Interview with Simon Lee, Kexcoin Founder and Visionary.
What challenge is Kexcoin addressing?
Purchasing property and specifically raising capital to grow a business is heavily restricted by banks who in effect have a monopoly and can choose at will, who can purchase property and who can’t. Kexcoin will open up a new dimension of how property can be funded and also how it can repay the participants of the crowd fund, spreading wealth amongst the many and not the few. What we are proposing and the method of distributing profits is groundbreaking as it has never been done before.
What is the scale of this challenge?
The scale and challenge is huge as not only will it disrupt an entire industry but on the flip side we have to present to a tech savvy crowd that are more interested in high tech innovation. While we do not fit this mould we can be considered the safer option as we have a 40 year old company backing us and not simply an idea from a start up.
How does Kexcoin turn this challenge into an opportunity?
Kexcoin represents the shift from the old paradigm of property ownership to the new world
of worldwide shared inclusion. What is currently a point of resistance (raising funds) can open up an entirely new market, away from the control of banks.
Can you showcase some team members/advisors which have a strong background? What is their connection with this particular project?
Chris Coney host of The Cryptoverse and founder of Cryptoversity the online school for Bitcoin, cryptocurrencies and blockchains. Consultant to the Peerplays Project during their inception and their 2 successful ICO campaigns, is our CTO. Other members of the team such as Richard Stott and Mike Lee are directors of Kexgill Group, an award winning student accommodation provider of 39 years (please see kexgill.com and http://kexgill.fredsite.co.uk/kexgill-review-2016/).
Does Kexcoin have any strategic partnerships?
The Kexgill group who could be seen as strategic partners are a 39-year-old award winning student accommodation company. They will be providing management services for Kexcoin. Please refer to http://kexgillgroup.com/ for full details.
What are the pros and cons of Kexcoin when taking into consideration Brexit?
Pro: Due to the unique way we will be funded, we are not effected by fluctuations in interest and other economic factors as we are not beholden to the banks. The UK university system is highly regarded around the world and sterling has become weak due to Brexit. This makes the UK more attractive for an international student.
Con: Brexit brings uncertainty and is likely to restrict UK growth in the short term / medium term.
What yield is expected from Kexcoin?
There are no guarantees whatsoever that Kexcoin will generate a yield. However, investors can consider the following:
- Gross yields for property student rentals tend to be between 8% and 15%.
- Property price inflation in the UK over the last 30 years has been over 25% per annum in
some instances. Clearly, this should not be considered as something which will continue in the future.
- FM or Facilities Management costs are usually around 25%-30%.
What is the structure of the ICO? (Bonuses, Dates, Market Cap)
- Starts 15th September and finishes 14th October.
- There will be 10m kexcoin in existence until the buy back / burn is first implemented at which point the number of kexcoin will begin to reduce.
- 8.5m Kexcoin will be available for the token sale / ICO at a price of 0.0025BTC or above.
- At today’s BTC rate, assuming that all kexcoin are sold and at the flat rate of 0.0025BTC and not above, the market cap would be approximately £75-£80m
What are the requirements to participate in the ICO?
Anyone can participate (excluding US citizens)
What are the pros and cons for the token holders?
Anyone that participates in the ICO after the snap shot (taken 48 hours after the ICO closes) will be entitled to a share of the property uplift value, regardless of if they hold or sell their kexcoin at that point. They only need to have participated in the ICO and the snapshot.
Final token holders will also be entitle to a share of the uplift in property value. If a participant is included in both snapshots they will be entitled to both shares.
Rental profits will also be used to buy back and burn tokens from the market on a quarterly basis increasing liquidity.
Therefore a token holder can dictate what they would like to receive for their token holding.
Was there a pre-ico?
We have no pre-ICO although orders can be placed in advance on the Bitshares network.
What is the price of the pre-ico and the price of the ico?
ICO price will be 0.0025 BTC or above
How many tokens will be issued?
10m tokens issued. 8.5m tokens for sale
Is there a cap on the ICO? 8.5m kexcoin
What is the founders reward or allocation?
10% of total (1m kexcoin if the ICO fully sells out, otherwise lower) split between 4 directors
Would you like to add any further info?
Kexcoin will also be used as a currency / commodity and will be accepted for any kexcoin or kexgill group owned properties towards rent payments. Over the longer term we hope to roll this out to other service providers.
For more information please visit: Kexcoin.com
We thank Simon Lee for the interview.