Kryptoin Pre-ICO Announcement
Kryptoin Pre-ICO Announcement
We’re thrilled to announce that the Pre-ICO is only 5 days away and with that there are some things that you will need to check and perform in order to participate in the sale.
The Pre-ICO is an exciting time for the team and all its supporters but there are some important facts you must understand to fully take advantage of the opportunities presented in this Dutch Auction.
A Dutch auction is a public offering auction in which bids for a token offering begin at high prices and decrease until the price at which the total offering can be sold is determined. … The company uses a Dutch auction in which investors enter bids for the number of tokens they want and the price they’re willing to pay.
The Dutch Auction will begin on Sept 1, 2018 at 2 PM Eastern Time or 6:00 PM UTC.
To participate in the Dutch Auction you must do the following.
1. Sign into your account at Kryptoin.io or register if you have not done so.
2. Go to the Auction tab and install Metamask on your browser from https://metamask.io/
3. If Metamask has been successfully installed you will see the Auction interface. But, the Bid button will not be enabled until you perform KYC
4. Upload your ID and Selfie on the KYC tab.
5. Now you are eligible for bidding.
Absentee Bidding
Absentee bidding will be enabled to allow you to place bids before the Sept 1 date.
A. This gives you the ability to place bids in case you will not be available on the live auction date and the auction system will execute your bids for you.
B. The Auction start price is will be at 20% above the NAV price in ETH and decrease in price until all the tokens are sold or the price reaches its reserve price of 60% of NAV.
C. All winning bidders pay the same price. Meaning if you bid 2 ETH for each coins but the auction ended at 1 ETH. You will only pay 1 ETH so there is no worry of overpaying. Everyone pays the same Clearing Price
D. Refunds can be claimed if you have paid too much for your bid after the auction.
