Unsold CAS Token Distribution(PoS) — FAQ
Amendment on 5th June, 6.30am BST: Considering the safety and security measures of all our token holders, we are giving additional 72 hrs (after 5th June 12:00 BST) to prove your stake, until 8th June 12:00 BST.
FAQ
- I bought CAS tokens during the token sale, am I eligible for the bonus tokens on the 8th of June?
Ans: Yes, you will be allocated your maximum proof of stake based on the number of tokens you hold in your registered Ethereum address on the 8th of June.
2. How will it complement the loyal token sale participant of the Cashaa community?
Ans: The Public Token sale participant on an average received 52.5% bonus. For every token purchased you received 1.52 CAS, and on the 5th of June you were expecting to receive 1.03. But now you will get rewarded also on your bonus, so 1.52 *0.7= 1.06.
Hurray additional 0.03 CAS for our early members!!!
Note: It may be possible, that your reward can differ based on the actual bonus received during the token sale, based on the time of participation and on the number of tokens you currently hold.
3. What if I sold some of my CAS tokens?
Ans: Keeping in accordance with the answer to question 1, you will only receive your maximum allocation for PoS based on the precise amount that you have in your Cashaa registered Ethereum address on the 8th of June 2018.
This means that you won’t be allocated any bonus based on the tokens that are not in your Cashaa registered Ethereum address. If you’ve sold your tokens, you’re welcome to buy them back and send them to your registered Ethereum address before the 8th of June.
4. What is the cutoff time for the Bonus CAS token distribution?
Ans: The cutoff time is the 8th of June, 12:00 BST (12 noon BST). At this time, we will scan the addresses for the CAS balances and the maximum bonus allocation through the PoS program will be decided.
5. I did not participate in the token sale, but I bought CAS tokens from an exchange. Am I eligible for the bonus CAS tokens?
Ans: Yes, you are eligible for the bonus CAS tokens, but you need to visit our website (www.cashaa.com), create your profile and provide the ETH address where your CAS tokens are stored. Your stake will be calculated based on the CAS balance in your registered wallet address on the 8th of June at 12:00 PM BST. To receive the reward CAS you must hold your CAS in an ERC 20 wallet and not on an exchange or HitBTC.
6. Can I buy CAS tokens now and become eligible for the bonus?
Ans: Yes, you can buy CAS tokens from any of the exchanges where we are listed (see the exchange list here) and register your profile on cashaa.com. The cutoff time for Proof of Stake is the 8th of June, 12:00 noon BST.
7. I have distributed my CAS tokens into other addresses, how will my bonus tokens be calculated?
Ans: In order to calculate the bonus tokens, you have to show the Proof of Stake. We will see the number of tokens linked into your Cashaa account (i.e. your registered address). You can update your registered ETH address by entering into you Cashaa account, starting from the 1st of June 2018.
Note: The bonus CAS will be sent only to the registered address and can’t be modified later.
8. How can I calculate the number of bonus tokens I am eligible for?
Ans: On the 8th of June, 12:00 PM BST, we will scan the number of CAS tokens in your registered wallet addresses and you will be eligible for receiving the bonus tokens equivalent to 70% of the token amount. Your PoS reward will be distributed monthly in equal proportions for the next 7 months. Ex: If You have 1000 CAS on the 8th of June, your potential reward is 700 CAS, distributed in 100 CAS each month for the next 7 months (given the stake of 1000 CAS doesn’t decrease), the last distribution will occur on the 5th of December 2018. The token balance after the first distribution will be 1,100 CAS.
9. Can I buy more CAS tokens before the 5th of June and will it be considered for the Bonus allotment?
Ans: Yes.
10. Can I sell my stake after the 8th of June 2018?
Ans: Yes you can. Your PoS reward will be calculated on the 8th of each month and will be adjusted based on the CAS available on your registered wallet address. Ex: If in the next month, you will sell 200 CAS tokens out of the 1,100 CAS (assuming the initial 1000 CAS from the first month), this will decrease your stake. Your reward for the second month will be calculated based on the 900 CAS and your reward will be 90 CAS for the consecutive months (given the stake of 900 CAS doesn’t decrease). The token balance after the second distribution will be 900 (stake) + 90 (second month reward) = 990 CAS.
