Total Supply : 120,000,000 THY
It sits at the intersection of cryptocurrencies and traditional financial markets, pioneering the realm of commodities-backed tokens.
The Thymus Coin grants direct ownership of gold + diamonds which is held in Thymus custody on behalf of the token holder.
The gold and diamonds can be physically delivered in exchange for the tokens, providing the Thymus Coin with an intrinsic value and therefore a price floor.
An identical and static basket of gold diamonds underlies each Thymus Coin - so each token is alike and equivalent (fungible).
Fast return on investment
Guaranteed growth of investment value
Promotion on world cryptocurrency exchanges
Monthly financial statements
Dynamics of gold prices growth in retrospect
Fast return on investment
Guaranteed growth of investment value
Promotion on world cryptocurrency exchanges
Monthly financial statements
Diamond price dynamics growth in retrospect
Fast return on investment
Guaranteed growth of investment value
Promotion on world cryptocurrency exchanges
BTC price dynamics growth in retrospect
Stages of your financial growth with us
buying thymus coins
we invest and open a network of pawnshops and gold scrap buying shops
we buy gold and diamonds
the remelting and processing of scrap gold into pure commercial gold and the processing of diamonds into commercial diamonds for sale;
we sell and deposit gold and diamonds in reliabl bankse
The profit is distributed in relation to the number of coins purchased on the ETH wallet. Optional GOLD or DIAMONDS.
Joining the team with an intellectual contribution to the development of the project
The introduction of practical actions to improve the performance and development prospects of the coin platform.
Joining the team with the contribution of attracting buyers and investors
Making practical action to attract investors and ordinary users enthusiastic about the idea of cryptocurrency.
Joining the team as an investor and financial expert
Providing practical advice in terms of cooperation with banks, exchanges and other financial institutions
Opening a company office in one of the countries of the African or Asian continents.
Opening metal accounts in reliable banks
Conclusion of contracts with transport companies for the transportation of scrap of precious metals
Conclusion of contracts for the processing of precious metals scrap
Supply of recycled gold and crediting to a metal account with partial subsequent sale at a profitable price.
Determination of the financial result of the company. Profit and loss. Reporting to investors.
The distribution of profits in relation to the proportion of coins of the owners. The transfer of profits to electronic wallets or the delivery of physical metal according to the "white paper".
Promotion of coins on cryptocurrency exchanges and increasing the market value of the business.
Thymus Coin White Paper 1.1.1
The Thymus Coin grants the holder direct ownership of a special basket of basket gold + diamonds , chosen for their unique commercial sale at market rates to banks or storage on metal accounts of commercial banks . The Thymus Coin is comprised of both a digital (crypto) and physical (gold + diamonds) component, where the link between the two is maintained by Thymus, but decentralized through the use of independent service providers. The holder of a token can take delivery of the underlying gold + diamonds, which supports the minimum price of the token and grants full transparency. The integrity of our network is maintained by rational economic principals, which are a consequence of using competing service providers, warehouses, and auditors. Put simply: our coin can never hit zero and we are decentralized. Our unique legal, technology, regulatory, and trading framework makes us the only provider to grant such transparent ownership and liquidity, which paves the way for Thymus to disrupt the global commodities trading industry. The Thymus Coin is only the first step, and a proof-of-concept, as we embark on a journey to revolutionize and disrupt commodities and trade finance – one of the largest industries in the world. We have a vision of truly democratizing commodities markets. Take the first step in profiting from the gold + diamonds markets being unlocked to the retail investor through the power of the blockchain. Like never before, tap into an exciting basket of gold + diamonds which have been uniquely selected to leverage strategic price of gold + diamonds crypto-financial hybrid.
The Thymus Coin. It sits at the intersection of cryptocurrencies and traditional financial markets, pioneering the realm of commodities-backed tokens. The Thymus Coin grants direct ownership of gold + diamonds which is held in Thymus custody on behalf of the token holder. The gold + diamonds can be physically delivered in exchange for the tokens, providing the Thymus Coin with an intrinsic value and therefore a price floor. An identical and static basket of gold + diamonds underlies each Thymus Coin - so each token is alike and equivalent (fungible).
II. The minting and issuance of a Thymus Coin
We are strictly in the business of selling gold + diamonds on the blockchain. Upon an initial purchase, as opposed to buying the token in the secondary market, Thymus will enter into a direct sales agreement for nothing other than the basket of gold + diamonds. The Thymus Coin token is only Issued afterward to enhance the customer experience and make the gold + diamonds more easily tradable. The real product is always the underlying gold + diamonds, whereas the Thymus Coin is nothing other than a digital identification tool. The old-world parallel would be the purchase of gold + diamonds from a smelter, and then asking a warehouse company to issue an identification paper upon the underlying product – something like a “warehouse receipt”. When you hold or re-sell the warehouse receipt you are still dealing with the underlying gold + diamonds directly, but in the form of paper. You’re not trading the warehouse receipt itself, but it will still be changing hands because it is the tool that accounts for the gold + diamonds. This is why Thymus is issuing and selling physical gold + diamonds, and not selling a Thymus Coin. The Thymus Coin is the accounting tool, similar to a warehouse receipt. We are minting the Thymus Coin later in order to apply the most cutting-edge technology to the old-world process. Welcome to the next step in the evolution of commodity markets.
III. The Thymus Coin basket of gold + diamonds
The Thymus Coin (“T-Coin”) is the first crypto-financial product which grants you direct ownership to our basket gold + diamonds. Our basket gold + diamonds is held and audited by independent warehouses, and available for delivery upon request. Every token can be thought of as a digital identification for the ownership of We only mint tokens after the underlying metal has been acquired and inspected by a third party, so you can trust that the token price can never hit zero. The Thymus Coin has all the upside of technology markets, but none of the downside of Bitcoin. This composition has been specified to optimize the risk profile, volatility, and the cost of carrying the underlying basket. We are conducting an Initial gold + diamonds Sale (“IMS”), and not an Initial Coin Offering (“ICO”). Unlike an ICO, we are not selling a product for far-dated delivery or crowdfunding on behalf of product development. We are selling metal within a fully developed legal, regulatory, and technological framework.
