Here are some of the questions we get often:
What are the nonprofits you have onboard to which you claim SA will donate “2% of corporate profits” to? Or are even aiming for?
Due to the sensitive nature of our user information, we do not share any listings of participators. This is to ensure the safety and integrity of our communities. The value of our many religious organizations, child education institutions, and disaster relief initiatives should not be associated with the volatile nature of the cryptocurrency market through us. We maintain a private aggregate dashboard to educate the community, but we will never collect keys, addresses, transactions, balances, hashes, or any personal information of our users.
How will “corporate profits” be defined? Why not 2% gross instead, to ensure these funds reach the intended communities?
For the sake of simplicity we do use the term “corporate profits” in our corporate white paper, however you will find in our accompanying Technical Specification Whitepaper, that there is a distinction between shares of the company and shares of the token transaction fees. Officially, “corporate profits” refers to figures listed on income statements and balance sheets of the SableAssent Coin Corporation for profits made from the manufacturing and distribution of our physical master node servers. These master nodes are only available to business and government entities who have gone through a rigorous verification process with us in order to firmly establish our private consortium network. For more information on how our Private Node Network will work, please review the technical specification documentation provided.
For a whitepaper, there’s barely any mention of the actual technology. What’s the blockchain upon which this coin is based?
SAC1 is an Ethereum based token made under the ERC-20 token specification. As previously mentioned, much like many of our counterparts in the ‘Distributed Ledger Tech’ industry, we actually have two white papers available. The document you refer to is our Corporate Whitepaper, the information you request is readily available in our Technical Whitepaper. Please visit our site here https://sableassent.net/whitepaper/ to review them both at your leisure.
How many of the 100M pre-launch coins were sold?
Currently our total circulating supply of SAC1 is 299,159 SAC1 tokens. You can verify this information in real time using this link: http://totalsupply.thesablecoin.com/
Did SA launch in April 2020, as per the whitepaper? If not, why?
No, SableAssent Coin Corporation was established on October 17th, 2017. The SAC1 token, however, was in fact launched on the Ethereum Main-net in April of 2020. There is a distinction between the company and the token.
With the current SEC crackdowns on ICOs and pre-mined coins as securities, what assurances or information can you give potential investors that SA isn’t a security or subject to SEC security punishment?
We have no worries about the SEC crackdowns on ICOs because our token is uniquely positioned in the market as it serves a specifically underserved demographic. The SAC1 token is a utility and not a security. Everything we do is completely legal and we’ve gone through the appropriate regulatory steps to ensure the highest level of integrity for our people. Had you been able to actually purchase the token at our original Token Generation Event, you would have been provided with an official SAFT Agreement. This is a legal form detailing the measures we’ve taken to secure your token.
In Section 3, the SAC SAFT Agreement explains the purpose and use of the token:
“…Company is developing and deploying a decentralized global network that runs on the Ethereum platform that will connect black owned for profit and not for profit businesses with consumers world-wide. SAC is a decentralized ERC20 utility token that Company is selling in the TGE that will allow access to the premium services, features, and functionality of the SABLEASSENT Global Black Network.”
In Section 6(b) of our SAC SAFT Agreement it states:
“…The Purchaser has been advised that the Token described in this instrument is not a security as determined by the regulatory authorities of the United States under the Howey Test and that the offer and sale of this instrument have not been registered under any country’s securities laws and, therefore, cannot be resold except in compliance with the applicable country’s laws. Accordingly, no United Stated or other financial regulatory authority has passed upon the contents of these Terms or the merits of purchasing SAC, nor have these Terms been filed with, or reviewed by, any United States or other financial regulatory authority;”
We maintain the privacy of our Global Network of users, therefore this information would not have been made available to anyone without properly going through KYC procedures.
If 400M of the coins are in lockup to be “mined” 1% a year, why are 200M of the 600M remaining active coins going directly to SableAssent staff?
The confusion may stem from the technical configuration of SAC as it is actually two separate tokens, SAC1 and SAC2. SAC1 is public and SAC2 is private. Below are the ‘Tokenomics’ that were laid out by our CEO, Mr. Daryl Speaks, in 2018 for SAC. You can verify the current holders of the token here: http://richlist.thesablecoin.com/
We have two custodians to hold token safe. We have made the appropriate changes to the smart contract at the bottom to address the following:
1 billion market cap:
600 million Pre-Minted (SAC1)
400 million Mined over 400 years on private nodes (SAC2)
-100 million- Early endorsements, Early token holders (Pre-minted)
-100 million- Token Generation Event for consumer purchase(Pre-minted)
-200 million- Corporate Officers and Assent Team members (Pre-minted)
-200 million- Asset Holdings for Community Improvements across (Pre-minted)
-400 million- 400- Year Supply mined across the node system in our private network 1% per year. (Mined over 400 years on Private Nodes)
SAC1 PUBLIC SMART CONTRACT:
Why so much?
It may seem like a lot but Sable Coin has a 18 digit decimal. Also, we serve the Black community of which happens to exist in every corner of the world. We intend to have staff and ambassadors in every country served, therefore our accounting department calculates prudency in the reserve of 200 million SAC1 for future staff and ambassadors as needed. This amount is held in cold storage by our custodians until we expand.
What are the 200M “Asset Holdings for Community Improvements across the world” for? What are some examples for what these funds will be deployed?
A great example we are currently working on is https://thelakecharlesproject.com/
Daryl Speaks has personally been on site for our communities in the Louisiana hurricane threatened regions who have still not been able to rebuild and restore from the onslaught of natural disasters in recent years.
What does “Sable Assent” mean?
Sable Assent literally means, “Black Agreement”, our CEO says it means “Black Empowerment”, because if we can all come together and agree on something, (not even everything) then we have a fighting chance of sovereignty in this corrupt world.
I do not believe in simply “Buying because Black…”. Why should I get your token?
You are correct in thinking that “because Black” is not a business model. Still, when other cryptocurrency tokens presented by Europens that have absolutely ZERO utility hit the market, THEY SUPPORT THEIR OWN, regardless! We do not require that you choose SAC because it’s established by Black people. We’ve done exceedingly more work than many of our counterparts on all fronts till this day with little to no funding whatsoever. Ironically, we understand why we do not have the luxury of relying on the support of the very people we intend to empower with our platform. Since our corporate establishment in 2017, we’ve seen at least 5 non-utility ICOs hit the market and each one receive hundreds of millions of dollars in a matter of days for nothing more than simply writing a “Whitepaper” much more vague than our own.
Why does it take so long for someone from your team to respond to support requests?
Please forgive us for not responding to inquiries in the manner or time frame expected. Our CEO, Daryl Speaks, travels around the world making business partnerships with powerful people IN REAL LIFE, such as government officials of Ghana, Nigeria, Kenya, Liberia, Jamaica, Haiti. Mr. Speaks has even presented the SableAssent platform in the halls of the United Nations!
What have you gotten done?
In the tech department alone, we’ve been moving forward building the SAC Wallet which is now available on both of the most popular mobile platforms:
Our SAC1 token is currently available on three Global Exchanges:
SAC2 is not yet available.
Hopefully, these answers have cleared up the confusion about SableAssent.
We consistently move forward because we do not waste time responding to every social media comment on every network. We actually have our own social media network where we provide further support at: https://community.sableassent.net
With that said, we remain vigilant because we stand on the shoulders of our ancestors with pride, dignity, and integrity. As the Honorable, Marcus Garvey, so eloquently orated in his famous “In A Whirlwind” speech, “Be Black, Buy Black, Think Black, and all else will take care of itself.”