The Start Date of the Cardstack Crowd Fundraiser

The Crowd Fundraiser (Batch C) will now open May 31, 2018 at 13:00 CEST.

This is an official Cardstack announcement, redirecting from https://cardstack.com/crowd-fundraiser-update-2

Update: The TGE has concluded.

Thank you to all who submitted KYC applications for the Cardstack Token Generation Event (TGE) during our whitelist registration period which ended on Sunday, May 20.

We’ve received a remarkable quantity of applications, greatly exceeding our initial projections. Our automated process successfully screened out clearly fraudulent applications, which comprised only a small percentage of the applications received. We now have a backlog of thousands of legitimate applications that we need to manually review as required by Swiss regulations. Since you all spent a lot of time and care to prepare the required documents, we feel it is our responsibility to the community to review each and every one of the submitted applications.

Even with a team of 10 that has worked tirelessly to review documents since the start of the KYC period, it would take us more than the next 48 hours to be able to go through each application and arrive at an (approved or denied) decision based on the KYC criteria.

After discussion with our team and our advisors, we are updating the start date of the Crowd Fundraiser (Batch C) to Thursday, May 31, 2018 at 13:00 CEST to accommodate the large amount of applications. Only applications that were successfully submitted before the May 20 deadline will be reviewed.

As part of the review, you may receive an email from us (support@cardstack.com) or our KYC/AML partner Bitcoin Suisse (cardstack@bitcoinsuisse.ch). Please reply and send the requested documents as quickly as possible, to ensure that they will be processed in time.

Based on acceptance rates, we should be able to project and announce the individual caps for Batch C by Monday, May 28, 2018. For early Cardstack supporters, you will also receive notification of your individual caps which will be higher as a symbol of our appreciation. We will be updating the TGE dashboard to reflect this information in the next twelve hours.

We know how eager you are for the TGE to commence. Similarly, we are thrilled and grateful to reach this final step in our fundraiser with such strong support.

Contributing to the Crowd Fundraiser

A total of 480 million Cardstack Tokens (CARD) will be distributed through our Crowd Fundraiser (Batch C). This corresponds to a cap of $8 million USD for Batch C, following our successful early contribution round (Batch A), which collected $20.5 million USD from strategic contributors, and pre-allocation (Batch B), which collected $6.5 million USD through Bitcoin Suisse’s platform.

The price of CARD for Batch C contributors is approximately $0.017 USD. Contributions will be made in ETH to Cardstack’s Ethereum smart contract. The ETH-to-CARD conversion is estimated at 1 ETH = 45,000 CARD. The exact conversion will be set in the smart contract shortly before the TGE date, and remain at that value until the end of the TGE, ensuring all Batch C participants receive the same ETH-to-CARD rate.

At the opening of the Crowd Fundraiser, approved participants (who have passed KYC/AML and whitelisted an Ethereum address) will be able to log in to their TGE dashboard on https://cardstack.com/ to view the details needed make their contribution with a ERC20-compatible Ethereum client.

All contributions must be made directly to Cardstack’s Ethereum smart contract address, which will be made available only on the TGE dashboard on cardstack.com. We will never solicit funds from you via email, private message, or social media.

Important Reminders

• We will never, under any circumstances, solicit funds from you via email, private message, or social media.
• All contributions must be sent directly to Cardstack’s Ethereum smart contract address, which will be made available only through the TGE web app on cardstack.com at the start of the Token Generation Event.
• If you are in doubt or notice any suspicious activity, please message the admins in our official Telegram group: https://t.me/cardstack.

Join our community

To learn more about Cardstack, visit https://cardstack.com.

Join the Cardstack community channel on Telegram at https://t.me/cardstack

Disclaimer

Nothing herein constitutes an offer to sell, or the solicitation of an offer to buy, any tokens, nor shall there be any offer, solicitation, or sale of Cardstack Tokens (CARD) in any jurisdiction in which such offer, solicitation, or sale would be unlawful. You should carefully read and fully understand this white paper and any updates. Every potential token contributor will be required to undergo an onboarding process that includes identity verification and certain other documentation, which you should read carefully and understand fully, because you will be legally bound. Please make sure to consult with appropriate advisors and others.