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Galleon Quest ICO

There exists more treasure at the bottom of the ocean than in all bank vaults in the world.

-Dr. Lee Spence, Lead Archeologist with Galleon Quest

Galleon Quest IO - The most adventurous and potentially profitable ICO of all times, aiming to recover and preserve ancient sunken treasures as assets. You can OWN a portion of these treasures by buying SEA Tokens. Don’t miss your opportunity to participate in real treasure recovery!

Disclaimer

-80%

1 SEA
0.00014 ETH
0


March 13th

Pre-ICO
On Going

-60%

1 SEA
0.0002 ETH
$0.08


April 15-29

Pre-Sale 1
15 Days

- 50%

1 SEA
0.00022 ETH
$0.10


April 30-May 14

Pre-Sale 2
15 Days

-40%

1 SEA
0.00028 ETH
$0.12


May 15-Nov 15

Pre-Sale 3
15 Days

-30%

1 SEA
0.00032 ETH
$0.14


Crowdsale

White Paper


  • United States Flag

Introduction

There comes a time in every rightly-constructed boy’s life when he has a raging desire to go somewhere and dig for hidden treasure.

-Mark Twain, The Adventures of Tom Sawyer

Galleon Quest Advantages

Galleon Quest's projects will be implemented by an expert team of marine archeologists with the total over 120 years of experience in the underwater recovery industry

Galleon Quest’s position and function in any partnership will be resolute that only the very latest and proven technologies will be utilized on any given wreck site.

Selection of projects will be based on both historical research and scientific underwater survey of previously located shipwrecks.

Galleon Quest only partners with entities that have all the necessary permits and rights in order.

Galleon Quest plans to direct up to 20% of recovered assets to buying back some SEA Coins from coinholders, thus eliminating these coins from the market, lifting the value of each SEA Coin.

Galleon Quest presently has rights to potentially lucrative and proven wreck sites.

A Market Unlike Anything On Earth

Recently, it was announced that a private investment group was backing the recovery of the San Jose, a historic treasure laden wreck off the coast of Columbia. The on-board treasure included in its documented cargo in the form of gold, silver and precious gems is estimated to be between $4 billion and $17 billion, making the San José potentially the most valuable shipwreck in the Western Hemisphere.

For three hundred years, the Spanish and others, pillaged the New World of its treasure, shipping the riches in thousands of ships over time back to Europe for the enjoyment and funding of those who never earned any of it. Along the way, an estimated one out of ten never made it home. The estimates of the lost treasure from these ships in the Caribbean and off the coast of Florida alone is conservatively placed at $60 billion or more. The number of shipwrecks that have been found and harvested for their holds are significantly less than those that are still out there. The most obvious and predictable sites we will target are those with historical records attached, prior finds made, clear legal and permitting available and most importantly, a partner on the site that we want to be in business with. While we could find these opportunities outside of U.S. waters, we are seeking the predictability of being within U.S. waters which lends to our ability to safeguard our investment and control over the operation decisions.

Amounts of Treasure is Enormous

The numbers of shipwrecks that lay on the ocean floors is in the hundreds of thousands of vessels. No one really knows all the ships over time that were lost at sea. However, the advantages we possess are the ability to seize on, decipher and refine research that was well documented within the historical archives for the vessels at sea by Spain, Portugal, France and others.

Vector Image of a Galleon

San Jose Shipwreck, from $4 Billion to $15 Billion Estimated

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Ship of Gold $100-150 million

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Atocha Motherlode $900 million (The Mel Fisher Wreck)

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Antikythera Treasures $120-160 million

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Treasure of the S.S. Republic $120-180 million

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Blockade Runner Georgiana $50 million

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British Treasury Ship $200 million

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Whydah Gally $400 million

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The Black Swan Project $500 million

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Salcombe Shipwreck (Still being valued)

Galleon Quest mission is to recover, expand and hold the recovered assets from treasure recovery sites, historic shipwreck operations and historic shipwreck recovery projects in different parts of the world.

