DeFIRE Community Sale FAQ

What is gDFIRE?

gDFIRE is time-locked DFIRE. Refer to https://medium.com/@defire.org/dfire-one-token-endless-utility-3710e721e95e for more details.

What is xDFIRE?

xDFIRE is a utility token which, at the launch of BLAZE, can be redeemed for gDFIRE. You will receive gDFIRE such that after they unlock, you will have an amount of DFIRE equal to the number of xDFIRE redeemed. In simple terms, you can think of your xDFIRE balance as a receipt which shows how many DFIRE you’ve purchased in DeFIRE’s pre-seed and seed rounds of fundraising.

Some of buttons on the sale website are unresponsive?

For some browser and OS combinations, you might have to click the buttons twice and wait a few seconds before the transactions appears in your wallet to be confirmed. If it doesn’t work on the first button press, just try clicking again and it should.

What is the lock period of the gDFIRE I receive?

Depending on when you participated, the lock period ranges from four to eight weeks, as described here: https://medium.com/@defire.org/dfire-community-sale-c262d9ec0899. Note that even though gDFIRE tokens are locked, they have various utilities, including claiming a share of the revenue generated by BLAZE: https://medium.com/@defire.org/dfire-one-token-endless-utility-3710e721e95e So although your investment is temporarily illiquid, it is not idle!

What happened to psDFIRE?

psDFIRE is the receipt token we used for the Price Discovery Round sale. To allow the fairest price discovery, that sale didn’t set a specific price per DFIRE and instead allowed depositors to determine DFIRE’s initial price. 10,000 tokens were allocated to the Price Discovery Round, and every depositor received a share of the 10,000 tokens proportional to their share of the total deposits. Because the price per token could only be determined in hindsight, psDFIRE represented the amount deposited, not the number of tokens received. Going forward, we’ll mint an appropriate amount of xDFIRE to all psDFIRE holders and deprecate psDFIRE.

When can I redeem my xDFIRE?

As soon as BLAZE launches! Tentatively we expect this to be in early September, but we’ll keep the community updated as we hone in on an actual release date.

How does the pricing work for the Community Sale Round?

As described here: https://medium.com/@defire.org/dfire-community-sale-c262d9ec0899, the initial price per xDFIRE is $9.36 ― this corresponds to the 1.2 times the price established by the community in the Price Discovery Round. After each deposit in the Community Sale Round, the price increases linearly with the number of tokens bought. The last token out of the 10,000 will be sold for $15.60.

Is participating safe?

All community sales involve some degree of risk. Please read the Terms and Conditions (“T&C”) of the Community Sale Round carefully; they are available at https://sale.defire.org/terms.

In regards to the safety of funds from theft, DeFIRE DAO is taking every possible measure to safeguard the funds collected. You can read about the safety measures we took for the Price Discovery Round here: https://medium.com/@defire.org/defires-safety-measures-937bb1873a91 and rest assured that we’re taking a similarly stringent approach to the Community Sale Round. In addition to all collected funds being stored under a 4/5 multi-sig (three DeFIRE Team Leaders, one public figure, and one community-elected member), every use of funds from the multi-sig is accounted for in our #transparency channel on Discord.

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