ICOs have whitepapers that explain how the funds raised will be used. So, here is my whitepaper for my Dogecoin Socks ESO by Kimchi Socks LLC.
On August 4, 2015, Kimchi Socks LLC was established as a sock subscription company and since then it has become a boutique sock company looking to create sock designs around communities like Bitcoin and now our latest project is the Dogecoin socks.
We at Kimchi Socks want to provide to Shibes who are going to the moon with stylish socks.
Our goal is to sell 3,000 pairs of socks, over a 30 days period at the wholesale price of $5.99 instead of the retail price of $10.99. We must get a minimum of 1,200 pairs of Dogecoin Socks pre-order because of our MOQ (Minimum Order Quantity) requirement set by our manufacture here in S. Korea.
Our ESO (Early Socks Offering) will go live on July 20, 2017, 20:00 Seoul Time and will run for 30 days to end on August 19, 2017, 20:00 Seoul Time.
As of right now, cryptocurrencies to include Dogecoin, Bitcoin, Litecoin, and USD will be allowed as forms of payment. Additionally, if we do not presale at least 1,200 pairs of socks by our August 19th deadline, all Shibes will be refunded, but we have faith that the Dogecoin community will help us to at least reach our goal of 1,200 pairs of Dogecoin Socks Pre-Ordered.