17. Use of proceeds
Developing Candao world
The proceeds from the sale of Priority Passes (see section 5.1 – 5.3) will be mainly used for developing the functions of Candao protocol in line with the indicative product roadmap presented above. These include the operational costs, which are the keystone of any business. In addition, Candao must incur marketing costs.
Candao is not a listed company nor has it access to unlimited credit. As any startup, it faces many barriers in collecting funds necessary for the development of Candao protocol and Candao network. To surpass these barriers, Candao must use the most efficient marketing method as well as must pay for this. This is the reason to use the network marketing structure.
The total compensation of the marketing network members can reach up to 25% of the proceeds from the sale of Priority Passes before the TGE. The additional 10% is allocated to cover the marketing budget in the pre-sale phase.
Candao intends that after the Token Generation Event (section 5.3), members of the network will be eligible for referral rewards (section 13); the details of this feature will be developed and notified in due course.