Dear Rockers
Thank you for the overwhelming support and response in our Early Access whitelisting process!
We are just two days away from an important milestone for GBX; the beginning of our public token sale. 24-hour Early Access Sale starts on 7 February (12:00:00 UTC). It has been a tremendous journey so far, and I am happy to provide an update and details on both the private sale and the public sale as well as individual caps, and further sale and distribution details.
PRIVATE SALE RECAP
The private sale was held during December 2017 and early January 2018. A total of US$21 million of Rock Token (RKT) were sold. The private sale was for strategic early adopters who believe in the long-term vision of our project. You can see some of our strategic early adopters on our website. Strategic early adopters were offered bonuses dependant on the scale of their support and their strategic importance. The bonuses were on a scale between 10 and 25%.
50% of the private sale allocation is locked up and will be released in equal instalments over a 6-month period after the end of the public sale. The strategic early adopters are fully aligned with our long-term objectives and were selected based on the value that they add to our long-term project. They are experienced leaders from the traditional capital markets and finance sector as well as the blockchain community.
PUBLIC SALE UPDATE
The total number of Rock Token (RKT) on sale during the public sale will be 60,000,000 (sixty million), which means a targeted raise of US$6 million. As you will be aware from our various public chat groups and social media forums, Quoine is one of our strategic partners and in connection with such we are hosting part of our public sale on Quoine’s Qryptos platform. 35,000,000 RKT (US$3.5 million) will be sold by GBX directly, while 25,000,000 RKT (US$2.5 million) will be hosted on Quoine’s Qryptos platform.
1) GBX’s Early Access Sale will begin on 7 February (12:00:00 UTC); RKT will be sold on a on a first-come-first-served basis up to a maximum of the individual cap (as defined below) to Early Access whitelisted Rockers. Early Access whitelisted Rockers can send ETH within the individual cap from their whitelisted ETH address to the Contribution Address that will be displayed in our user login dashboard from the 6 February onwards. Please do not send any ETH before 7 February (12:00:00 UTC), as the transaction will be rejected by the smart contract and you will waste gas for a failed transaction.
Any RKT that is still available after the early access sale will be available during the public sale as from 8 February (12:00:00 UTC). The public sale is available to all Whitelisted Rockers. The public sale begins on 8 February and ends on 14 February while RKT supply lasts. The public sale does not have individual caps and is based on a first-come-first-served basis.
2) RKT sale hosted on Quoine’s Qryptos platform will begin on 8 February (12:00:00 UTC), with no individual caps and is based on a first-come-first-served basis. All you need to do to participate in this sale is to open a Qryptos account and fund it before the 8 February to participate in this sale. Please get more details from Quione directly regarding this.
EARLY ACCESS SALE AND CAPS
On 7 February (12:00:00 UTC), there will be a 24-hour Early Access Sale for US$3.5 million of RKT for Early Access whitelisted Rockers only. In the promotion of fairness to all interested contributors, there is a cap on the amount each contributor can contribute in the first 24 hours from the start of the Early Access sale. Availability is based on a first-come-first-served basis.
During the Early Access whitelisting process, that ended on 4 February (11:59:59 UTC), we have a total of 7,592 whitelisted accounts.
We have agonised over the optimal individual cap for the Early Access Sale, and have come to a decision that we believe strikes a good balance between having a cap that is meaningfully large enough, and yet sized in a way that allows more contributors to participate. As such, we have decided to set the maximum individual cap based on 75% full participation of our whitelisted Rockers. Thus the individual cap for the first 24 hours from 7 February (12:00:00 UTC) is:
US$3.5 million divided by (75% x 7,592 whitelisted participants) = US$614.68 or 6,146.80 RKT*
*ETHUSD, and thus ETHRKT price will be fixed on 6 February (12:00:00 UTC)
We believe that most of the interested whitelisted Rockers will still be able to get their desired RKT, as we have seen from other token sales some of the whitelisted contributors do not contribute up to their own individual maximum cap.
