Market Overview

The Poseidon Foundation Announces Fundraising Timetable Ahead of Platform Launch

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The
Poseidon Foundation
("Poseidon") is pleased to announce the
timetable for its year-long public fundraising phase which encompasses
three token sales ahead of the platform's official launch in August
2019. The first token sale will launch on 16th June 2018 and
will last six weeks ending 29th July 2018. The second token
sale will be launched on 3rd November 2018 lasting four weeks
and the third token sale will launch on 4th May 2019 for two
weeks.

Poseidon is a non-profit which uses blockchain technology to integrate
carbon markets into transactions at the point-of-sale, giving
individuals and organisations the opportunity to rebalance their climate
impact by supporting forestry conservation projects around the world
when they buy and sell everyday items.

During the three sales, 18 billion OCEAN tokens will be available for
purchase. OCEAN is a single utility token that provides access to carbon
credits through the Poseidon platform. Using OCEAN tokens, platform
users will be able to offset the unavoidable climate impact of their
businesses and everyday lives. During the first raise, OCEAN will be
available for purchase at a 35% discount against the token's internal
value, until 29th July using Stellar Lumens, Bitcoin, and
Ethereum.

The internal value of OCEAN will be derived from an external and
independent benchmark of the total value of the global carbon market,
which is currently estimated to be approximately €8.64 billion. 36
billion OCEAN tokens will be issued, each with a value of €0.24.
Contributors to the token sale will enjoy discounts against the launch
value, as outlined in the schedule below.

As a non-profit foundation, Poseidon will use 80% of the funds raised
from token sale to purchase carbon credits for the platform. The
remaining funds will be used to cover operational costs, including
further development of the platform, R&D and the onboarding of new pilot
projects with retailers. Should contributors prefer, there will be an
option to make charitable donations to Poseidon. In the case of
charitable donations, 100% of the funds committed will be used to
purchase carbon credits and directly support forest conservation
projects in the rainforest. Laszlo Giricz, founder and CEO of Poseidon,
said, "The first token sale will be the culmination of months of hard
work by our talented team. Our platform is the first of its kind to
truly put consumers in control of their own carbon footprint when buying
anything from a cup of coffee to a litre of fuel."

"We are already operational at Ben & Jerry's Scoop Shop in London where
we have protected over 1,500 trees in just over a month. This represents
a small example of the positive environmental impact the platform could
deliver across multiple retailers."

ENDS

Notes to Editors

The three OCEAN token sales will be scheduled as follows:

First token sale

 

Second token sale

 

Third token sale

Duration: 6 weeks

Duration: 4 weeks

Duration: 2 weeks

Start: 16 June 2018, noon GMT

Start: 03 November 2018, noon GMT

Start: 04 May 2019, noon GMT

End: 29 July 2018, 11:59 PM GMT

End: 09 December 2019, 11:59 PM GMT

End: 19 May 2019, 11:59 PM GMT

Token Discount: 35%

Token Discount: 20%

Token Discount: 5%

Token Price: €0.1560

Token Price: €0.1920

Token Price: €0.2280

About Poseidon

Poseidon is a non-profit foundation that empowers individuals to
rebalance the climate impact of their lifestyle choices with a
breakthrough approach. Using blockchain technology, it integrates carbon
markets into everyday retail transactions at the point-of-sale and
allows users to track the positive impact of their transactions on
individual forest conservation projects. This will transform people's
relationship to their carbon footprint, encourage vital behavior change
and unlock the considerable growth potential of carbon markets to
effectively address climate change.

To find out more about Poseidon - https://poseidon.eco/

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