Regarding Bounty & Payouts
EQUI Capital made a decision to stop the ICO in order to prepare for our Global launch with our new Co-Founder. Our new founding partners have been working extremely hard on making huge fundamental changes to the project including the tokenomics. We started off as a UK focused business and are now transforming into an International business. The new business will be rebranded EQUI Global.
Our short ICO raised a total of 843.33 ETH. In addition, a consortium of private investors who are known and work directly with members of the EQUI management team pledged $6 million USD. This was the $7 million that was earlier reported.
At the time of stopping our ICO, we at EQUI did something that very few ICOs or projects do when they change the project fundamentals. We offered full refunds to those that wanted to rethink their investment into the project. While fewer than 40 investors took us up on this offer, the consortium, brought in privately has pulled back their $6 million investment as they are waiting to reassess the project and changes that are actively being made. This is to ensure compliance with regulatory guidelines of the fundamentals of EQUI token and its potential classification by the regulatory boards governing the EQUI project as a security.
A total of 57.8 ETH was returned to investors who requested a refund. This means that a total of 785.53 ETH was raised via the ICO. As such, 2% of this amount was originally promised to the bounty pool. This constitutes a bounty pool of 15.7106 ETH. We at EQUI are 100% transparent and will offer complete records and TXID’s to verify this. As it was EQUI’s decision to stop our ICO to show appreciation for Bounty hunters hard work and dedication to the project we will be increasing the reward for the bounty payout from 2% to 5%. Therefore the total Bounty payout will go from 15.7106 ETH to 39.2765 ETH
One of the main issues with the EQUI token project and why EQUI Capital has been forced to pay hunters via ETH and not their own token is the regulations and recent changes to the securities laws. A recent ruling states that even bounty hunters who are issued tokens must pass KYC and AML verifications. Also, as EQUI is changing its utility token for a block security token, the decision was made that payouts would be made in ETH rather than EQUI tokens. This meant that even bounty hunters from the USA and China could receive their rewards.
EQUI has also hired a new Bounty Manager to ensure the bounty is wrapped up. Her name is Michelle Lim and she is available in the bounty group or via telegram @MicheLim. She will be posting the final spreadsheets and raise proofs shortly. We will then begin paying out the bounty hunters in accordance with the stake spreadsheet via our official bounty channel. As mentioned earlier, we will be increasing the bounty pool from 2% pay out 15.7106 ETH that was promised to 5% pay out of 39.2765 ETH, which is higher than contractually obligated by us and clearly stated in our contract with the agency who ran the Bounty program. Those same agencies even went as far as to add fake accounts and bounty entries in order to make it seem like they were producing far more results that they actually did. Despite all this we will honor our commitment to the genuine people who took part in the bounty program and even give them this extensive bonus as a token of our appreciation.
A few Bounty hunters have gone out of their way to slander our founders and project in the media. This was done without reaching out to our press or PR teams. For those publications looking to get the correct and accurate story, we invite these misinformed journalists and publications to please contact firstname.lastname@example.org, to be added to our official press pool and get the whole story and actual facts. We at EQUI believe in 100% transparency and free and fair press. However, we also believe the press has an obligation to get all the facts from the correct sources to ensure the facts are fairly reported and obey press laws.