How to acquire DEXON coins: Public Sale
DEXON’s public sale will start March 27th on COBINHOOD’s Coin Offering Platform
In the previous post, we discussed the basic information about DXN. In this post, we will provide the information you need to participate in DEXON’s public sale, which is one way of the ways you can acquire DXN.
This is the second post in a series of articles discussing the basic information about DXN, ways to acquire DXN, and other relevant information regarding DEXON’s native currency. Updated as of April 1, 2019.
DEXON PUBLIC SALE ENDS SUCCESSFULLY AFTER 5 DAYS!
DEXON on COBINHOOD’s COIN OFFERING PLATFORM
DEXON’s native currency, DXN, will be available exclusively on COBINHOOD’s Coin Offering Platform for 7 days ONLY! Read the full details on COBINHOOD.
- WHEN: 27 March, 02:00am — 3 April, 1:59am UTC+0
- ACCEPTED CURRENCIES: BTC, EOS, ETH, TRX, USDT
• Rates are dynamic and will reflect real-time prices
- HARD CAP: USD$3 million worth of cryptocurrencies = 15 million DXN (includes COB Points bonus)
- MINIMUM PURCHASE REQUIREMENT: USD$50 worth of cryptocurrencies per purchase
• Users can make multiple purchases within the public sale period
- MAXIMUM PURCHASE LIMIT: 250,000 DXN per account (includes COB Points bonus)
• This is the limit for the entire duration of the public sale (7 days)
- SPECIAL BONUS: use COB Points
- OTHER REQUIREMENTS: Should have a COBINHOOD Exchange account with KYC level 2 or higher
- CITIZEN AND RESIDENT LEGAL RESTRICTIONS: Canada, Cuba, Democratic People’s Republic of Korea, Iran, Japan, Malaysia, Myanmar, Syria, Sudan, USA
- After participating in the public sale, buyers need to “claim” their DXN starting in April on COBINHOOD’s coin offering platform (final date will be announced). Once claimed the DXN amount will reflect in your COBX account.
- Depositing, withdrawing, and trading functions will be enabled on a later date. A separate announcement will be made on this.
- This public sale is not for fundraising purpose. We already raised sufficient funds from Private Placement. This public sale is for those that will be using the DEXON blockchain and DApps. DXN coin will be used as “gas” just like ETH on Ethereum network. We want people who will be using DEXON DApp in the near future to have the chance to acquire DXN coins.
Genesis Supply Allocation
1 billion DXN or 25% of the total coin supply
- Sale: 15% of the 1 billion DXN genesis supply
• Private Sale (lock-up condition: unlocks monthly 3 months after the mainnet launch. The price of each DXN token in the private sale is USD$0.1): 13.5% of the 1 billion DXN genesis supply
• Public Sale (no lock-up condition. The price of each DXN token in the public sale, without COB Points bonus is USD$0.2): 1.5% of the 1 billion DXN genesis supply
- DEXON Foundation (4-year vesting): 65% of the 1 billion DXN genesis supply (including DXN for: Technical Development, Operations, Community, DApp, Airdrop, Marketing)
- Founding team (4-year vesting): 20% of the 1 billion DXN genesis supply
COB Points bonus tiers
COB Points is one of the benefits of holding COB tokens on COBINHOOD Exchange. It is a reward system that takes into account the amount of COB you have and the amount of time you’ve held your COB for on COBX so you can be eligible to claim privileges — and this time, you can unlock bonus tiers in the DEXON public sale using your COB Points.
Please refer to the table below to check how it works.
DXN Airdrop Missions on COBX
As with any new coins or tokens that are to be listed on COBINHOOD Exchange, we will launch mission-based airdrops on COBINHOOD’s Airdrop Center for DXN.
There will be several missions that users need to accomplish in order to receive the bonus DXN rewards. COB and COB Points are relevant for the missions, similar to other airdrop missions done in the past. The details of each airdrop mission for DXN will be revealed a few hours before the mission unlocks.
Get ready for DXN Airdrop Missions starting this April on COBINHOOD Exchange.
Note: Citizen and resident restrictions during the public sale DO NOT apply to airdrop eligibility.
11 most asked questions about the DXN Public Sale:
1. Is DEXON an ICO?
No, it’s not an ICO, it’s a Public Sale.
2. What’s the difference between ICO and Public Sale? What is the purpose of the Public Sale?
This public sale is not for fundraising purpose. We already raised sufficient funds from Private Placement. This is also why we didn’t set a soft cap, only a hard cap. Because the soft cap is already reached in Private Placements.
The purpose of this public sale is for those who will be using the DEXON ecosystem to have the chance to acquire DXN coins now. DXN coin will be used as “gas” fee, just like ETH on the Ethereum network.
As the gas fee is extremely low on DEXON, releasing 3M USD equivalent of DXN coin is enough to cover the need for the near future.
3. What will happen if the hard cap is not reached?
We will close the public sale when hard cap is reached or the time period ends. Those who are involved in the public sale will still get their DXN coins whether the hard cap is reached or not.
4. What will you do with the funds?
We’ll use our funds to develop our blockchain technology and build a healthy ecosystem.
5. Why is the public sales period so short?
7 days is an industry standard, a general practice.
6. How much is available during the public sale?
For the DEXON Public Sale, the hard cap is US$3,000,000 equivalent DXN coin.
7. Why is the hard cap set at US$3M?
Due to current market situation, there really isn’t a point to set the bar that high. And The current DEXON DApp system doesn’t need that much in the circulation. We believe US$ 3M will suffice. On top of that, we have a DApp Mining Program in plan, so more and more DXN will be in circulation.
DAppp Mining program link: https://dexon.org/incentive-program
8. What kind of cryptocurrency is DXN? (Utility, Security, or Asset Token）
The DXN coin in the native currency derived from the DEXON blockchain. It serves as a utility coin.
9. Will DXN be viewed as security token?
No, DXN is not a security token. It is a utility coin.
10: Why is COB not an accepted currency on the DEXON public sale?
COB token has never been used as the accepted currency on the COBX Coin Offering platform. But we’ve heard your suggestions, and we will take this into consideration. And meanwhile, we will be having separate campaigns for COB holders later this year, so COB is excluded for the public sale this time.
11. Why restrict Canada, Cuba, Democratic People’s Republic of Korea, Iran, Japan, Malaysia, Myanmar, Syria, Sudan, and USA from the public sale?
- USA: One of the major legal concerns each and every crypto project may encounter in the United States is whether the token/coin will fall under U.S. securities laws. Two of the most important securities laws, Securities Act of 1933 and Securities Exchange Act of 1934, are regulation at federal level, so it makes no differences to where a U.S. token acquirer actually resides. Given the Securities Exchange Commission (SEC)’s broad interpretation of securities, especially after the case of Paragon, Airfox, Basis and very recently Gladius, we believe it is not the best timing of conducting a public sale in the U.S.
As always, we have been making every effort to comply with the laws in applicable jurisdictions and will keep a close eye on the latest change in regulation. If our legal counsel determines there are no more legal concerns to launch our project in the U.S., we will change our current plan and let you know at the earliest.
- Canada, Malaysia, and Myanmar: Due to securities law concerns.
- OFEC Sanctioned States (North Korea, Sudan, Iran, Cuba): Due to international and transboundary anti-money-laundering (AML) and countering-terrorism-financing (CTF) regulations.
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