IV. Technology gold + diamonds: the most profitable step in the value chain
Everyone agrees that technology is unstoppable but investing in companies can be risky because competition means that a stock can go to zero. Even in cases where there is a clear commodity theme, like the inevitability of Electric Vehicles, how can you choose the right investment? There are so many companies competing in the space, even analysts on Wall Street find it impossible to predict which will be the clear winner. Stocks are a relatively risky way to get exposure to any trend. By their very nature, emerging technologies need to be better or cheaper in order to win market share. Profit margins shrink for investors in companies like Tesla due to the need to engineer some level of cost parity for Electric Vehicles relative to regular automobiles. In cases like this, it is the shareholder who takes the hit, not the consumer. Natural resource companies are also not the best way to benefit from technology growth trends. Mining companies are usually controlled by emerging market governments which are known to seize a large part of the profit margin. All the technology gold + diamonds in our basket have been chosen to benefit from a strategic commodity theme. The underlying metal basket can be delivered on requThe Thymus Coin will list under the ticker TIM. The exact price of the token at Initial gold + diamonds Sale depends on the price of the metal at that date, but the intrinsic value of the basket is close to $ US 0.70 at the time of writing. We believe the price of this basket will outperform over the medium and long term, driven by the implementation of new technologies such as robotics, drones, and wearable tech. Investors in cryptocurrencies are by their very nature forward-looking and would agree that the technology gold + diamonds’ growth story is a key driver of prices. Stability gold + diamonds have been chosen to lower the cost of carry and decrease volatility. The use of gold also provides enhanced liquidity and protection against currency and inflation risk.est, which creates aprice floor to the token.
2. THE THYMUS COIN SOLUTION
I. The problem with cryptocurrency markets
Cryptocurrencies may have no intrinsic value – so asset-backed coins make sense – but the main problem is that they’re just too volatile and highly correlated. It doesn’t matter how many different cryptocurrencies you own, when prices fall it is like you hold just one in your portfolio. Diversification is hard to find. The reason why all coins plummet together (correlation and volatility) is that there is simply not enough crypto-to-fiat liquidity during a market panic. You can trade Bitcoin, Ethereum, and a few other cryptocurrencies against only a handful of fiat currencies. When this happens, the panic selling is the same as being in a crowd where everyone is pushing to exit through the same door. This panic is called “illiquidity”. When you exchange the Thymus Coin for fiat currency you are really going through gold + diamonds markets as a hidden middle step. Gold + diamonds markets are large and liquid enough to soak up any volatility in cryptocurrency markets, providing a stable price floor – solving the illiquidity problem - but without capping any of the upside.
II. Benefits of the Thymus Coin
The Thymus Coin, in essence, boils down to having less price risk than other cryptocurrencies. Although our metal-backed cryptocurrency has multiple applications and users of varying background, the Thymus Coin begins and ends with being safer. Safety means both stability and security
Having less price risk during normal trading means that the Thymus Coin is (1) less volatile than other cryptocurrencies and (2) can only drop by a limited amount. The stability of the token is supported by the intrinsic value of the underlying gold + diamonds . Commodity markets are already much larger and more sophisticated than cryptocurrencies. You can tap into these growth markets through the Thymus Coin
Security means protection of your wealth through accountability and good practices. Your metal is held in-warehouse and inspected by independent parties. The underlying constant volume gold + diamonds is always 100% collateralized and thus has value protection, even in the case of a global melt-down or otherwise.
III. Who uses the Thymus Coin
The Thymus Coin provides exposure to the cryptocurrency market and is designed to have a price floor which can never, and will never, go to zero.
Correlation protection when cryptocurrency markets crash
There is a huge bottleneck in liquidity between cryptocurrencies and fiat currencies. Only a few cryptocurrencies can be exchanged for fiat, driving huge price drops when these few crypto-to-fiat liquidity channels become distressed.
General cryptocurrency market hedge
The Thymus Coin is not only more stable in price, but it solves the biggest problem in the crypto market, namely crypto-to-fiat liquidity. The Thymus Coin is not only easily exchangeable for commodities, but the commodities themselves are uncorrelated to cryptocurrency markets.
Cryptocurrency market participation
We are in the midst of the legitimization of cryptocurrencies as an asset class, which means a huge inflow of institutional capital. The Thymus Coin risk profile perfectly lends itself as a means of participation for funds, family oces, and high net worth individuals. The Thymus Coin is an excellent sales pitch for the new entrant money manager desiring crypto exposure: an investor who has less trust in cryptocurrency markets than millennials but has a lot more capital to deploy.
Consumers: both retail and industrial
The Thymus Coin enables all the clever applications of the blockchain but is safer for consumer finance uses than conventional cryptocurrencies.
Currency risk is one of the greatest issues associated with living in an emerging market nation. Not only is wealth disparity crippling low-income populations around the world, but serious issues surrounding wealth erosion compound low living standards and inequalityCommodities in consumer finance
A little inflation is healthy for the economy, it means that asset prices are rising. Inflation becomes a problem when prices are rising but wages aren’t. Commodities, and in particular gold + diamondss, have long been known to be an inflation hedge. gold + diamondss are traded in every currency, which means that the holder of a Thymus Coin – the owner of gold + diamonds – is never subject to the currency risks of any one nation. If one currency goes down, you can still exchange gold + diamonds for another which is going up. In reality, the Thymus Coin is protected as it will be tradable against multiple currencies (crypto and fiat).
Commodities as inflation protection
Commodities are, in their very essence, an inflation protection. The price of a gold + diamonds in the long run, simplistically, can be thought of as being close to the cost of production. When prices rise due to inflation, it drives up the costs of producing the commodities. As a result of higher wages, more expensive mining equipment, and the costs associated with digging minerals out of the earth, as per the definition of inflation, the price of the gold + diamonds increases. In the 23 emerging market countries which have annual inflation rates in excess of 10%, it is clear that it pays to hold the Thymus Coin. Thymus wants to help disrupt consumer finance for millions of people by combining the power of commodities and the blockchain as a savings tool.