Current & Ongoing Projects

Project - CR

The Project-CR shipwreck site is actually a cluster of shipwrecks. Although most have yet to be identified, it is believed they include Spanish, French, English, German, and American merchant ships, slavers, and even a couple privateers, which were lost over a period of several hundred years.

Project - L

The Project-L shipwreck site is another cluster of shipwrecks, several of which have already produced major treasure finds for other salvors in the not too distant past. Located off an archipelago that is situated along a once major route for both merchant ships and treasure galleons, Dr. Spence was able to dive on, file a salvage claim, and obtain a court order recognizing him as the exclusive owner of the remaining wreckage in the cluster.

Project - J

The Project J Shipwreck site is a shallow wreck site area that has current rights in place for exploration and for recovery. This site is one with a history going back a number of years, with a lot of historical artifacts being recovered. The legal status of the site is settled, with necessary permits either in place or within short order from being issued. Nevertheless, we can begin working on this site through use of newly available scanning technologies in order to come to a speedy conclusion on whether not we will partner on this site.

Project - K

The Project K site is one that has a much more defined potential target, since the identity of the vessel may have already been established. Significant artifacts have already been recovered from the area, but due to issues revolving around former holders, government bodies would not issue the necessary permits. However, a new potential partner for GQ has taken over the management and permitting of the site, and thus far they have successfully received the required permits and rights. The area has a proven history of recovered objects, but like Project J, there has not been use of the new technologies available.

Galleon Quest Roadmap

  • October 2016
    Galleon Quest inception
  • December 2016
    Galleon Quest incorporated
  • 2017
    Multiple treasure sites researched
  • October 2017
    ICO Concept plan written
  • December 2017
    Published white paper
  • December 2017
    First expert, Dr. Lee Spence enters agreement with Galleon Quest
  • January 2018
    Signing of marine archaeology exper James Sinclair
  • Februaury-March 2018
    Pre ICO phase
  • March 2018
    First multiple shipwrech site agreement for Carolinas, for $1.5 for 50% of artifacts and treasure
  • April 2018
    Pre-sale offering
  • May 2018
    First salavage and survey diving to be conducted, first recovery projected
  • June 2018
    ICO listings for GQ SEA Coin
  • June-July 2018
    Full operation for salavage and search at first sites Carolinas
  • June 2018
    Survey and search operations on existing site from Florida East Coast, up to $1,000,000 for 20% of site recovery
  • August 2018
    Second operational site project for shipwrech Bahamas

Steps for Success

1

Research

2

Scanning

3

Permits & Govermental Approvals

4

Search

5

Recovery

6

Post-Recovery Conservation

7

Hold Assets-Sales

Galleon Quest Difference

Permits and Governmental Rights

GQ’s first priority are sites that are already secured, if around the U.S., by older Federal Admiralty Claim. If in international waters, the Admiralty claims can be made without need of any local or state permitting. Inside of U.S. waters the treasure recovery business can be highly regulated under state laws, domestically, due to the Abandoned Shipwreck Act of 1988, which granted control and governance over wrecks located within three miles of state boundaries.

Search

Most operational projects begin with extensive research as a preliminary measure. On any site that GQ becomes involved with, it will have met that burden at the outset. Then, if it is an established, proven site where wreck materials and artifacts, being valuable or no, have already been found, we may engage the target.

Recovery

GQ will operate under appropriate permits and claims, and once a target is positively identified, excavation and recovery operations will begin under expert archaeological supervision.

Post-Recovery Conservation

Coinage, precious metals and non-ferrous metals typically require an amount of post-recovery conservation.

Sales

We intend to establish values with our working partner for such coinage, precious metals, jewelry, gems and bullion for appropriate division.

Galleon Quest SEA Coin

GALLEON QUEST.IO (SEA) is a special purpose entity, registered in Nevis, as an ICO friendly jurisdiction with a single purpose to invest into shipwreck recovery operations around the world.

Upon the results of the ICO, GALLEON QUEST.IO will issue restricted coins to the coin holders and move the money into Galleon Quest, LLC for the funding of various projects with contracted rights negotiated and held. A portion of the recovery will be used to buy back SEA Coins and burn them from future use, thus decreasing the outstanding coins in the market. 280,000,000 Coins will be sold in the ICO and no more will be available.

