Common Questions Around the Rebrand
Q: Why are you changing the name from Bitquence to Ethos?
A: The name Ethos better represents our vision and ideals and will serve us better as a brand working to bring mass adoption to the cryptocurrency space.
Q: What will happen to the BQX symbol after the rebrand?
A: We are in communication with exchanges and are transitioning the symbol from BQX to ETHOS. Some exchanges may continue to let users trade under the BQX symbol which will represent the same token, but should eventually move towards the ETHOS symbol.
Q: Will there be another token sale?
A: There will be no new token sale. All your BQX tokens will transfer over to ETHOS. The contract address will remain the same. It may take some time for exchanges and partners to update.
Q: Do I need to update my wallet?
A: No, we will make any necessary changes to the Bitquence ERC20 Smart Contract. The contract address has not changed and there have been no changes to token supply, balances, decimals or any other core specifications. The only two changes that will be made to the contract are:
- Changing the name of the token from Bitquence to Ethos
- Changing the symbol of the token from BQX to ETHOS
The contract should reflect both of these changes sometime over the next few weeks. These are just variables in the contract.
Q: Is my BQX/ETHOS secure?
A: Yes it is safe and secure. All balances held prior to the rebrand are mirrored post rebrand. Any token balances in exchanges should also carry over since there have been no changes to the contract functionality. If you have any issues accessing BQX or ETHOS on an exchange — contact that exchange. We don’t anticipate there will be any issues.
Q: What will the Bitquence Universal Wallet be called now?
A: The Ethos Universal Wallet
Q: Will the rebrand have any impact on development?
A: Nope! Development will continue as scheduled with all products being branded with the new Ethos brand. The first public product release for Ethos will be the Ethos Universal Wallet with Ethos Fiat Gateway, then Ethos Social, Ethos Bedrock API and Ethos Professional Services following shortly after!
Some More Miscellaneous Questions
Q. How do I view tokens in my wallet?
A. Look for “add token” in your wallet
You can enter the contract address: 0x5af2be193a6abca9c8817001f45744777db30756
The Token Ticker: ETHOS
And the decimal number: 8
And you should be able to see your tokens.
Q. When will the Wallet be Available?
We hope to have the wallet available for open beta by Q1 2018.
Q. Will I Control my Private Keys?
Yes. The wallet is entirely self-custodied and user directed.
Q. Can I buy BTC/ETH/ETHOS using Fiat?
A. Not immediately, but we are working to build a compliant fiat solution that we want to roll out to a beta audience by Q2 2018.
Q. What gives the ETHOS token value?
A. Supply and Demand. Highly recommend reading this post where we address the economics of functional tokens: https://www.bitquence.com/a-metaphor-for-functional-tokens/
Q. Where Can I Buy ETHOS?
A. You can buy on Binance. Go to Binance.com, create an account and deposit BTC or ETH to buy ETHOS. We do not officially endorse or support any exchange or 3rd party trading system.
Q. Are ETHOS Tokens a Security?
ETHOS is not a security, or Tokenized Security, because it does not meet the legal definition of a security applicable in the United States, Canada, Singapore, United Kingdom or any other OECD jurisdiction. In the United States, this is more commonly referred to the “Howey Test”.
Q. What do ETHOS Tokens Represent?
ETHOS is a functional token that has a utility and access purpose on the Ethos platform. Some information from our Whitepaper that may be helpful -
ETHOS Tokens will :
- Be the payment mechanism for accessing and using services on the Ethos platform
- Pay for transaction fees and API calls
- Enable liquidity to help with changes in user asset allocations
- Fuel a dynamic rewards and reputation system
- Enable users to transact with each other
However, ETHOS Tokens will NOT :
- Pay dividends or profits of any kind
- Enable holders to vote on company matters, or
- Control the company or imply ownership in any way
Q. Help! My Question Still Wasn’t Answered!
If your question is not addressed, please email firstname.lastname@example.org to open a ticket. We also highly recommend joining our telegram channel at https://t.me/Ethosio where you will get access to thousands of Ethos community members across the globe who can likely answer your question far faster than we can. It may take several days for us to get to every ticket as we receive many queries every day. We are sorry for any inconvenience.