Wealth management tool
As stated previously, the Thymus Coin provides exposure to a crypto-decorrelated, inflation-hedged, and currency hedged basket of gold + diamondss – perfectly combining commodity investment with blockchain consumer finance solutions.
Consumers of gold + diamonds
The Thymus Coin offers value for gold + diamonds traders and corporate consumers alike.
3. WHAT SUPPORTS THE INTEGRITY OF THE THYMUS COIN NETWORK?
The Thymus Coin, in its entirety, is made up of both physical ( gold + diamonds) and digital (crypto) components or assets. It is the job of Thymus to maintain the link between the two. We decentralize this responsibility through the use of competing independent service providers and auditors.
We use the blockchain to maintain the integrity of the digital (cryptocurrency) assets. The consensus algorithm that supports our blockchain of choice enhances safety and mitigates the risk-of-theft. The Ethereum ERC-20 token standard used at the Initial gold + diamondss Sale (IMS) uses a Proof-of-Work (PoW) protocol
II. Decentralized physical assets ( gold + diamonds)
We use a diversified network of independent and competing service providers to support the physical ( gold + diamonds) assets. Our gold + diamonds is sourced from many locations globally, across a number of independent and competing companies. The decentralized nature of the network enhances safety and mitigates the risk-of-theft. Further, the gold + diamonds will be monitored and insured by an independent party.
4. WHAT IS THE “INTRINSIC VALUE” AND “PRICE FLOOR”?
The “intrinsic value” refers to the market price of the basket of underlying gold + diamonds, which you own outright when you hold a Thymus Coin. The price of a Thymus Coin should not stay far below the intrinsic value because of economically rational incentives. Thymus and other market participants will always be willing to buy a Thymus Coin in the market for almost as much the underlying gold + diamonds can be sold for (i.e. the intrinsic value). When the Thymus Coin is too cheap you can buy the undervalued token in order to obtain the gold + diamonds, which can then be sold higher at a profit (this is called “arbitrage”). Free money doesn’t exist for long because traders will actively seek to make a risk-free profit by buying undervalued tokens. When the market decides upon the lowest fair value and price of the token, buying operations will support the price. The price floor strengthens as competition increases as traders compete to exploit risk-free profits from “cheap” tokens.
Delivery of the underlying gold + diamonds is done by “canceling” the token using the Thymus Coin app or website. Simple instructions, which are secured using the blockchain, instruct Thymus to make delivery of the gold + diamonds. The token is destroyed and will thus be removed from circulation as it is no longer collateralized (hence “cancelled”). The former holder of the token will now be entitled to receive the physical material but has forgone ownership of the token. This entire process is decentralized using smart contracts. Each token that is cancelled decreases the total number of circulating tokens and hence lowers the market cap of the Thymus Coin network, keeping the number of tokens in-line with the amount of gold + diamonds secured in-warehouse.
Even if you can’t transport gold + diamonds there will always be an investor who can. It is the job of investors to keep markets ecient, not regular people. Investors support the price floor, not retail customers. If prices fall too much below the intrinsic value, there should always be an investor in the market who will be willing to buy the token for a higher price.
5. UNDERSTANDING THE MARKET PRICE
The market price of the TIM token can be thought of as: Token Price (TIM) = Intrinsic Value (IV) + Market Premium (MP)
Intrinsic value (IV)
IV is the total market value of the basket of gold + diamonds underpinning each token.
Market Premium (MP)
MP is the differential between the T-Coin market price (TIM) and the value of the underlying gold + diamonds, or intrinsic value (IV). The market premium (MP) is expected to be positive at most points in time, as market participants should pay a premium for the utility provided by the T-Coin. It is important to note that the market premium can go also negative, in cases where there is a broader market sell-off or when liquidity is thin. At any point in time, the basket of gold + diamonds which you own by holding each token will be disclosed to the public on the Thymus website, meaning that anyone is able to calculate the IV of each token and back-solve to find the MP.
The price floor is based on economically rational arbitrage principles, which means market participants are incentivized to support the token price (and can expect to profit in doing so). This is done by buying cheap tokens and canceling them in order to receive the more valuable underlying physical gold + diamonds – aka arbitrage. As any T-Coin holder has the right to cancel a token, the free participation in this arbitrage activity provides the cornerstone for mitigating price risk. Retail investors still benefit from the liquidity that investors provide in protecting the price floor (buying undervalued tokens) because investors should always provide a bid (buy order to support prices) for fractions of tokens as they aggregate full units. The economic break-even to arbitrage the lower bound is determined by (i) the tradable T-Coin price (TIM), (ii) the estimated intrinsic value (IV*) of the basket inclusive of costs which is observable at any time (and can be reasonably estimated given basket composition and live prices), and (iii) and some risk premium (RISK) demanded by the investor.
The RISK will be a function of liquidity constraints and incorporates the volatility of the securities, market depth, and expected time required to sell the gold + diamonds on an exchange or otherwise. Investors, including Thymus, are incentivized to place a bid (buy order which support the market) at the given price: TXC ≤ IV* - RISKest
Thymus intends to work a “perpetual bid” (PB) in the market, such that at any time a seller is able to find liquidity and use it as a price floor. The transparent pricing of gold + diamonds exchanges, as well as the fact that some of the underlying gold + diamonds contracts can be sold on-exchange (without incurring costs of physical delivery), should increase investor participation and incentivize competition which improves the best bid in the market.
