Solving doubts about our Token sale
Written by Edmilson Rodrigues (CEO at Swapy Network)
Dear Community,
As always, we are very happy with the interaction our team had with some of you after we published our Token Sale Summary (https://s3.us-east-2.amazonaws.com/swapynetwork/SwapyNetwork_TokenSale_Summary.pdf).
There were also many individual doubts, which we decided to solve in this blog post.
- Your team will exclude contributors from the USA and China. Is it only applicable for residents of mainland China or all of China ( Macau, Hong Kong etc)?
The token sale is restricted to residents of mainland China only. Citizens and residents of Macau and /or Hong Kong can still contribute, as long as they present the documents in the KYC from one of the allowed geographies or nationalities.
- Can US accredited participate?
No, no US person can participate, may it be accredited or not.
- Are KYC/ AML checks are required for participating in the pre/crowd sale?
Yes, the KYC/AML process is necessary both in the pre-sale and the crowd-sale. In our case it will be performed by our partner Blockhaus.We will share the link to start the KYC/AML in the week before the begining of the Pre-Sale.
- Are the pre-ico, presale tokens sold subjected to a lock up period?
Yes. The Pre-ICO ($500k round in January 2018, oversubscribed) has a 6 months Lockup after the end of the ICO. All tokens sold in the ICO are subject to a 7 days lockup/freeze after the end of the ICO. Which means they will be locked in the purchaser´s wallet until the 7 days period expire.
- Wouldn’t the token sale smart contract immediately issue Swapy tokens during the crowd sale? Wouldn’t it be ideal to do that along with a lock period of 1/2 weeks so that you have greater control over listing ?
The Smartcontract will immediatly distribute the Swapy Tokens at the moment the contributor sends the Ether. But, as said in the previous topic, it will stay frozen for 7 days after the end of the Crowdsale of the ICO. We decided to adopt that measure after we learned that there were people practicing Scams by selling Swapy Tokens before they were purchased.
- How will you handle the inflation/deflation of ETH price during/after the sale since you are pricing Swapy’s in USD. Let’s say ETH price was 800$ during the presale. What if ETH price becomes 1200$ at crowdsale?
The conversion price will be at the time of contribution. We will not offer any guarantee against inflation.
- How has been the interest to contribute to Swapy Network so far?
We have been contacted by Funds, Syndicates and Angels from all over the world. In our estimate, there are about 50 different angels, syndicates and fund partners who expressed interest in contributing. This adds up to USD$27MM (considering an ETH price of $840).
- You are almost reaching the Hardcap for the fundraising only with the funds, syndicates and angels who are whales. Why don´t you raise everything you need with them and the rest of the demand can buy the token in the secondary market, driving the price up?
Because we love our community and want to offer the big and small contributors the chance to get into our token sale. We believe that a blockchain project is only as strong as its community. That is why we are limiting the contribution per person in the last 3 tiers in the crowdsale, and the difference between the first tier in the pre-sale and the last tier in the crowdsale is only a 15% difference.”
- You have such an amazing project, team and advisors, why your telegram has only 500 subscribers?
Until the present moment we have been focusing on building the technology and cultivating relationship with strategic contributors. We will rump up our marketing in the following weeks, hiring an expert Crypto Marketing PR firm and investing on paid reviews and evangelists.
Do you know a great site, blog, evangelist or marketing person? Send us an email at tge@swapy.network .
Learn more about Swapy Network:
Website
Telegram (Announcements only)
Telegram (Open chat)