11. What do you mean by “The number of participants and the Max stake reward will be locked, and can’t be changed”?
Ans: It means that no new participants will be allowed after the registration has closed. If on the 8th of June, 12:00 PM BST your CAS PoS value is 1,000, then your stake reward is locked at 700 CAS, given in the ratio your stake fluctuates over the next 7 months. But it can’t exceed the reward of 700 CAS.
12. What will happen with the Tokens which are left from the 192 Million after 7 months?
Ans: There should not be any tokens left, if the users will not sell their stake. In case they sell their stake, the reward will not be given and the tokens will be left available. All such tokens will be distributed to the ERC 20 address through one-time distribution on the 8th of January 2019, in the proportions owned by the individuals. Registration for this program will start on the 15th of December and last until the 31st of December.
13. Is KYC documents upload a must?
Ans: No, for the bonus, KYC documents are not compulsory, it is optional.
14. I have lost the private key of the wallet where my CAS tokens are stored. What will happen now?
Ans: If you have already reported this issue, we will scan your old address and then send the bonus tokens into your new address. However, no address change request will be entertained now.
15. I have moved my CAS tokens to some other address. Can you pick up the balance from that address and allot the bonus CAS tokens to me?
Ans: We will see the number of tokens linked into your Cashaa account (i.e. your registered address). You can update your registered ETH address by entering into your Cashaa account, starting from the 1st of June 2018. The Bonus will be allocated in the same ERC 20 address which was used for the stake.
16. Why was this decision taken now? You have promised the Unsold tokens to be distributed among the buyers?
Ans: We are now approaching the date of distribution, on the 5th of June, and as promised we are not selling or keeping the unsold tokens which became available after KYC rejection, but we are giving them to the community (as stated in past communications) in the ratio users, to reward the community members who joined us. We have already locked the Free token on a multisig ERC 20 address, which can be seen here.
The decision was taken to reward the community members who hold CAS tokens and share our belief that following compliance and regulations is of utmost importance.
17. I have an issue with my Cashaa account?
Ans: Please raise a Helpdesk ticket with the appropriate subject from your Cashaa account.
18. I have made a withdraw request from Hitbtc and it’s still not credited, what should I do?
Ans: We have given additional 72 hrs, and this is final. No request will be entertained on 8th June. So, please withdraw your token asap and give enough time to be within the cut-off time, we recommend at least 36–48 hrs.
19. I entered an ETH address and want to change again but do not have the option available?
Ans: ETH address update is a one time process and the same ETH address will be used for the next 7 months to check your ownership for stake, so please be extra careful as no update is allowed once you locked it. No ticket request will be entertained for that.
20. I moved my CAS from my software wallet to Trezor/ hardware wallet but it is not reflected and still in network what I can do?
Ans: Please use the address which you want to submit for the ownership. Please give appropriate time to get CAS transferred to the new address. As we don’t control the Ethereum network we would not be able to help and if your tokens are not in the given address before 8th June, 12:00 BST you will be disqualified. So please give adequate time to transfer.
21. I bought tokens through Cashaa exchange, should I move it to my ETH address?
Ans: Yes, please move it to your ERC 20 address and link your address by creating an account on https://cashaa.com/.
22. Do I need to be KYC approved for claiming POS?
Ans: People who have bought tokens from exchange do not require KYC to claim POS bonus in their cashaa account.
No helpdesk ticket regarding an ETH address change raised on 8th will be entertained. So be very careful when you enter your ETH address and make sure you notify us at the latest by 7th June, 5:00 PM BST in case of any issue.
Amendment on 4 June, 5.30pm BST as per legal and tax advise: The equal distribution will be done by the company to all the owners of CAS holders proportionately. So anyone who will register and prove the ownership on or before 8th June 12:00 GST will be rewarded 0.7 CAS for each CAS they own. This will not impact the number of tokens received by the holders, all the extra tokens required due to this amendment, if any, will be allocated from company tokens (not part of the 192 Million CAS).
Regards
Team Cashaa
The Next Generation Banking Platform for The Next Billion