7. Regardless of the chosen method of liquidation of the basket, it can be assumed that Thymus receives some sale price net of costs (SALE) in the form of fiat currency. For Thymus Pay-off = SALE – PBaverage – RISKrealised
So, Thymus makes money if SALE > PBaverage + RISKrealised
8. Thymus will cancel the coin to reduce the total supply of tokens.
9. This will support the price of each TIM token, therefore protecting the price floor.
III. An example of cancelation, from the perspective of the consumer
One time issuance cost of 9,00% can be broken down into:
3,00 % Legal and Compliance
• Due diligence of the gold + diamonds, warehouse receipts, bank account statements and the whole company on a quarterly basis
• Lawyers to conduct and approve the due diligence
• Management of the global certificate together with external lawyers
• KYC and AML execution and verification processes
2,50 % Liquidity Premium
• Acquiring the gold + diamonds (bid/ask spread)
• Execution of our best price policy and assumed price risk
• Managing the cash/basket quota (Most investors won’t buy 1.000.000 coins, i.e. a full basket) We have to own and manage a certain part of a basket to be able to issue e.g. only 1 coin.
1,50 % Management Fees
• Hedging. We need to lock-in prices once we receive money, especially if it’s not enough to acquire a full basked
• Arbitrage. This will protect our investors and makes sure that the Thymus Coin price and the gold + diamondss basket price stays as close as possible together
• Accounting and booking all positions. Fill out all necessary reports and collect all bank statements
1,00 % Brokerage Fees ( gold + diamonds Broker)
• Costs related when you trade with brokers
1,00 % Exchange Fees ( gold + diamondss Exchange)
• Costs related when you trade with an exchange. Essentially the broker will pass these costs over to us
0,00 % Warehouse Fees (only for the first 12 months)
• For the first twelve month we’ll not collect warehouse fees
• After 12 months, warehouse fees will be collected on a daily basis for the total amount of Thymus Coin you own
• The fees amount to around 2.5% per year and are used to pay the rent for the warehouses holding your gold + diamonds
7. LEGAL OVRVIEW
I. Thymus Coin in a nutshell
The purchase of the Thymus Coin is equivalent to the purchase of physical gold + diamonds. The purchaser of the gold + diamondss instructs at the same time Thymus Technology Ventures Ltd. (“TIC”) to leave the gold + diamonds in custody with a warehouse. The warehouse then issues a warehouse receipt that represents the underlying commodity. The individual warehouse receipts are held in custody by TIC which replaces the individual warehouse receipts with a global certificate. The initial purchaser then gets “dynamic co-ownershipin the global certificate equivalent to its share in the aggregate of the underlying warehouse receipts. The Thymus Coin represents this co-ownership share and grants in addition also a claim to the warehouse receipts that are the underlyings of the global certificate. The Thymus Coin is thus a security. It is however not a derivative, because the transaction envisioned is a spot transaction . The purchase of the gold + diamondss is settled within the ordinary settlement periods of the underlying gold + diamondss. The Thymus Coin is also not a book entry security, because it is not issued by a depository and is neither a claim to the gold + diamonds nor a membership right. TIC will create an uncertificated securities register . The initial purchaser explicitly instructs TIC to subscribe the Thymus Coin on behalf of the buyer and to assign them subsequently in blank to the Buyer. The Thymus Coin is also a means of identification that will ensure that the warehouse receipts representing the underlying gold + diamondss will only be delivered to the rightful owner who identifies itself as the holder of the required amount of Thymus Coins.
The initial purchaser of the Thymus Coin is entering into three contractual agreements with TIC, the issuer of the Thymus Coin. The first is a purchase agreement of a basket of gold + diamondss. An additional clause in the purchase agreement is the obligation to put the gold + diamondss in a bonded warehouse for storage. The initial purchaser will buy the gold + diamonds from TIC which will buy gold + diamondss in the market or from other companies. The initial buyer purchases a fixed gold + diamonds allocation at the time T, when the purchase price is deposited on the accounts of TIC. Purchases of Thymus Coins will be settled on a rolling basis, meaning that the Thymus Coins will be bought each time the purchase price will be debited on the account of TIC and in such a way aggregated amounts will allow the purchase of an entire basket of gold + diamondss which amounts to approx. USD 42 000. The risk of fluctuating prices between the purchase and the settlement is borne by TIC. The number of Thymus Coins the initial investor gets, will thus be different depending upon the market price fluctuations of the fixed allocation of the gold + diamondss. The ongoing settlement eliminates the risk to engage in a collective investment schemes activity by pooling cash for the purchase of gold + diamondss. The Thymus Coin serves also as a means of identification in case of redemption of the physical gold + diamonds. Each warehouse receipt represents a standardized quantity of the underlying basket of gold + diamondss (e.g. installments of USD 5’000 per warehouse receipt). The warehouse receipts are issued in the form of instruments payable to the order endorsed in blank. The endorsement in blank allows the initial holder of the warehouse receipts to transfer the warehouse receipt like a bearer security. The initial holder of the warehouse receipts will be TIC. Each warehouse receipt represents a certain quantity/basket of base gold + diamondss/precious gold + diamondss with a fixed allocation and which are priced at the point in time the Thymus Coin has been issued. The gold + diamonds is held in allocated form at the warehouse. The warehouses are bonded warehouses. The underlying physical gold + diamondss are therefore not subject to VAT (if at all).
The second agreement is a custody agreement. The custody agreement entered into between the initial purchaser and TIC sets forth that the warehouse receipts will be held in custody by TIC. TIC will replace the individual warehouse receipts with a global certificate. The certificates will be kept by TIC in a safe of a reputable bank. Each initial purchaser will get shared ownership in the global certificate representing the underlying warehouse receipts. This ownership share corresponds to the share of each purchaser in the total amount of warehouse receipts held in custody This share is an uncertificated security . TIC will hold the global certificate and the underlying individual warehouse receipts in custody for the benefit of the holder of the Thymus Coin. The initial purchaser can transfer its share in the global certificate. He can transfer its ownership to third parties by selling the share in the ownership and transferring the Thymus Coin which is a blank endorsed uncertificated security. The custody agreement entitles a third party – which must itself identify with the required amount of Thymus Coins - to request the delivery of the warehouse receipts which are the underlyings of the global certificate. The custody agreement will automatically be terminated in case someone requests the delivery of the underlying warehouse receipts. The underlying warehouse receipt will only be delivered to a holder of the required amount of Thymus Coin for requesting physical delivery of the underlying gold + diamondss.
