitepaper version 1.0. Preparation for whitelisted pre-sale. SQUID NETWORKS LTD. is officially incorporated via companies house. 27
Q2 2018 Development of smart contract for SQWD token finished and put onto the Ethereum blockchain. Planning for advertisement prior to private sale. Team expansion to meet the growing needs of the network. Q3 2018 Private sale details sent out to all registered users. DAPP deployed ready for the pre-sale. Private sale at end of Q3. Q4 2018 Beta-testing phase will begin, helping to work out bugs and gather general feedback to improve before the public release of the network. Pre-sale commences. Q1 2019 Web and mobile app released. Public sale commences in second half of Q1 Further development into making our platform more refined and user-friendly. Q2 2019 The Squid Networks platform will be fully developed. The platform will be open to everyone and the POG algorithm will come into full effect. 28
Q3 2019 Bug fixing and updates based on community feedback, over the course of the start of the platform. Q4 2019 Squid Networks will be a global platform with millions of users as well as thousands of developers and partners. By the end of Q4 2019, the Network will be at the self-sustainable stage where the platform will be mainly operated by the gamers and developers. 29
Security & Wallets Here at Squid Networks security is taken very seriously. Our website is SSL secured which provides our users with top-level 256-bit encryption, to ensure entering details into our site is just as safe as entering details through online banking. When the in-platform Squid Wallet is fully developed, it too will be fully encrypted to ensure transactions between users are as safe as possible. When the platform is fully operational, no passwords or sensitive information will be kept server-side. Instead we will use hashing, so if someone does manage to hack into our database, they will find nothing but a useless strings, making the possibility of data being stolen almost impossible. 30
Team What is our motivation? Here at Squid Networks, we are firm believers that the blockchain is going to revolutionize the way in which we conduct many aspects our lives. Since the gaming industry is at the forefront of technology and innovation and as avid gamers ourselves, we feel the gaming industry will be the first of many industries to fully utilize the benefits of blockchain technology. Squid Networks is designed to bring this process around as quick as possible, for the benefit of the entire gaming & blockchain community. The Squid Networks team is comprised of highly motivated individuals who all share to common goal of making Squid Networks a fully functioning platform. Each member is passionate about the blockchain and/or gaming and possess a unique skill set which contributes to the development of the Squid Networks platform & ecosystem. All team members are subject to a vesting period within which they are not allowed full ownership of their tokens to ensure the safety of Squid Networks. Meet the team George Brookfield CEO A leader with a strategic mindset who is always ready to overcome any problems that the business encounters. With over 2 years experience in ICO research, investments and cryptocurrency mining, George also helped found Squid Networks and oversees all operations and business activities as well as being the main author of the whitepaper. Linkedin 31
Isaac Bosher CIO A programmer with over 5 years experience in languages such as C++, HTML, PHP and more recently, solidity. His passion for gaming and creative mind led to him to realise the value and potential of creating a community driven gaming platform. Isaac helped found Squid Networks and is the main developer of our website. His main role is to continue developing the idea as well as overseeing all technical aspects of the business. Linkedin Radd Seiger COO & CLO Bringing over 25 years of leadership experience, with business and leadership training at both Harvard Law and Business Schools in Cambridge Massachusetts USA and at The Judge Business School in Cambridge UK. A lawyer by background, he is highly strategic in his approach to running businesses and always tries to keep things real and simple in achieving the vision and goals. Radd s role is split between maintaining the legal aspects of the business and implementing the business plan. Linkedin 32
Luke Bosher CFO With a first class honours in Finance and Economics from Bournemouth University and almost 5 years experience in project management, Luke oversees all financial activity, although he is primarily focused on ensuring the smooth running of the business and keeping the team up to date and in contact with each other. Linkedin Sean Parsons Marketing Manager Sean s 4 years of experience in shop sales and 2 years in telecommunications has allowed him to develop a unique interest in the sale of technical products. Combine this with a life-long interest in gaming and this makes Sean perfect for a role in which his primary job is to organise and promote the sale of the Squid Token. Linkedin Aaron Peachy Market Analyst As an accountant with over 2 years experience, Aaron brings high quality analytical skills to the team which are complemented by both his passion for gaming and his research skills. This makes Aaron ideal for researching competition and coming up with innovative ways for us to improve and stand out from our competitors. Linkedin 33