Please take note that as the cap is based on 75% full participation, RKT may face limited supply and sell out of availability before the end of the 24 hour period. Hence, we emphasize that it is based on a first-come-first-served basis, within the individual cap of US$614.68 per person.
ETHUSD AND ETHRKT FIXED RATE
While the price of RKT is fixed at US$0.10 per RKT, the payment for RKT is in ETH. Hence, we will be fixing the price of ETHUSD and ETHRKT on 6 February (12:00:00 UTC), which is 24 hours before the start of the early access sale.
The cap as announced now is US$614.68 per person, and we will then announce this amount in terms of ETH on 6 February (12:00:00 UTC), based on the published ETHUSD price on https://coinmarketcap.com at that time.
ACCOUNT OPENING GIFT
All Early Access whitelisted Rockers (those whitelisted by 4 February (12:00:00 UTC)), will get a bonus of 50 free RKT as an account opening gift. Besides getting 50 free RKT, Early Access whitelisted Rockers will get a full whitelisted GBX account, that can be used in our GBX Token Sale Platform and Digital Assets Exchange that will be launched during March/April 2018. Hence, even if you do not participate in the RKT sale, you will still get 50 free RKT.
If you have missed the Early Access whitelisting period, you still qualify for the second phase of the account opening gift. All successful whitelisted Rockers who have completed their whitelisting registrations from the 5 February (00:00:00 UTC), will get 20 free RKT as an account opening gift. Again, besides getting 20 free RKT, whitelisted Rockers will get a full whitelisted GBX account, that can be used in our GBX Token Sale Platform and Digital Assets Exchange.
All account opening gifts of free RKT will be made available for withdrawal after the token distribution date (see below).
TOKEN DISTRIBUTION
Upon contributions of ETH, RKT will be distributed immediately by the smart contract but they will be subject to an initial transfer lock up.
RKT is currently set to be unlocked for transferring no later than (12:00:00 UTC) on 26 February 2018.
RKT SALE CONTRIBUTION ADDRESS
The RKT sale contribution address will be released in your user dashboard on the 6 February (12:00:00 UTC).
Make a note of this address as this is THE ONLY ADDRESS you will send ETH to during the token sale. Any other claimed address is fake. We recommend verifying this address against the following:
GBX YouTube Account: https://www.youtube.com/channel/UC8AFevz1jYcHMXN-GLnae2g/featured
GBX Telegram Announcement Channel: https://t.me/GBXannouncements
SUMMARY OF KEY DATES:
BEWARE OF SCAMS
IGNORE ANY AND ALL SITES THAT ARE NOT HTTPS://GBX.GI
THE GBX TOKEN SALE IS CLOSED TO ANYONE WHO HAS NOT ALREADY SUCCESSFULLY COMPLETED WHITELISTING.
BE WARY OF FAKE ADMINS WHO REACH OUT TO YOU.WE WILL NEVER EMAIL, PRIVATE MESSAGE OR CONTACT YOU IN ANY WAY AND ASK YOU TO SEND ETH.
Thank you once again for the overwhelming support for which we are humbled. We will continue to work hard to achieve the GBX vision.
Nick Cowan
CEO
GSX Group
You can find us online using the links below:
Website: https://gbx.gi
Medium blog: https://medium.com/@Gibraltar.Blockchain.Exchange
LinkedIn: https://www.linkedin.com/company/18286558/
Facebook: https://www.facebook.com/GibBlockEx/
Twitter: https://twitter.com/GibBlockEx
Telegram: https://t.me/GBXCommunity
Reddit: https://www.reddit.com/r/GBXCommunity/
BitcoinTalk: https://bitcointalk.org/index.php?topic=2684176.msg27421066#msg27421066
YouTube: https://www.youtube.com/channel/UC8AFevz1jYcHMXN-GLnae2g
