AUTOBAY - BUY YOUR FIRST CAR WITH ETHERUM

INTRODUCTION
Autobay is the first ecommerce platform based on the Ethereum blockchain that allows users to sell, buy and auction cars using cryptocurrency as payment method. Autobay will become the largest automotive environment in the world whose main objective is to create legitimacy to the cryptocurrency market by allowing the use of Bitcoin (BTC), Ethereum (ETH) and Autobay Tokens (ABX) as a Financial Asset to acquire goods.

BACKGROUND
In almost 10 years from 1997 to 2006 the automotive industry almost duplicated its’ production, from 54,000,000 units to 94,000,000 units produced in one year. The automotive industry works on two main business unit, new and used vehicles. The increase in population around the world that can now access to buy a vehicle, either a truck or family vehicle and those people that sell their used cars to purchase a new one. This two groups combined create an industry of over $ 3 Trillion (US Dollars) a year.

On the other side, through the expansion of internet and the increase of Smart phones (reaching 1 out of 3 people in the world) ecommerce platforms have become the faster and simpler way to sell goods of any kind, and vehicles are not the exception.

THE PROBLEM 
Like in Real Estate, in the Automotive industry buyers and sellers transact large amounts of FIAT currency every single day. Purchasing a new or used vehicle, implies that large amounts of FIAT currency is changing hands on a daily basis. In many instances, this is done in cash. Securing a down payment, buying or selling to or from a private citizen, making a deposit to a financial institution or dealership, this exchange is no less than risky, stressful, and insecure.  

THE SOLUTION 
Cryptocurrency Payment 
Autobay is a decentralized ecommerce platform that allows users to promote their vehicles for everyone to see them online allowing users from all over the world to purchase such vehicles using cryptocurrencies as a payment method. Autobay creates a much simplified, safe experience when buying a vehicle, allowing people to buy a car in just 3 easy and safe steps. Step one, the person has to browse for the car they want, using filters that shorten their search to specific brand, model, year, millage, price range and location (radius in km). Step two, when a person finds the car they want, either new or used, they just click in button that appears in the publication that says I’m interested, entailing that they are willing to visit the location where the vehicle is, in order to assess the car. By pressing the I’m interested button, both parties, seller and buyer receive each other’s profile information. In this way one of the factors creating uncertainty is diluted given the seller knows who is selling the car and can see previous reviews of other users who have bought from him in the past and private sellers know who to let into their homes. 

FINANCIAL MODEL 
Main provisions and assumptions of Autobay´s financial model.

• Operating expenses are covered with Autobay´s profit and fixed capital; 
• Company profit is comprised of: 

1. User (DApps) payments for publishing vehicles within the platform, 
2. Company´s advertising on the platform (mobile and web). 
3. Company´s lending Autobay (ABX) Tokens to third party lender to provide buyers with financing.  The fixed capital of the company is comprised of the cryptocurrency assets raised during the Token Sale. 

• Main expenses: 

1. Project team salaries (including in house development) and associated costs (office and equipment rent, taxes); 
2. Marketing costs – attracting new users; 
3. Listing on exchanges; 

• The main factors affecting the financial state of the company are: 

1. The number of users (DApps) and their demand for the service; 
2. Cost per user (user acquisition); 
3. The number of dealerships and private sellers supplying vehicles to the platform. 

• Amount of vehicles published within the site increases in direct proportion to amount of countries and exponentially given increasing acceptance and expansion of the platform. 
• Estimated maximum number of vehicles published in platform per country is 67,500 on Basic Scenario (per Quarter at year 5). We are defining a 45% security margin over the smallest market leaders as seen on case study of MercadoLibre.com.ar (+ 120,000 vehicles published in Argentina), MercadoLivre.com.br (+175,000 vehicles published in Brazil), Autotrader.co.uk (+450,000 vehicles published in the United Kingdom), Autotrader.com (+3,500,000 vehicles published in USA). 
• Interest rate provided to Autobay, as lender of Autobay Tokens (ABX), by third party lender was set on 3% as a conservative approach. Such rate will vary depending on the timeframe set for the repayment of the loan and could raise up to 6%. 
• When launching the platform in a new country prices will have promotions to create engagement from people therefore in the following table average publishing price between, Bronze, Silver, Gold and Platinum is $15 at year 4 and 5, and start at a +50% discount in first year.

FINANCIAL STATEMENT - Basic Scenario

FINANCIAL STATEMENT - Conservative Scenario

FINANCIAL STATEMENT - Aggressive Scenario

TOKEN INFORMATION

PAYMENT METHOD
Only Bitcoin (BTC), Ethereum (ETH) cryptocurrencies are accepted to buy Autobay Tokens during the Presale and Crowdsale.

TOKEN FLOW OVERVIEW
The specific flow of ABX Tokens would differ between people who acquired them during the Public Sale process than between people who will have to acquire them once this one has finished given that they would do so without any bonus rewards and at a higher cost. In order to purchase them they would do so from other ABX Token holders in third party marketplaces and exchanges. Once the Public Sale is over ABX Tokens will appear in a number of Cryptocurrency exchanges allowing anyone who hasn’t bought ABX tokens, the possibility of acquiring them. The exchanges targeted for token placement are: Bittrex, Kraken, Coinbene, Cobinhood, Bitfinex, etc. Once the Token Sale has ended, No new Autobay ABX Tokens will be created. 

ECONOMIC MODEL 
Autobay has a fixed supply of 945 million Autobay Tokens (ABX). The entire supply of tokens will be issued at the beginning of the token sale and no new tokens will be created after this instance. Therefore, creating a limited supply. In order to understand the scarcity and exclusiveness of the Tokens created, the Hard Cap at the Public Sale will be of $ 9,000,000 which divided between an average price of $20,000 per car would only allow 450 cars to be sold within the entire platform at Token Sale price. In order to understand the scale of this number Toyota sold in 2016 only in the United States 223,000 new cars.

ABX TOKENS REVENUE USAGE
The revenue generated by the company through car publications and advertisings will be used accordingly for the Operational Expenses of the company, growth of the brand and awareness on different markets (Marketing) and to support Discounts, Promotions that will create user engagement to the platform.

PRESALE AND CROWDSALE OF TOKENS
Any person wishing to contribute to Autobay through purchasing Autobay ABX Tokens will have to Register in the Autobay website (www.autobay.io) and take KYC process in order to get an email confirmation with a password allowing him to enter the Autobay Members area to access contribution addresses to pay with BTC and ETH.

BONUS SCHEME

• PRIVATE SALE o Bonus is of 47%. Starting May 9th at UTC 08:00 am. until September 19th 2018. 
• PRESALE o Bonus is of 27%. Starting September 20th at UTC 08:00 am. until November 20th 2018. 
• CROWDSALE o Bonus is of 0%. Starting November 21st at UTC 08:00 am. until December 10th 2018.

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