Agreement to hold possession on behalf of the Thymus Coin holder
The third agreement is an agreement that the custodian of the warehouse receipts/global certificate shall hold possession in these securities for each future holder of the Thymus Coin. TIC has agreed to hold the global certificate and the underlying warehouse receipts in possession for any potential future purchaser of a share in the ownership of the global certificate. The transfer of the ownership is thus done based on a sales agreement and the agreement that the custodian will possess the securities for any future owner to whom the shared ownership will be transferred. The transfer of the ownership in the security is the transfer of the underlying gold + diamonds itself. The initial purchaser agrees however that the Thymus Coin is in this context a means of identification of the owner of the dynamic ownership in the global certificate respectively the underlying warehouse receipts.
III. Exit scenarios
A holder of the Thymus Coin will have two main exit scenarios. The first will be a sale and the second a redemption of its Thymus Coins for delivery of the actual underlying gold + diamondss. A holder of the Thymus Coin will request from TIC the warehouse receipts that are the underlyings of the global certificate. The global certificate will thus be amended and reflects the altered number of underlying warehouse receipts. The warehouse receipts will then entitle the holder to claim the physical gold + diamondss. It is likely that a holder of the warehouse receipts will not have sucient receipts to match completely the different quantities the gold + diamondss are stored. The terms and conditions of the Thymus Coin sets forth that physical delivery can only be requested if a certain amount of Thymus Coins has been presented to the warehouse. Any “odd lots” can only request physical delivery if they pay the price of the efforts required to provide the physical gold + diamonds. Another alternative to get physical delivery will be a repurchase of the Thymus Coins in the sole discretion of TIC. These exit scenarios are compliant with applicable rules and regulations to the extent these features are disclosed in the terms and conditions of the Thymus Coin- Thymus Technology Ventures Limited.
TIC will also be entitled to “cancel” a token and to call off the initial coin issuance under certain clearly defined circumstances. These conditions will be defined in the terms and conditions of the Thymus Coin. TIC will have a right to cancel a Thymus Coin if:
• A Thymus Coin is used for illicit activities or has been involved in illicit activities, unless the current holder has received it in good faith (in such a case the holder has no right to the underlying warehouse certificates)
• Thymus Coins have been repurchased by TIC with own funds in compliance with the terms and conditions of the Thymus Coin (in such a case the holder has no right to the underlying warehouse certificates)
• Changes in laws and regulations as well as case law require TIC to cancel some or all of the Thymus Coins (in such a case the holders will receive the underlying warehouse certificates)
TIC has also the right to call off the initial coin issuance or to limit the issuance of Thymus Coins to a certain amount if:
• Not more than USD 42 mio. will be raised during the initial coin issuance
• The investor base will consist of a majority of investors that are domiciled in jurisdictions that are very restrictive for coin offerings or forbid initial coin offerings altogether
• It will be impossible to execute the planned structure of the Thymus Coin for reasons that are not attributable to TIC
TIC will also reserve the right not to accept certain investors and not to issue Thymus Coins if there are “odd lots”.
IV. Financial market regulatory considerations
Classification of the Thymus Coin
The Thymus Coin is a security in the form of an uncertificated security. It is not a derivative, because it is not a financial instrument that derives its value from an underlying. The Thymus Coin is a means of transfer of the underlying commodity itself. Thymus Coin is an asset token. At least for now the Thymus Coin does however not have any characteristics as payment token. This might however change as time progresses and/or the necessary regulatory framework mutates.
Thymus Technology Ventures Limited - TIC is issuing the Thymus Coin. The issuance of own securities in the form of uncertificated securities is not subject to AML-requirements. Thymus Technology Ventures will however nevertheless identify all initial purchasers and beneficial owners according to the identification rules under AML-legislations and will be in compliance with all the AML-obligations. The warehouse receipts and global certificate will be held in custody by TIC. The securities are held in custody in a safe of a bank and are segregated from the other assets of TIC. They are thus not deposits in the sense of the Banking Act. The holder of Thymus Coins can at all times require the delivery of the underlying warehouse receipts according to TIC. Holding securities in custody is an activity of a financial intermediary subject to AML-requirements according AMLO. The warehouse receipts are securities, the global certificate however not, because it is not apt for mass trading. There will only be one global certificate. TIC will identify the contractual partners to the custody agreement and the beneficial owner of the contractual partner at the time of sale of the warehouse receipts and will in addition also comply with the other AML-duties, such as PEP identification, sanctions/embargo check, and suspicious transaction reporting. It has however according to FINMA practice not to identify the owners and beneficial owners of the global certificate which might change over time assuming that the initial purchaser will sell its shared ownership. This view has been confirmed by FINMA.
Holding securities in custody does not require a securities dealer license. There are thus no legal consequences under the securities dealer act. TIC will however identify anyone requesting physical delivery of the warehouse receipts according to the AML-identification requirements. It will not deliver the warehouse certificate in case of suspicion of money laundering activities and will require additional evidence of the background of the purchase of the Thymus Coins.
The bonded warehouse is not subject to AML-requirements. It will issue warehouse receipts that are instruments payable to the order of TIC. These warehouse certificates will be endorsed in blank. They will be issued in a certain installment or multiples therefrom (e.g. for each USD 100,00) representing a certain quantity of a gold + diamonds or a gold + diamonds basket at the time of purchase. The warehouse receipts will be endorsed in blank and are thus transferable like a bearer instrument. The warehouse will deliver the gold + diamonds to the person that presents the warehouse receipt. The warehouse is not subject to other regulatory obligations.
The Thymus Coin will be accompanied with a white paper which will explain the working and mechanics of the Thymus Coin.
Subsequent issuances of Thymus Coins
TIC is planning to issue additional coins after the sale. The gold + diamonds will be purchased at the prevailing market price at the time of the second issuance in the same allocation of the gold + diamondss determined at the time of issuance of the Thymus Coins at the initial coin offering. The variable element will thus be the amount of tokens. This means in other words that all Thymus Coins will have the same gold + diamonds content. TIC reserves the right to purchase gold + diamondss only in the allocation determined at the first issuance of the Thymus Coin. TIC will thus reserve the right not to issue new Thymus Coin will also happen to accommodate the surplus settlement, because the second installment can only be purchased in certain pre-defined quantities.
