Crowd Machine Compute Token (“CMCT”) Sale Summary
Token Sale Particulars
UPDATED: 20 April 2018 (originally issued 14 January 2018)
The CMCT Sale opened on 1 April 2018. The Pre-Sale part has now closed.
At a date to be announced, the CMCT Sale will re-open with a series of 390 daily public sales.
Two (2) billion CMCT will be issued.
The supply is fixed (i.e., non-inflationary).
All CMCT (125 million) allocated for the Pre-Sale Period will be distributed pro rata based on a participant’s contribution to the total ETH paid-in by all participants (private and public).
For example, John contributes 1 ETH. The Total paid-in amount received from all private and public participants is 10 ETH. John receives 12.5 million CMCTs (125m x 1 ETH /10 ETH).
The market will therefore determine the price for CMCT, which equals the total ETH received by all participants divided by the total tokens allocated for the Pre-Sales Period. Non US Public Sale participants that contribute between 1 and 10 April 2018 (inclusive) get 0.5 free tokens per CMCT purchased (or 50% bonus). US Public Sale participants that contribute in the first 7 daily public sale periods will get 0.5 free tokens per CMCT purchased (or 50% bonus). No bonus tokens will be distributed for subsequent sale periods.
Pre-Sale KYC/AML and ISRS Period
There will be no sales from 21 April to 27 April 2018 in order to manage KYC/AML and an ISRS4400 review of the pre-sale process. Tokens will be released to Pre-Sales Period participants during at the end of the review.
Daily Public Sale Periods
There are 390 daily Public Sale Periods of 20 hours starting at 00:00 UTC each day.
Tokens allocated for each daily period are distributed pro rata and are based on a participant’s contribution to the total ETH paid-in by all participants during that period.
Bonus tokens not claimed are divided equally and added to each daily Public Sale Period.
Participants that have successfully completed their KYC and AML compliance check before the start of a daily Public Sale Period in which they contributed will receive their CMCTs within 4 hours of the close of that period. All other participants must allow up to 7 days to go through the KYC and AML process and receive CMCTs.