FAQ — Futourist KYC, Whitelisting and Token sale Frequently asked questions

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Futourist

5 min readFeb 17, 2018

If you’ve been following us for the past few weeks you know that we’ll be holding a token sale in a few days. To make the experience as pleasant and easy as possible for everyone that wants to participate, we’ve prepared a guide to answer some of the most common questions you might have. If you have any other questions we haven’t answered below, please join our Telegram group. In case you haven’t submitted the KYC form yet, you can do that on kyc.futourist.io.

When will the Futourist Token sale start and end?

There will be three stages to our token sale: limited pre-sale, unlimited pre-sale and the crowdsale. First phase will begin on February 20th at 17:00 CEST (16:00 GMT) and the last phase will end on March 20th at 17:00 CEST (16:00 GMT). These dates are now final. In case the hardcap is reached sooner than the end of the last phase, the crowdsale will end early. You can read more about the rules of our token sale in this blog post. The blog post includes overall description of the token distribution, funds distribution, revenue model, KYC and other topics.

Know Your Customer (KYC) and Whitelisting

Due to demands made by regulators, banks and exchanges, the “Know your customer” procedure (KYC) will be obligatory for every investor — for those investing in the pre-sale phases, as well as those investing in the public crowdsale phase. The KYC form is available now: kyc.futourist.io. Read more about the KYC procedure in this blog post.

If you want to check the status of your KYC application, understand where to get the pre-sale ETH address or get other information about the KYC, then read this post.

Do not trust any ETH addresses you might see on Telegram, Facebook, Twitter, Bitcointalk, Instagram, Reddit or other channels. The only place where the real Futourist ETH address will be visible is kyc.futourist.io, once you are successfully verified.

What are the crowdsale threshold and hard cap? What will the price of the token be?

There will be a threshold of €700,000 and a hard cap of €5.6 million.
The price of the FTR token is fixed at 0.016€. ETH price will be set and disclosed right before the pre-sale starts.

Which currency can I contribute?

You can send your contribution in Ether (ETH) only. If you hold any other currencies, you can convert them into Ether on an exchange.

Do not send funds directly from exchanges!!!
Use a private ERC20 enabled wallet like MyEtherWallet, Jaxx, Parity, Mist, or MetaMask to send the funds to the contribution address found on our website. If you send Ether directly from an exchange, your FTR tokens will most likely get lost.

Why can’t I contribute directly from an exchange wallet?
Exchange wallets are unable to receive crowdsale tokens. If you contribute from an exchange, tokens sent to you might get lost! That is why it is important to use a ERC20 compatible wallet.

Hardware wallets like the Ledger Nano S or Trezor are OK. In order to see the FTR tokens on your hardware wallet, you will have to connect your hardware wallet (Ledger, Trezor…) to a service like MyEtherWallet. There, you will be able to see and transfer FTR tokens. It’s recommended you connect your hardware wallet to MyEtherWallet straight away.

One of the most common wallets is MyEtherWallet (MEW) so if you don’t have a hardware wallet or other ERC20 wallet yet, you can go to their website and follow the rules on how to create their wallet from scratch.

How and when will I receive my FTR tokens?

Your FTR tokens will be sent to the ETH address instantly upon receiving your ETH contribution in our token sale. Your tokens will be visible on your wallet, but will not be transferable until 20th of March 2018 (see the FAQ question below). Again, don’t send funds from exchanges.

How many FTR tokens will be available for sale?

350 million (35%) of the total token supply (1 billion FTR) tokens will be available in the token sale.

How will the funds and tokens be distributed?

This is the breakdown of our planned token distribution:

- 40% for the community,

- 35% for the crowdsale,

- 17% for the team (27 month vesting period),

- 8% for future projects.

And this is the breakdown of raised funds distribution:

55% for product development and UX,
20% for marketing and PR expenses,
15% for administrative and legal expenses,
10% other, unforeseen expenses.

When can I trade FTR tokens?

Tokens will NOT be transferable out of your wallet straight away. The tokens will become transferable on 20th of March, 2018 (official end date for the token sale). This locked period is there for the exchanges to have time to implement the support for our token.

Futourist team is working very hard to be listed on some exchanges. We will publish the news immediately after it is official. If you subscribe to our newsletter or join our other channels, we’ll let you know when FTR tokens will start trading on exchanges!