Crowdfunding — how to prepare

So, we’re almost ready for the Golem crowdfunding.

We have published whitepaper, terms, and crowdfunding code. The crowdfunding start date is announced for 11 November at 3 pm GMT and the smart contract will be deployed on 10 November.

To make sure you’re as ready for it as we are, here’s a little guide on how to prepare for & participate in the GNT crowdfunding.

The Basics:

• The contract code will be deployed to Ethereum on 10 November
• We will announce the address of the account on social media
• Sending ether will become possible 11 November, 3 PM (GMT) – the time is based on block number which will be known when the code is deployed
• The minimum cap is 150 000 ETH — if it won’t be reached before the end of the funding, the ether sent is refundable
• The maximum cap is 820 000 ETH — contract will be closed in the moment of reaching it, even if the ending block wasn’t mined yet
• To participate you’ll need to have ETH — other cryptocurrencies are not supported

The recommended wallets to use are the Mist, Ethereum Wallet, Parity, and MyEtherWallet. We’ve just published step-by-step guides on how to use them. We recommend you read them as soon as possible.

Some of the most important bits are:

• Don’t send Ether directly from an exchange. That’s because Golem Network Tokens generated by sending ETH to the contract will be transferred to the account from which ETH came. Assuming you want to have control over your tokens, sending ETH from an exchange wouldn’t be a good idea. We intentionally made it impossible by requiring “callData” — an additional parameter you will have to include in your transaction. It makes sending ETH to our contract slightly harder (no worries, it’s explained thoroughly in the published instructions), but will assure that no one makes this mistake.
• Store your Ethereum account data securely. We know, it’s being said every time when talking about cryptocurrencies and became boring a long time ago. But please, take it seriously. Better safe than sorry!
• Check twice if the address you are about to send to is our contract’s address. It will be published on golem.network just after the deployment of the contract, 10 November
• If you are planning on using Mist, Ethereum Wallet or Parity it’s strongly advised to fully synchronize the blockchain. Note that it will take a long time, so you will have to start the synchronization several hours before, depending on your PC and internet connection.
• If you are not completely sure what you are doing, follow our manuals directly, step by step. Also, if you are quite new to the topic, we recommend you using MyEtherWallet.

The full manuals are published on crowdfunding page.

In case of any questions we invite you to join discussion on our Slack or Reddit. Happy crowdfunding!