Galleon Quest mission is to recover, expand and hold the recovered assets from treasure recovery sites, historic shipwreck operations and in historic shipwreck recovery projects in different oceans and locations around the world.

Map of the coin buying process
  • Register on https://ico.galleonquest.io/registration
  • Verify Your Email
  • Complete User Profile Details
  • Select Investment Method
  • Purchase Tokens
    • Ethereum Method
    • Transfer ETH to your Personal Wallet
    • Purchase Tokes
    • Coin Payments
    • Choose Payment Method
    • Complete Payment
  • Tokens show up on your wallet on the dashboard

ICO Terms

Start Data To be announced
Duration of Coin Sale 75 days
Price of SEA Coin $0.20 per coin or 5,000 SEA Coins per 1 ETH or 32,000 SEA Coins per 1 BTC (as 04/15/18) - Subject to change
Hard Cap None
Soft Cap – Early Termination 10,000 ETH or $4 million USD
Technical limit to the number of coins 400,000,000
Unsold Coins Unsold and unallocated coins will be reserved
Further Coins Issues Not at this point
Methods of coin purchase Bitcoin (BTC), Ethereum (ETH), and others
Minimum Cap $500,000 USD, all funds will be returned
Coins activation date To be determined

Coin Distribution

60,000,000 15% Founders & Team
10,000,000 2.5% Advisors
10,000,000 2.5% Early Investors
40,000,000 10% Reserve Controlled Fund – Used for Loyalty & Exchange Stability
Total 30% 120,000,000
200,000,000 50% Pre-Sale for 45 Days
80,000,000 20% Crowdsale for 30 Days
Total 70% 280,000,000

The price of SEA Coins will be on a sliding scale based on how early they are purchased:

Coin Distribution

Coin Distribution Pie Chart
  • 50% - Pre-Sale
  • 20% - Crowdsale
  • 30% - Team & Reserve:
    • 15% - Founders & Team
    • 10% - Reserve Controlled Fund
    • 2.5% - Advisors
    • 2.5% - Early Investors

Fund Allocation

Fund Allocation Pie Chart
  • 55% Research & Development
  • 25% Infrastructure
  • 13% Operations
  • 5% Contingency
  • 2% Legal

SEA contracts:

  • Implement a standard ERC20-compliant token SEA
  • Only Pre-sale SEA Coins exist before the ICO, and no additional SEA Coins beyond those created in the ICO itself can ever be created.
  • Utilize Multi-Signature wallets for processing and hardware wallet cold-storage for ETH
  • Allows verification of the total coin supply
  • Allows an emergency halt to occur should any part of the ICO or Blockchain require it
  • Complies with the latest compiler version and deprecated Throw recommendations
  • Is fully regression tested, security audited and peer/crowd-reviewed with bug bounties

Liquidation

SEA Coins that are purchased by the public will be delivered as soon as ETH or BTC (or other Cryptos) is received. The SEA Coins will be immediately listed on major exchanges after the completion of the ICO.


Team/Advisers

GALLEON QUEST projects will be implemented by an expert team with many years of experience in the underwater recovery industry. For example Dr. E. Lee Spence, who will be part of the team, was one of the pioneers of underwater archaeology and has over 50 years of experience, that includes a number of major discoveries.

Legal Services

Legal Services are being provided by ICO Legal and Consulting, LC (ICO Legal). ICO Legal has experienced litigators, trial attorneys and securities counsel, with over 40 years experience, over 200 trials, and have represented over 100 companies in all offering and legal matters. ICO Legal oversees all knowable compliance in this new and evolving field.


Galleon Quest – Frequently Asked Questions

What is Galleon Quest?

Galleon Quest IO (GQ) is an international investment group for the funding of treasure recovery projects in shipwrecks around the world. Galleon Quest will receive part of the treasure which it will hold as assets or sell part of for reinvestment in its crypto market, creating the first treasure backed crypto currency in the form of the Galleon Quest SEA Coin.