8. LEGAL STRUCTURE OF THE THYMUS COIN
The Thymus Coin (“T-Coin”) entitles its holders to hold direct ownership in a basket of gold + diamondss. The purchase of a T-Coin is effectively the purchase of a basket of gold + diamondss. This is ensured by means of the following sequence of transactions/actions:
Set-up of the structure
1 - Any first buyer of a T-Coin enters initially into three contracts with Thymus Technology Ventures Ltd. (“Thymus”): (i) a purchase agreement of a basket of pre-defined gold + diamondss, (ii) a custodian agreement and (iii) an agreement that Thymus or its agents will hold the global certificate (as mentioned below in 4) on behalf of the initial purchaser or any of his successors.
2 - The first buyer of the T-Coin will purchase at the time T a pre-defined basket of gold + diamondss designated by Thymus for the purchase price determined at the time T from Thymus.
3 - Thymus will deliver the gold + diamondss which determine the basket to a bonded warehouse which is exempted from any taxes or duties. The warehouse will issue warehouse receipts in various forms for the deposited gold + diamondss.
4 - The warehouse receipts will be deposited with Thymus or a contracted agent which will issue a global certificate replacing the individual warehouse receipts. Each buyer will receive partial ownership share in the global certificate corresponding to his fractional ownership in the aggregated amount of the deposited warehouse certificates.
5 - The T-Coins will be issued subsequently representing partial ownership in the global certificate.
Sale, purchase and transfer of the T-Coin
6 - The T-Coin can be transferred by the initial purchaser or any subsequent owner by sending the T-Coin to the wallet of any subsequent buyer.
7 - The sale, purchase and transfer of the T-Coin can only be conducted according to the terms and conditions of the White Paper (“White Paper”) and the respective corresponding contracts. Further, the T-Coin can only be bought and sold on cryptocurrency platforms or exchanges which are governed by AML/KYC-requirements according to FATF-principles.
Redemption of the T-Coin and delivery of gold + diamonds
8 - Any owner of a T-Coin who is in compliance with before mentioned AML/KYC requirement can redeem a T-Coin for the physical underlying gold + diamonds, by requesting the warehouse certificates which are represented in the fractional ownership of the global certificate from Thymus. It is worth noting, that Thymus is not delivering the physical gold + diamondss but the warehouse certificates which are documents endorsed in blank that can be transferred like a bearer security and which entitle the owner for physical delivery of the gold + diamondss
9 - The owner of the warehouse certificates can claim physical delivery of said gold + diamondss from the warehouse/s.
3. Important legal information
The purchase of the Basket and therefore T-Coins involves a high degree of risk. You should consider carefully the risks described below, together with all of the other information contained in the White Paper before making a decision to buy the Basket and acquire T-Coins. It is imperative that TTV reserves the right to provide only partial fills (“partial fills”, “partial filling”) to any client and is able return any amount of IMS-money deposited back to the investor, at the discretion of TTV, including the case where TTV actually buys gold + diamonds but is forced to sell the gold + diamonds again in order to return the money to the client (who will bear any trading loss incurred trading into and out of the gold + diamonds, including FX and brokerage costs). TTV does not intend on providing partial fills, however, operational restriction dictate that only certain quantities of gold + diamonds can be acquired which might lead to partial filling.
Purpose of the White Paper
The White Paper has been prepared by TTV in good faith and to the best of its ability. The purpose of the White Paper is the presentation of the function of the T-Coin to potential future owners of the T-Coin. Recipients should however make their own independent investigations and enquiries regarding matters in the White Paper, and rely upon their own judgment as to the accuracy and completeness of any information. The T-Coin may not be suitable for every interested party and any offering may be restricted to those parties that meet certain criteria imposed by applicable law, regulation or the terms and conditions disclosed by TTV.
Buying gold + diamondss which are then held in custody poses substantial risk and unlimited loss is possible. This is in theory also possible with the purchase a Basket which is represented by a T-Coin. There are a plethora of risks, however it is not the intention to list and identify all the possible risk adversely affecting the purchase of a Basket and the ownership of a T-Coin. Any interested party should ensure that they fully understand the terms of the transaction, including the relevant risk factors and any legal, tax, regulatory or accounting considerations applicable to them, prior to transacting. No information set out or referred to in this document shall form the basis of any contract.
White Paper is no offer to sell or solicitation.
The information contained in the White Paper shall not constitute an offer to sell or the solicitation of an offer to buy T-Coins.
The White Paper is not a prospectus as set forth and regulated of Obligations, under the European Prospectus Regulation or under any other applicable law and regulations. The White Paper is a draft and any buyer of a Basket and the subsequent ownership of a T-Coin should-reassess the final White Paper at the time of issuance of the T-Coin based on the final version. Please note that updated versions of the White Paper are published on the T-Coin webpage (www.Thymuscoin.com) on an irregular basis. The White Paper has not been reviewed by any regulator. No regulatory authority has examined or approved of any of the information set out in the White Paper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of the White Paper does not imply that the applicable laws, regulatory requirements or rules have been complied with. The T-Coin will not be registered with any regulator or authority as security or financial instrument as the T-Coin constitutes as means of identification for a prior occurred purchase of a Basket.
Cautionary Note on Forward-Looking Statements.
The White Paper may contain certain forward-looking statements including, but not limited to, statements as to plans that involve risks and uncertainties. TTV uses words such as “expects”, “anticipates”, “believes”, “estimates”, the negative of these terms and similar expressions to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors.
No investment, business, legal, regulatory, tax, or technology advice.
No information in the White Paper should be considered to be investment, business, legal, financial, tax, or technology advice regarding the T-Coin and the sale of T-Coin. You should consult your own investment, legal, financial, tax or other professional adviser regarding T-Coin and their respective businesses and operations, the T-Coins, and the sale of the T-Coin. You should be aware that you may be required to bear the financial risk of any purchase of T-Coins for an indefinite period of time.
