The Curate token project is built on the Ethereum Virtual Machine(EVM); a general purpose language machine Turing- complete. The ERC-20 smart contract token standard which the Cur8 token is, powers the primary reward, loyalty points and other utility products and services for which the Cur8 token is implemented. When users discover curated fashion contents and styles by fashion brands and retailers who partnered with the Curate decentralised fashion discovery platform project, they earn crypto-asset1 in the form of BTC, ETH and the Cur8 token.

The Curate platform as a proposed style discovery Decentralised Application (D’App) is blockchain smart contract- enabled for transactions and rewards with crypto-assets for discovery of latest men’s and women’s luxury fashion items curated from fashion brands and retail stores across the world. Original content users, curators and discoverers are rewarded through the Curate D’App. The Cur8 utility token serves as a multi-purpose utility token, since a Curate platform Cur8 utility token holder can use the Cur8 utility token both within and without the Curate D’App ecosystem as a monetary currency for pre-payment voucher, coupon discount code redemption, offer promotion, free shipping and shopping on the Curate D’App, Curate Pro account upgrade, retailer social karma tipping for bounty offering to users for content review, and among others.

Curate lets its fashion brand and retail partners upload curated fashion contents on the platform for discovery to showcase their latest fashion trends, raise brand awareness and increase online sales. Curate aggregates latest fashion trend infodata without ownership interest in the underlying real fashion pieces themselves, but does this exclusively to provide fashion content curation, discovery, brand exposure and reward system.

The decentralised open source Curate D’App as a Web 3.0 appliaction lets content users such as fashion brands and fashionistas upload fashion contents, while the community engages with the contents through comments, posts, upvotes, downvotes et al., to show acceptability, popularity and authenticity of the uploaded curated fashion content.
100,000,000 Cur8 tokens have been pre-mined, with 25%, 20%, and 15% respectively allocated to the three consecutive phases 1st, 2nd, and 3rd of the IEO to make 60% of the total token supply available for the entire Initial Exchange Offering (IEO) sessions. The soft and hard capitalisations are $1,000,000 and $10,000,000 respectively. The IEO whose start date is 8th August, 2019 is conducted in three phases. Round 1 runs from 9th – 25th August, 2019, and 1 Cur8 sells for $0.75 with 25% discount bonus, while Round 2 run date is 16th September – 15th October, 2019, and 1 Cur8 sells for $0.09 with 25% discount bonus. Round 3 starts February 2019 on a Decentralsed Exchange (DEX), and 1 Cur8 sells for $0.1125 with 25% discount bonus. The IEO sessions take place on Centralised Exchanges (CEXs). Know Your Customer (KYC)/Anti-Money Laundering (AML) due diligence prerequisites are handled on the
CEXs before eligibility to participate in the IEO. This obviates the need for another KYC/AML due diligence on the Curate website, where an ICO also runs concurrently with the IEO.

Is the Cur8 token a utility token like the bitcoin payment token, and ipso facto not subject to securities regulation of any jurisdiction?

Check out our Legal Opinion, written by Head of Crypto Capital Formation Practice, Lex Futurus Group, Boulevard A. Aladetoyinbo, Esq.