Matt Girard Community Coordinator As a community manager for almost 5 years for gaming servers, Matt is highly experienced in working with community admin and social media. Matt s main role is to update and coordinate our social media platforms as well as upload content on to relevant forums and calendars. Linkedin 34
Advisors Naviin Kapoor Blockchain Consultant A blockchain consultant and a business transformation leader with more than eleven and half years of experience in project management and business analysis. Naviin has also attained various industry certifications and regularly carries out quality checks on various aspects of the Squid Networks project to help further our development. Linkedin Andrey Sergkennkov Marketing Consultant As a digital entrepreneur with more than 10 years experience, Andrey specialises in Russian Public Relations as well as having key connections for Russian marketing. He is our go-to-guy when it comes to marketing and PR advise in the crypto area as well as handling all Russian translations. Linkedin 35
What are we going to do with the funds Squid Networks is currently in its initial phase of development and all funds raised over the 3 sales that are taking place, will be allocated accordingly Servers - 2.5% Work space & Equipment - 5% Platform Development - 10% Advertisement & Marketing - 30% Team & m- 40% Details of how exactly how funds will be spent once it has been raised, when we have a better understanding of our position, but will likely be similar to the the fund allocation plan above. Squid Networks has refrained from asking for funding from the very industry we aim to revolutionize, we believe that for this project to be successful the funding must not come from those with ulterior motives but from those who will be using the platform; the gamers and developers. This stems from our view that gaming should be about the gamers, not the revenue to be made from publishing on a platform. Squid networks is a community based platform and therefore all contributors in the first presale will be able to have their say in the future development of the platform, which means a polling system will be created allowing all key developments will be decided by the community. 36
Contact & Customer Services Telegram group chat: https://t.me/squidnetworks Email: support@squidnetworks.io & business@squidnetworks.io Twitter: @Squidnetworks Facebook: facebook.com/squidnetworks Instagram: @Squidnetworks Linkedin: https://www.linkedin.com/company/squid-networks/ Linkedin and facebook messages are typically replied to within 3 hours and both page are updated several times a week. 37
Disclaimer Squid networks offers an opportunity to participate in the sale of Squid token thereby becoming a essential part of the Squid Network itself. The ecosystem is designed to eventually become self-sustainable whereby gamers and developers profit from the upkeep of the network through the unique POG algorithm. We guarantee all contributions will have their tokens sent out after confirmation of the transaction at a static rate against Ether stated on the website. In the ever changing world of cryptocurrency and the blockchain, the legislation varies and between time and location which toughens the requirements for online services that allow earning money online. The concept of Squid Networks in its current stage does not meet the criteria of activities subject to regulation and licensing in the UK. Therefore, the Squid Networks platform and the use of Squid Tokens (SQWD) will meet the requirements of this jurisdiction. The expectations of the Squid Networks platform users regarding the benefits of using the platform at this point are speculative and the success of the project depends on how well the token sales go. Squid Networks is a platform for gaming and the use of Squid Tokens (SQWD) is not a means of payment, in the traditional sense therefore preventing the claims of authorities. The use of cryptocurrency in internal transactions in such software products practically does not encounter resistance from the authorities and does not imply the need for obtaining a license or special permission from authorities within the UK. This is possible thanks to the fact that all purchases of Squid Tokens will be in the form of cryptocurrency, and thus Squid Networks will not bear the marks of licensed activity. Squid Networks complies with current UK laws and regulations. Squid Networks bears no responsibility for those outside of the UK wishing to purchase Squid Tokens and thus cannot be held accountable for people or companies breaking the laws they are bound to within their country. Users also acknowledge that Squid Networks may be subject to change during the development phase which is intended to last until Q14 2019. 38