The tax characterization of the T-Coin is uncertain, and each investor must seek its own tax advice in connection with the acquisition of the T-Coin. The acquisition of T-Coins may result in adverse tax consequences to buyers, including withholding taxes, income taxes and tax reporting requirements. Each person acquiring T-Coins should consult with and must rely upon the advice of its own professional tax advisors with respect to the tax treatment of an acquisition of the T-Coins.
You should consult with your own advisor regarding your legal, regulator, and tax position
The regulatory regime governing the blockchain technologies, cryptocurrencies, tokens and token offerings such as T-Coin is uncertain, and new regulations or policies may materially adversely affect the utility of the T-Coins.
Regulation of tokens (including the T-Coin) and token offerings as to what certain regulators could affect the T-Coin ownership to be characterized, cryptocurrencies, blockchain technologies, and cryptocurrency exchanges currently is undeveloped and likely to rapidly evolve, varies significantly among international, federal, state and local jurisdictions and is subject to significant uncertainty. Various legislative and executive bodies in the United States and in other countries may in the future adopt laws, regulations, guidance, or other actions, which may severely impact the T-Coin. Failure by TTV or certain owners of the T-Coin to comply with any laws, rules and regulations, some of which may not yet exist or are subject to interpretation and may be subject to change, could result in a variety of adverse consequences, including civil penalties and fines.
Cryptocurrencies also face an uncertain regulatory landscape in many non-U.S. jurisdictions such as the European Union, China and Russia. Various non-U.S. jurisdictions may, in the near future, adopt laws, regulations or directives that affect the T-Coin. Such laws, regulations or directives may conflict with those of the U.S. or may directly and negatively impact our business. The effect of any future regulatory change is impossible to predict, but such change could be substantial and materially adverse to the development and growth of the T-Coin and the adoption and utility of the T-Coin. New or changing laws and regulations or interpretations of existing laws and regulations, in the U.S. and other jurisdictions, may materially and adversely impact the value of virtual currencies used to acquire T-Coins and otherwise materially and adversely affect the structure or T-Coins and the rights of the holders of T-Coins.
The T-Coin may be the target of malicious cyber-attacks or may contain exploitable flaws in its underlying code, which may result in security breaches and the loss or theft of T-Coins. If the T-Coin Protocol’s security is compromised or if the T-Coin is subjected to attacks that frustrate or thwart the users’ ability to access their T-Coins, users may cut back on or stop using the T-Coins altogether, which could seriously curtail the utilization of the T-Coins.
The T-Coin structural foundation, the software application and other interfaces or applications built upon the T-Coin are still in an early development stage and are unproven, and there can be no assurances that the T-Coin and the creating, transfer or storage of the T-Coins will be uninterrupted or fully secure, which may result in a partial or complete loss of users’ T-Coins or an unwillingness of users to access, adopt, utilize and build upon the T-Coin Protocol. Further, the T-Coins may also be the target of malicious attacks seeking to identify and exploit weaknesses in the software, which may result in the loss or theft of T-Coins. For example, if T-Coin are subject to unknown and known security attacks (such as double-spend attacks, 51% attacks, or other malicious attacks), this may materially and adversely affect the T-Coin.
All limitations of liability apply not only to services or external parties built upon the T-Coin in its entirety but also any service or external party which the T-Coin in its entirety may interact with such as a cryptocurrency exchanges, which may result in a partial or complete loss of users’ T-Coins or an unwillingness of users to access, adopt, utilize and build upon the T-Coin Protocol.
All limitations of liability also apply to all parties which been used by TTV in the operation of the T-Coin in its entirety, such as service providers who store the Basket, trade the Basket, or insure the Basket which the T-Coin represents, which may result in a partial or complete loss of users’ T-Coins or an unwillingness of users to access, adopt, utilize and build upon the T-Coin Protocol.
he further development and acceptance of blockchain networks, including the T-Coin, hich are part of a new and rapidly changing industry, are subject to a variety of factors hat are dicult to evaluate.
he growth of the blockchain industry in general, as well as the blockchain networks and pplications on which the T-Coin will rely and interact upon, is subject to a high degree of ncertainty. The factors affecting the further development of the cryptocurrency industry, as ell as blockchain networks, include, without limitation:
- Worldwide growth in the adoption and use of ETH, Zilliqa or any other cryptocurrency, and other blockchain technologies;
- Government and quasi-government regulation of ETH, Zilliqa or any other cryptocurrency, and other blockchain assets and their use, or restrictions on or regulation of access to and operation of blockchain networks or similar systems;
- The maintenance and development of the open-source software protocol of the ETH, Zilliqa or any other cryptocurrency networks; - Changes in consumer demographics and public tastes and preferences;
- The availability and popularity of other forms or methods of buying and selling goods and services, or trading assets including new means of using fiat currencies or existing networks; or
- General economic conditions and the regulatory environment relating to cryptocurrencies.
A decline in the popularity or acceptance of ETH, Zilliqa, or other blockchain-based tokens would adversely affect the results of TTV operations.
The slowing or stopping of the development, general acceptance and adoption and usage of blockchain networks and blockchain assets may deter or delay the acceptance and adoption of the T-Coins.
Restrictions on the T-Coin
TTV reserves the right to call off the sale of Baskets and the subsequent issuance of token if no more than USD 20 million notional in interest will be raised during the Initial gold + diamondss Sale (“IMS”) event , the interested buyers are in their majority domiciled in jurisdictions that are very restrictive to token sales, it will be impossible to execute the planned structure of the T- Coin for reasons that are not attributable to TTV, or for any other reasons. TTV reserves the right to cancel any T-Coin in case of illicit behaviour and activities and in any other case if it is deemed to be adequate. T-Coins can only be transferred on a cryptocurrency exchange that is subject to AML/KYC-requirements that are in line with the AML-principles set forth by the FATF and not affected by sanctions issued by the USA The T-Coin can only be transferred to exchanges, and therefore all the wallets under the control of the exchange, if the exchange has been explicitly approved as a working partner by TTV. T-Coin can only be traded on TTV approved exchanges.
