Dogecoin Socks | Not a ICO or IPO but a ESO

Dogecoin Reddit
Dogecoin Reddit

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.


  • Company

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.

 

  • Mission

We at Kimchi Socks want to provide to Shibes who are going to the moon with stylish socks.

 

  • Goal

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.

 

  • Plan

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.

Additionally, once we successfully raise funds from our ESO. We will donate $0.99 in the form of Doge to #DogecoinSocksForTheHomeless but if we issue a refund due to not meeting our minimum. We will not be able to donate to this Wow cause.

After a successful ESO, sock production may take 3~4 weeks. After that, we will ship the socks to our distribution location in New Orleans to be distributed to Shibes around the world. For Shibes who live in the US, the cost of shipping will be $5, and for International Shibes, the cost will be $13. $1 per additional pairs for the US and International Shibes will be applied.

Funds left over after we factor out cost and donation, will be used to launch a bigger campaign on Kickstarter to build our Kimchi Marketplace website and to develop an affordable clothing vending machines franchise for aspiring entrepreneurs to be able to afford without going into massive debt. Stay tuned and make sure to follow us at our links below for ESO launch updates.

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