What is the Galleon Quest SEA Coin?

Galleon Quest’s SEA Coin will be an electronic crypto currency that intends to be traded and available for purchase through Galleon Quest ICO sale. After the SEA Coin is ready for release, it will be listed and sold on multiple exchanges.

Is the SEA Coin a Security?

Under U.S. Securities laws, Yes. That is why we are registering the offering under the Securities Act, Section 506(c) as to sales to U.S. Investors who must be accredited investors. Such SEA Coin is subject to applicable securities laws for U.S. Investors, including a holding period as set out in the prospectus and other documents.

How many Galleon Quest SEA Coins will there be?

There will only ever be 1,000,000,000 SEA Coins, which is hard wired into the Smart contract that controls the crypto currency. The Company does have the right to increase this amount before the ICO offering, but only in proportion to the offering price. Offering price is set at .20 per coin.

Do I need to be an Accredited Investor to Purchase SEA Coins during the ICO Offering?

Yes. During the ICO Offering only accredited investors from the United States will be allowed to purchase. Outside of the U.S. is a different standard.

Is there a Holding Period for the Galleon Quest SEA Coin?

Yes, for U.S. investors. Once the SEA Coins are prepared and listed on Exchanges, it can be transferred to the U.S. Investor. They are subject to the holding period as agreed by the investor for a minimum of six months.

Does GQ Hold Rights to any Suspected Treasure Sites Currently?

Yes. GQ has contracted rights to a number of shipwreck site areas including ones with proven shipwrecks in the area. Some with a limited amount of shipwrecks and some that may have a high number of shipwrecks in the area. However, under our model, we will not be tied to any certain sites since we will research and fund sites around the world.

How Many Galleon Quest SEA Coins will initially be sold?

In the Pre-ICO Phase there are up to 20,000,000 SEA Coins for sale to private investors. During the ICO Offering there will be up to 300,000,000 SEA Coins sold. The remainder outside of Team and Advisors will be held for bounty programs and secondary matters.

Can the SEA Coin be “Mined” Like other Crytpos?

No. The GQ SEA Coin is a base crypto currency that is not divisible and can not be mined like other crypto-currency.

What Gives Value to the GQ Sea Coin?

Galleon Quest’s SEA Coin value will be created through market forces related to what Galleon Quest holds as recovered assets from shipwrecks, the prospects of future recoveries from existing and future shipwreck sites, and liquidity of trading of the GQ SEA Coin, among other factors.

What is Galleon Quest SEA Coin?

Galleon Quest is a blockchain ecosystem making marine archaeology and treasure hunting more inclusive and decentralized. For the first time ever, people around the world can participate indirectly in treasure hunting expeditions through tokenization of the assets from search and recovery efforts. And, through our decentralized applications (DApps), Galleon Quest provides a secure and transparent recovery backed crypto-currency.

What problems does Galleon Quest solve?

Very few people are able to participate in the treasure recovery processs. Galleon Quest SEA Coins solves that problem by eliminating barriers to entry for people who want to participate in an investment for marine archaeology recovery, and something that is reflective of the treasure and artifacts that can be recovered.

Does Galleon Quest have competitors?

Currently Galleon Quest is planned to be the first-to-market crypto currency which is backed by recovered treasure and artifacts. There are treasure recovery companies, but none with an ICO backed by the treasure recovered. There is an archaeological auction to buy and sell treasure, but is not similar to Galleon Quest.

What makes you unique from other marine salvage companies?

For starters, we are not a marine salvage company at all. We are a salvage investment company. That means we will not invest in a treasure site unless they prove to us the best viability of recovery. That way we are not locked into a site or set of people, but instead make the best choices of the most promising sites.

What if you do not recover any treasure, what happens then?

This is quite simply the biggest risk factor. Even though we plan to go after multiple sites that are proven, there is never an assurance that we will recover treasure or large amounts of treasure. Read our prospectus and risk factors before making any investment decision. This is not for the faint of heart.

Can you mine Galleon Quest Coins?

Galleon Quest coins cannot be mined.