Loss of private key and risks associated with the wallet.
T-Coins can only be accessed by using a cryptocurrency wallet with a combination of the investor’s account information and private key or password. The T-Coin can be stolen if the private key or password gets lost or stolen. TTV and any of its employees, bodies, or contractors are not responsible for the wallet to which T-Coins are transferred to and they are not responsible for the access and security of a wallet, for any security breach, any loss resulting from a service wallet provider, including any termination of service by the wallet provider and/or bankruptcy of the wallet provider. Anyone investing in T-Coins confirms that they understand the working of a wallet and the related risks.
Lack of consensus of miners and risks related to forking.
The network of miners are ultimately in control of T-Coin and that there is no warranty or assurance that the network of miners will allocate the T-Coin to the investor as proposed by any terms. The network of miners could agree at any time to make changes to the T-Coin and to run a new version of the smart contract. A group of people may take the software and modify it to accept a different set of tokens, or no tokens, which might devalue the T-Coin. TTV might consider and implement a hard fork of the T-Coin, meaning a splitting of the path of a blockchain by invalidating transactions confirmed by nodes that have not been upgraded to the new version of the protocol software.
No reliance or warranty
Potential buyers of Baskets and subsequently the T-Coin may place no reliance on the information contained in the White Paper and the accompanying verbal presentation or the completeness or accuracy of such information. No representation or warranty, express or implied, is given as to the accuracy or completeness of the information or opinions contained and the accompanying verbal presentation. All opinions and estimates contained in the White Paper and the accompanying verbal presentation are subject to change without notice and are provided in good faith but without legal responsibility.
Prohibition of distribution and dissemination in restricted jurisdictions.
The distribution or dissemination of the White Paper or any part thereof may be prohibited or restricted by the laws, regulatory requirements and rules of any jurisdiction. In the case where any restriction applies, you are to inform yourself about, and to observe, any restrictions which are applicable to your possession of the White Paper such part thereof (as the case may be) at your own expense and without liability to T-Coin, TTV or any of its management or employees. Persons to whom a copy of the White Paper has been distributed or disseminated, provided access to or who otherwise have the White Paper in their possession shall not circulate it to any other persons, reproduce or otherwise distribute the White Paper or any information contained herein for any purpose whatsoever not permit or cause the same to occur.
Exclusion of liability and losses associated to the purchase of T-Coin.
To the maximum extent permitted by the applicable laws, regulations and rules, T-Coin, TTV or any of its management or employees shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on the White Paper or any part thereof by you. The value of the T-Coin can go down as well as go up. The value is affected by market volatility, the underlying gold + diamondss, fluctuations in exchange rates, and other factors. TTV does not assume any liability for possible losses.
Translations and Amendment of this White Paper
The White Paper might be translated in other languages or used in the course of written or verbal communications with external parties. In the course of such translation some of the information contained in the White Paper might be lost, corrupted or misrepresented. The accuracy of such alternative translations is not guaranteed. In case of any conflicts of inconsistencies between the White Paper and such alternative communication, the White Paper shall prevail. Thymus reserves the right to change the terms and conditions of the Whitepaper, all associated contracts and the accompanying documents as published on the webpage at any time without prior notice.
The White Paper is copyright-protected. All rights appertaining thereto, even in case of only partial use, shall remain reserved, particularly with regard to the following: translation, reprinting, recital, use of images and graphics, broadcasting, duplication via microfiche or other means, and/or storage in data processing equipment. A duplication of this publication or portions thereof shall not be allowed. Any breaches may be subject to the penalties provided for under law.
Very promising project. The future of cryptocurrency in my opinion is built on such coins as THYMUS. The name of the coin is translated from the Greek as "life force". A coin with such a name cannot fail to bring profit and welfare to its owner. I am confident in the future of this project.
Ali C. Tanda Founder and C.E.O https://www.zambworth.com
PhD in Finance, Monetary Circulation and Credit (Saint-Petersburg State University of Finance and Economics, Russia);
MSc in Corporate Finance (Saint-Petersburg State University of Finance and Economics, Russia);
I have a question ? I don't believe?!
The period from 03 / 01 /2020 to 04 / 01 /2020
30% discount when buying up to 1000 coins
Discount 32% for purchases from 1001 to 2000 coins
Discount 34% for purchases from 2001 to 3000 coins
Discount 36% for purchases from 3001 to 4000 coins
Discount 38% for purchases from 4001 to 5000 coins
Discount 40% for purchases from 5001 to 6000 coins
The period from 04 / 01/ 2020 to 05 / 01 / 2020
20% discount when buying up to 1000 coins
Discount 22% for purchases from 1001 to 2000 coins
Discount 24% for purchases from 2001 to 3000 coins
Discount 26% for purchases from 3001 to 4000 coins
Discount 28% for purchases from 4001 to 5000 coins
Discount 30% for purchases from 5001 to 6000 coins
The period from 05 / 01 /2020 to 06 / 01 / 2020
10% discount when buying up to 1000 coins
Discount 12% for purchases from 1001 to 2000 coins
Discount 14% for purchases from 2001 to 3000 coins
Discount 16% for purchases from 3001 to 4000 coins
Discount 18% for purchases from 4001 to 5000 coins
Discount 20% for purchases from 5001 to 6000 coins
Details are discussed in confidence.
Details are discussed in confidence.
Details are discussed in confidence.
Details are discussed in confidence.
Details are discussed in confidence.
Details are discussed in confidence.
Details are discussed in confidence.
Details are discussed in confidence.
Providing practical advice in terms of cooperation with banks, exchanges and other financial institutions. In accordance with the contribution to the project, the remuneration in coins or fiat money will be determined.
Making practical action to attract investors and ordinary users enthusiastic about the idea of cryptocurrency.In accordance with the contribution to the project, the remuneration in coins or fiat money will be determined.
The introduction of practical actions to improve the performance and development prospects of the coin platform. In accordance with the contribution to the project, the remuneration in coins or fiat money will be determined.