As a Holder would I have rights to Artifacts and Treasure?

As a Galleon Quest coin holder your will not have direct rights to ownership of recovered treasure, however we may make portions available for certain level holders or purchasers.

Do I have to do registration and KYC?

Yes, it is mandatory for U.S. Citizens or Persons. Please make sure you register and provide all required KYC documentation.

Can I send ETH from an exchange address to buy tokens?

No. DO NOT use crypto currency exchanges like Coinbase, Binance, Huobi or others. You MUST send from an ERC 20 compatible wallet such as MyEtherWallet, ImToken, etc.

What is the minimum investment?

Private sale 10,000.00 USD Minimum. During the Pre-ICO and Crowd Sale there will be a $1,000.00 USD min on coin purchases.

How can I be part of the private sale?

A minimum 10,000.00 USD investment is required for the private sale. Please contact us directly at info@GalleonQuest.io for more information.

Are all investors welcome to participate in token generation event?

For the most part, yes. For residents of the United States, we can only accept accredited investors under U.S. Securities laws. OFAC sanctioned countries are NOT permitted to participate in our token sale. For more information on OFAC listed countries please visit, U.S. Department of the Treasury

Which exchanges will Galleon Quest be listed in?

While we have no control of any decentralized exchange listing for the Galleon Quest SEA Coin, we will be talking and negotiating with major centralized exchanges to list the Galleon Quest SEA Coin. For regulatory issues, we cannot comment on exact details of the exchange.

Do I need a special wallet for Galleon Quest Coins?

Any wallet supporting ERC 20 tokens such as MyEtherWallet, ImTokeb, etc. will work.

How will you peg a portion of the Recoveries to Galleon Quest and what is the reason for doing so?

Upon our first successful expedition a portion of the recovered treasures such as gold or silver will be placed in a reserve in order to bring stability to our SEA Coin and liquidity for future expeditions and development of new blockchain technologies.

What is the difference between Galleon Quest IO and Galleon Quest LLC?

Galleon Quest IO is the originator of the Galleon Quest SEA Coin for listing on the crypto exchanges. That initial monies, and subsequent sales will be used to enter into contracts by Galleon Quest LLC with the treasure recovery sites. So, Galleon Quest LLC acts as the agent investing and controlling the recovery relations with the treasure sites. Galleon Quest LLC will also be responsible for conserving, protecting and when chosen, selling the recovered objects as well as museum and other displays.

But Won’t Countries Want their Treasure Back from their Ships?

First, we will only work with salvors who have admiralty orders or rights from a jurisdiction country. When they do, they have rights of recovery, it is a kind of a maritime legal finders keepers. The only real time a country can claim a ship is if it was a warship, which we will strive to avoid. The vast majority of ships from any period that were lost with valuable objects were merchant ships. Many times, the identity of a vessel can never be ascertained.

How many Ships are there to be found?

The numbers are huge on unrecovered shipwrecks. It is estimated that less than one percent of the worlds shipwrecks have ever been subject to salvage. Large percentages of ships from the early 1520s to the later 1800s were lost at sea, many of them in shallow recoverable waters.

How are Shipwreck Sites Decided Upon?

Research, due diligence, and more research. Our expert archaeologists know the industry, the players, shipwreck histories, and most of all how to research the histories of shipwrecks, from the museums in Spain, to Havana, and around the world. We simply will take the best places possible that have produced and should produce before we ever invest the first money in any project.

What will Galleon Quest do with the Treasure and Artifacts?

Any objects that we recover: gold, silver, coins, jewelry, firearms, old liquor bottles, and any other items will be conserved to clean and protect them. We have locations and persons available to do that. Then we will store some, display some, loan some to museums, perhaps road shows, and can sell some to put the proceeds back into our crypto market as a buy back. But mainly we will keep control and ownership of these items as assets.

Can I get a chance to go on a recovery operation?

Yes. With some levels of investment, we are planning to arrange visits at one of the recovery operations. While this will not mean you can necessarily dive due to the dangers and liability, the opportunities to be there will likely be offered. We will announce more on this later.